As Institutional Special Needs Plans become increasingly popular within the long-term care industry, it’s crucial for owners and operators to exercise caution when evaluating their compatibility within the risk-sharing landscape. This advice was offered by a panel of experienced and new I-SNP participants during a session on the opening day of the 2023 American Health Care Association/National Center for Assisted Living Convention & Expo.
“The I-SNP becomes an economic engine to help fuel the costs of that group of people,” Fogg said, later noting that the company’s initial start up cost was around $4 million and that margins may only be 1.5%. “But the process of starting your own I-SNP, it’s a lift, right? It takes a lot of effort.”