Future leader: Christopher Clare, managing director at Greystone
The Future Leaders Awards program is brought to you in partnership with PointClickCare. The program is designed to recognize emerging industry members who are shaping the next decade of senior living, skilled nursing, home nursing and hospice care. To see this year’s future leaders, visit https://futureleaders.agingmedia.com/.
Christopher Clare, Managing Director of Greystone, has been named a 2022 Future Leader by Skilled Nursing News.
To become a Future Leader, a person is nominated by their peers. The candidate must be a high-performing individual aged 40 or younger, a passionate worker who knows how to turn vision into reality, and an advocate for senior citizens.
Clare spoke to Skilled Nursing News about the importance of investing in providers that put residents first, the need for the industry to rebuild a pipeline of talent and why the sector is ultimately essential.
SNN: What drew you to this industry?
Christopher: I started in the industry as an underwriting analyst after my MBA. I was immediately drawn to the mix of art and science required to adequately value each deal. However, I was hooked when I viewed my first property. It made an indelible impression on me. Behind the story and data are real people who deserve exceptional attention. This realization changed my view of my role in the industry. In a way, lenders are responsible for allocating capital to operators that provide residents with the best possible care. One of the most exciting aspects of my job is providing funding for the next big operator and watching them grow while their residents thrive.
SNN: What’s your biggest lesson you’ve learned since working in this industry?
Invest in providers that put residents first. Operators focused solely on profitability come and go. As our state and federal reimbursement systems become increasingly tied to clinical outcomes, those operators who can deliver excellent care will win the competition for capital, talent and residents.
SNN: If you could change one thing about the future of skilled nursing, what would it be?
We need to build a pipeline of talent. We need the younger members of our workforce to see just how rewarding a career in skilled nursing can be. Tactically, I think this requires direct government support. Increased state and federal funding is critical to building training programs and enabling facilities to pay competitive wages.
SNN: Looking ahead to 2023, what do you think will be different in the skilled nursing industry?
Well, we’re definitely in an environment of higher interest rates for the foreseeable future, so I think interest in financing products like HUD-insured loans will be even greater. This is an area where Greystone excels as a leading lender for HUD-insured healthcare loans. Compared to bank financing, HUD offers higher leverage, non-recourse and longer-term fixed rate financing. Above all, however, our partners at HUD have proven that they are absolutely committed to qualified care. We know we can count on them to continue lending in what may be a difficult macroeconomic environment.
SNN: In one word, how would you describe the future of skilled nursing?
Significant. This housing construction is so critical to America’s increasingly aging demographics, and we must provide owners and investors with the tools and resources to succeed.
SNN: What qualities must all Future Leaders possess?
Mission. All sorts of stakeholders from investors, vendors, etc. are drawn to the SNF space for obvious reasons, but then run for the exit at the first sign of trouble. The common thread among the future leaders of 2022 is dedication. We are committed to this industry in the long term and will continue to support the operators and their residents in the years to come.