The New Jewish Home: Comprehensive Company Profile

Background

Overview

Founded in 1848, The New Jewish Home is a nonprofit health care system dedicated to serving older adults across New York City and Westchester County. With a mission to empower older adults to enhance purpose and well-being through innovative health care services, the organization envisions a society free from ageism, embracing its older members.

Historical Milestones

1848: Established as the B’nai Jeshurun Ladies Benevolent Society for the Relief of Indigent Females.

1870: Opened its first home for elderly women in Manhattan.

1940s: Became one of the first geriatric hospitals in the U.S. to receive accreditation.

1948: Pioneered home care services for older adults.

2016: Rebranded from Jewish Home Lifecare to The New Jewish Home.

Key Strategic Focus

Core Objectives

Innovative Care Models: Implementing person-directed care approaches, such as the Green House model, to create home-like environments for residents.

Workforce Development: Addressing healthcare staffing shortages through programs like SkillSpring, which trains young adults from underserved communities for careers in eldercare.

Community Engagement: Offering a continuum of services, including short-term rehabilitation, long-term care, adult day health care, and home health programs.

Primary Markets

The New Jewish Home serves a diverse population of older adults in the New York metropolitan area, regardless of faith or ethnicity, focusing on providing comprehensive and compassionate care.

Financials and Funding

Revenue

Estimates of The New Jewish Home's annual revenue vary:

Approximately $348.1 million per year.

Approximately $750 million as of September 2024.

Funding and Grants

2024: Received a $150,000 capital grant from the Tikkun Olam Foundation Inc.

Pipeline Development

Upcoming Projects

Rehabilitation and Community Healthcare Center: Developing a new care community in Manhattan utilizing the Green House model to provide a home-like environment for post-acute care patients.

Technological Platform and Innovation

Proprietary Technologies

Jintronix: Utilizes Microsoft Kinect for virtual rehabilitation, offering interactive exercises and real-time feedback to therapists.

Significant Scientific Methods

Telemedicine Platform: Implemented Bluestream to provide bedside video translation services in multiple languages, enhancing communication in a diverse patient population.

Leadership Team

Executive Leadership

Jeffrey I. Farber, M.D.: President and Chief Executive Officer.

Mark Weiss: Chief Financial Officer.

Alyssa Herman: Chief Development and Marketing Officer.

Tanya E. Isaacs: Senior Vice President and Chief Human Resources Officer.

Gabrielle Genauer: Vice President and General Counsel.

Sandra Mundy: Manhattan Administrator and Senior Advisor to the President for Strategic Initiatives.

Laurence Abrams: Sarah Neuman Administrator.

Notable Leadership Achievements

Leeada Durant: Assistant Director of Nursing at Sarah Neuman campus; recognized for creating the Nursing School Affiliation Program and extensive volunteer work.

Shiny Mathew: Nurse Practitioner; led the heart failure program, achieving Joint Commission accreditation for congestive heart failure care.

Competitor Profile

Market Insights and Dynamics

The eldercare industry in New York is highly competitive, with numerous facilities offering a range of services from independent living to skilled nursing care. The demand for quality eldercare services continues to grow due to an aging population.

Competitor Analysis

Hudson Hill Center for Rehabilitation and Nursing: Largest nursing home in Westchester County with 315 beds.

St. Cabrini Nursing Home: Second largest with 304 beds.

The Paramount at Somers Rehabilitation and Nursing Center: Tied with The New Jewish Home's Sarah Neuman campus as the third largest, each with 300 beds.

Strategic Collaborations and Partnerships

Caring Communities: Joined in 2019, gaining access to liability insurance, education, and risk management services tailored for nonprofit senior care providers.

The Green House Project: Partnered to develop a new care community in Manhattan, implementing the Green House model for post-acute care.

Operational Insights

Strategic Considerations

The New Jewish Home differentiates itself through innovative care models, comprehensive services, and a commitment to workforce development. Its focus on person-directed care and community engagement positions it favorably in a competitive market.

Strategic Opportunities and Future Directions

Expansion Plans

SkillSpring Program: Aims to scale the workforce development initiative to address healthcare staffing shortages and provide career opportunities for young adults.