POINTCLICKCARE & YARDI: VENDOR COMPARISON - FEBRUARY 2021 PHIL VLACH 2021 - PHILVLACH.

PointClickCare & Yardi:
Vendor Comparison.

February 2021
© Phil Vlach 2021

Forward.

    The purpose of this document is to provide a high-level overview of the PointClickCare and Yardi senior living
    platforms to help inform operator considerations around platform selection. Operators are cautioned to do their
    own due diligence to assure their needs are met.

    Information presented in this document is not confidential. It has been sourced from online resources and through
    discussions with each vendor. Thank you to the vendors and their representatives for their openness and
    consultation.

    Any recommendations reflect the opinion of the author alone. Operator realities may vary.

    Since both platforms continue to evolve, the information in this document is only current to February 2021.

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Introduction.

    Senior living operators need a core business system to run their clinical care and financial operations. These are
    arguably the two most important business areas to address. These are also interrelated, as care services drive
    billing and revenue directly, so an integrated system allows the seamless flow from care to billing, speeding revenue
    recognition.

    Selecting a system for this purpose often comes down to a choice between PointClickCare’s Senior Living Platform
    and Yardi’s Senior Living Suite. But which is the better choice?

    On the surface, each system addresses many financial and care management needs. But a deeper look reveals
    differences that will be important for operators to consider, especially if they lean more heavily towards property
    management, or towards care management.

    In general, operators should look to minimize complexity, align functionality to their business objectives, and seek
    the best fit. Since each platform has several modules, operators can scale into each of these over time or as needs
    evolve.

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Anant Yardi

    Yardi. Origins.                                                    President
                                                                        Founder

    Anant Yardi founded Yardi in 1984 and continues to
    be President of this family owned enterprise. At
    heart, Yardi is a real estate software company. Yardi
    founded it to address the lack of accounting and
    property management software available to the
    residential real estate market. Since then, he has
    diversified his markets to include commercial real
    estate, affordable housing, airports, and senior living.

    Yardi has a dominant 80% share of market in
    property management software, and a 35% market
    share of units in Senior Living in Canada.
    Approximately 1,000 of the 7,500 employees are
    dedicated to Senior Living, which Yardi considers an
    area of growth.

4                                                              Photo sourced from company website.

PointClickCare. Origins.

    PointClickCare was founded in 1995 expressly to address
    the lack of clinical care software available in the long term
    post-acute care market. Founders Mike and Dave
    Wessinger were working in the nursing home and long
    term care space where they witnessed manual, paper-                         Mike Wessinger,               Dave Wessinger,
    based clinical care management processes that they                           CEO & Founder             President & co-founder
    thought would be better solved with software.

    PointClickCare has a dominant 75% share of market with
    over 21,000 skilled nursing, senior living, and home health
    agencies in North America. In Canada, it has about 35%
    market share of operators in Senior Living.

    For operators this means that most of the effort of the 1,500
    employees is focused on the clinical care management
    platform, extending it deeper into senior living from its LTC
    roots, and adding or enhancing functionality.

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                                                                    Photos sourced from company website.

Core & Finance.

    Yardi has a more comprehensive property
    management and accounting platform, though
    PointClickCare has similar functionality, enabled
    through modules like General Ledger/Accounts Payable.
    Yardi has a strong Procure to Pay suite that streamlines
    procurement and vendor payment using modules such
    as PayScan, VendorCafé, and Marketplace.

    Operators will need to prioritize and go deep with the
    vendors on functionality to ensure their needs are met,
    as functionalities do vary. Operators may choose to
    solve using third party tools: modern, easy to use
    finance and accounting platforms that have broad
    ecosystems and integrate easily across multiple use
    cases and industries, e.g. Xero, TidyBuild, Acumatica, on
    the medium size business scale, or OneStream, Planful,
    or Workday Adaptive Planning for larger operators.

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Yardi.
    Core & Finance details.

    Property management is Yardi’s strong
    suit: finance, leasing, occupancy, and
    maintenance. Add-on modules for
    Construction and Fixed Assets may
    resonate with operators that have a
    build program.

    Yardi has focused on streamlining
    digital workflows related to AR/AP
    functions, backed by a strong GL
    offering. This also includes automated
    banking and PCI compliance.

    Additionally, clients can choose to
    outsource their entire AP function to
    Yardi, as a service.

    For procurement, the Marketplace has
    over 1 million products available for
    purchase, all processed through
    digital workflows on the platform.
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PointClickCare.
    Core & Finance details.

    In PointClickCare’s platform, billing and
    accounts receivable flows naturally
    from billable items in the clinical care
    module.

    In order to enable general ledger and
    accounts payable functionality, the
    General Ledger / Accounts Payable
    module must be added.

    In this way, operators can achieve GL,
    AR, and AP functionality with a flexible
    chart of accounts, financial
    statements, and budgeting, within the
    same platform.

8

Clinical care.

    A comparison of the clinical care or EHR functionality shows
    strength for both systems, but with more comprehensive
    functionality found in the PointClickCare platform.

    Operators may find that having a native eMAR within the
    PointClickCare platform, with possible pharmacy integrations, is a
    differentiator. The eMAR enables direct tracking and ordering of
    medications, without duplication into another system. Yardi has
    this capability in Canada, but it is unclear how extensively this
    has been rolled out and connected to pharmacies.

