FORCAST Users Group Conference 2024
Atlanta, Georgia
July 25-26
The FORCAST Users Group Conference 2024 (UG2024) was held on Thursday, July 25 and Friday, July 26 in Atlanta, GA. Thursday’s educational sessions focused on hot topics followed by an interactive deep dive into FORCAST on Friday. Participants earned 6.5 CPE credits in the field of Specialized Knowledge on Thursday and 2.75 CPE credits in the field of Specialized Knowledge on Friday. A networking dinner was held Thursday evening.
- Communicating actuarial results: From the Point of View of Former CFOs
- Effectively communicate actuarial information to your Board and managers.
- Understanding the key actuarial measures in your compilation report.
- Learn how to engage AVP in your budget planning and fee increase decisions.
- Explore how to integrate actuarial results with your strategic planning.
- Comparing solvency definitions
- Standard measures of solvency for life plan communities
- Satisfactory Actuarial Balance (SAB) criteria and terminology
- Crosswalk between GAAP and ASOP #3 balance sheets
- Solvency measure illustrations
- Leveraging FORCAST – another tool for the budgeting toolbelt
- Provide an overview of the dashboard metrics provided in actuarial compilation reports.Explore how FORCAST can be another resource in preparing. Operating and capital budgets by changing key assumptions.Understand how to evaluate the impact of assumption change(s) on the dashboard metrics.
- Aging in place – impact on utilization and cash flows
- Evaluate external factors that impact communities’ decisions to configure or reconfigure capacity in assisted living, memory care, and skilled nursing.Learn what data is needed to improve setting assumptions for actuarial projections and your health care needs.Discuss best practices for health care capacity design to ensure financial sustainability and operational success. Investigate the financial implications of changing the location of care for your residents.
- Review recent case study with a reduction in skilled nursing capacity.
- Modeling expansion options in FORCAST
- Hear the impact on actuarial ratios with an independent living expansion.
- Learn how many independent living expansion units you should build and the health care needs associated with this expansion.
- Stress testing your actuarial position
- Understand the metrics that determine your actuarial position.Discover primary assumptions that influence results.
- Develop meaningful stress testing scenarios.
- Hosted at The Oceanaire Seafood Room
- Understanding actuarial and operational data and trends
- Explore the fascinating statistics and metrics available from actuarial analysis and operational benchmarking performed by A.V. Powell & Associates.
- Discover demographic, actuarial, and operational trends among senior living organizations.
- Learn how to compare your organization’s actuarial and operational performance to others.
- FORCAST data security
- Discover the security features available in ShareFile, such as:
a. HIPAA-compliant data sharing
b. Activity logs for all transactions
c. IP address monitoring
d. Two-factor authentication - Sneak peek of what’s to come! Preview of FORCAST v9
- Discover the security features available in ShareFile, such as:
- Actuarial projection of benevolence liabilities
- Understand the actuarial methodology involved in estimating benevolence liabilities.
- Evaluate the liability projections and test sensitivity to alternate assumptions.
- Implement strategic policies for managing benevolence risk.
- FORCAST 101
- Automate import of resident data with ease and efficiency.
- Improve proficiency with FORCAST reporting tools.
- Import FINAID to FORCAST
- Determine the actuarially equivalent entry fee premium for refundable contracts
Prerequisites: This conference is intended for those who are already familiar with the FORCAST software. If you or your staff require basic FORCAST training, please contact your account manager.
Advanced Preparation: Laptops are encouraged but not required.
Program Level: Intermediate
Delivery Method: Group Live
A.V. Powell & Associates LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
Venue Information
The Hyatt Centric Midtown Atlanta served as the venue for UG2024.