Parker Health Group Company Profile

Background

Parker Health Group, Inc. is a not-for-profit, New Jersey-based aging services organization with over 115 years of experience dedicated to empowering older Americans. Founded in 1907 by Henrietta Parker, the organization has been at the forefront of redefining aging in America. Parker's mission is to discover ways to make aging manageable, relatable, and enriching for all of society, with a vision to make aging a part of life.

Key Strategic Focus

Parker Health Group specializes in person-centered, long-term care with a focus on enhancing the quality of life for older adults. The organization offers a range of services, including assisted living and long-term care residences with memory care, adult day centers with medical and social programs, post-acute rehabilitation, and various rehabilitation services such as physical, speech, and occupational therapy. Additionally, Parker provides community outreach programs like the Parker Day Club at Home, aimed at seniors living in affordable housing.

Financials and Funding

As a not-for-profit entity, Parker Health Group's financials are primarily reinvested into its services and community programs. In 2023, the organization reported total assets of $30.3 million and total liabilities of $17.3 million, resulting in net assets of $13 million. The revenue for the same year was $34,932, with expenses totaling $16.9 million.

Pipeline Development

Parker Health Group continually seeks to expand and enhance its services. In January 2022, the organization partnered with Visiting Nurse Association Health Group, Inc. to launch the Parker Advanced Care Institute (PACI). This initiative aims to provide in-home primary medical care to homebound high-risk older adults, addressing their complex healthcare needs and reducing the necessity for hospitalizations.

Technological Platform and Innovation

Parker Health Group has demonstrated a commitment to integrating innovative technologies to improve care quality. In early 2021, the organization implemented BioVigil's Hand Hygiene Solution across its communities. This wearable electronic badge system monitors hand hygiene compliance, providing visual reminders to healthcare workers and significantly reducing healthcare-acquired infections. This initiative led to Parker receiving the Gold award in the Quality category at the 2022 McKnight's Tech Awards.

Leadership Team

Roberto Muñiz, MPA, FACHE: President and CEO

Elizabeth Sparling: Chief Operating Officer

Donna Silbert: Chief Strategy Officer

These leaders have been instrumental in steering Parker Health Group's strategic initiatives and operational excellence.

Leadership Changes

As of the latest available information, there have been no recent significant changes in Parker Health Group's leadership team.

Competitor Profile

Market Insights and Dynamics

The aging services industry is experiencing significant growth due to the increasing elderly population. Organizations like Parker Health Group are pivotal in addressing the complex needs of this demographic, offering comprehensive care solutions that encompass medical, social, and rehabilitative services.

Competitor Analysis

Parker Health Group operates in a competitive landscape alongside organizations such as Elderwood, Asbury Communities, and Wartburg. These competitors offer similar services in elderly care and healthcare, each striving to provide quality care and innovative solutions to meet the needs of the aging population.

Strategic Collaborations and Partnerships

In addition to the partnership with Visiting Nurse Association Health Group, Parker Health Group has engaged in collaborations to enhance its service offerings. For instance, in 2021, Parker partnered with Springpoint Senior Living, Inc. to create the Springpoint/Parker LivWell Initiative in Affordable Housing, aiming to improve the quality of life for seniors in affordable housing communities.

Operational Insights

Parker Health Group's strategic initiatives, such as the implementation of advanced hand hygiene technology and the establishment of PACI, demonstrate its commitment to innovation and quality care. These efforts not only enhance patient outcomes but also position Parker as a leader in the aging services sector.

Strategic Opportunities and Future Directions

Looking ahead, Parker Health Group is poised to expand its reach and impact through continued innovation and strategic partnerships. The organization's focus on integrating technology into care delivery and its commitment to community-based services position it well to meet the evolving needs of the aging population.