Senior Living Communities

Accepting Rates for Market Rates Management

After you verify all living unit and rate information in a Market Rate Template, you need to accept the rates for the rates to be applied to newly created or edited resident census and rate records. You can accept rates for 1 community at a time within the Date Range.

If you accept a rate template, processing immediately starts. When completed, the template status changes from open to accepted. If a new date range breaks an existing date range, the previous date range is automatically ended with the day before the effective date of the new date range. For example,

  1. A date range is effective from 4/1/17 through 3/31/18. 

  2. You create a new date range effective 6/1/17 and accept the rates.

  3. The date range effective 4/1/17 is effective through 5/31/17.

For a multi-community at Management Console

  1. Management Console > Standards > Financial Management > Market Rates Management.

  2. To access the community market rate templates, click expand for the date range.

  3. Click the action icon next to the community.

  4. Click Accept.

For a single or multi-community at the community

  1. Billing > Setup > Market Rates Management.

  2. Use the Effective From column to identify the Market Rate Template.

  3. Click Accept.

  • In a multi-community database, at the template level, in actions you can use accept all to simultaneously accept the rates for all communities associated to the Date Range.