    Infection Prevention & Control is a new set of features that
    PointClickCare introduced in early 2020 in response to Covid-19.
    These features enable clients to detect, manage, and report
    infections in a standardized manner aligned to best practices.

    Yardi introduced similar functionality in December 2020.

    It demonstrates a willingness by both vendors to appreciate
    client needs and the agility to build & deploy functionality quickly.
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Yardi.
     Clinical care details.

     Yardi’s EHR is a solid offering that
     integrates seamlessly with the core
     Voyager platform. This means
     operators are able to document at
     point of care if desired, as well as file
     incident reports digitally.

     Yardi’s eMAR capability is available in
     Canada, but the extent to which
     operators can access it, with
     integration to pharmacies across
     geographies, is somewhat unclear.

     Operators are encouraged to get
     specifics on this if it is important to
     them.

10

PointClickCare.
     Clinical care details.

     The PointClickCare wound module
     allows caregivers to take photos of the
     wound with their smartphone, and the
     software automatically analyzes the
     wound, to ensure accurate size, shape,
     colour, and progress are captured.
     This information can be shared with
     families / caregivers without having to
     unbandage the wound. This greatly
     improves wound management while
     creating a digital audit trail.
     PointClickCare has also streamlined
     the sharing of medical records from
     hospitals to their platform, by building
     an integration with the dominant
     electronic medical record platform,
     Epic. That way, resident records are
     current with information provided by
     the hospital.
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Non-clinical & CRM.

     Other important functionality resides outside the clinical and
     financial features. Portals offer interaction with families,
     residents, and caregivers, including managing payment,
     sharing of information, and tracking of service requests.

     While both platforms have functionality in this area,
     operators with more robust needs may seek more
     comprehensive solutions such as Cubigo.

     Each platform features a CRM module, designed to support
     the prospect-to-sales process, including email campaign
     management. Operators with more sophisticated CRM or
     marketing needs may require other solutions, such as
     SherpaCRM, or Hubspot.

     An important consideration for operators will be the UX (user
     experience), meaning how easy and intuitive each system is
     to use. For operators to assess this they will need to
     assemble a cross-functional internal team of frontline staff,
     managers and office workers, to see and try each platform.

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Yardi.
     Non-clinical & CRM.

     Yardi’s Rent Café enables operators to
     customize the ‘look and feel’ of the
     portal, with their own images and
     branding.

     The Senior IQ module is new and
     should offer better analytics across
     the Yardi platform than previous
     reporting mechanisms.

     Rent Café Reach offers marketing
     services for SEO optimization, SEM/PPC,
     enhanced online listings, reputation
     management, and social media
     management.

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PointClickCare.
     Non-clinical & CRM.

     The PointClickCare portal has been
     available in the US, and is being made
     available in January 2021 in Canada.

     PointClickCare features hundreds of
     prebuilt reports to allow operators to
     gain insights into their operations.

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Infrastructure.

     Although both platforms are cloud-based software-as-a-service
     offerings, the nature of their implementation is quite different.
     Yardi hosts their “cloud” on their own hardware installed at third-
     party data centres with Bell and Equinix. PointClickCare, as of
     recently, runs their software in the Microsoft Azure cloud. This
     means that Yardi maintains its physical infrastructure (the
     servers, VMs, etc), while Microsoft does that as part of their
     Platform-as-a-Service in the case of PointClickCare.

     While each vendor continues to evolve their platform, they each
     have their own philosophy regarding how best to do this. Yardi
     takes a more traditional approach, in that they believe that all
     the functionality an operator needs can be delivered by the Yardi
     platform, and that integrations with other systems are generally
     unnecessary. PointClickCare has taken a more contemporary
     approach in augmenting the functionality of their platform with
     an ecosystem of partners, allowing others to connect through
     API’s (application programming interfaces).

     Each platform has taken the necessary high-level steps to secure
     and certify their offerings, and protect sensitive PI and PHI data.
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Yardi.
     Infrastructure.

     Since Yardi manages their own
     hardware infrastructure in 12
     global 3rd-party data centres,
     they can offer different levels of
     “cloud” offering, from shared
     infrastructure to completely
     private. In all cases, the operator
     database is not shared, and is
     private to that operator.

     Yardi’s system doesn’t have open
     API’s, nor a senior living specific
     marketplace. There is a way to
     have custom integrations built,
     though the process is a bit
     cumbersome and there is a
     recurring annual cost for the
     other technology partner.

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PointClickCare.
     Infrastructure.

     PointClickCare takes a more
     contemporary approach with
     open API’s and over 100 prebuilt
     integrations in their Marketplace,
     including to popular applications
     such as Cubigo, SherpaCRM,
     Tenera Care, and ThinkResearch,
     among many others. If the
     sought-after integration isn’t
     available in the Marketplace,
     there is a process to have it
     developed.

     For Canadian operators, the
     PointClickCare application is
     hosted with Microsoft at the
     primary data centre in Toronto,
     with a backup in Montreal.

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Other modules.
     Both platforms offer additional modules to extend their functionality, some of which are described above.
     True to their nature, each skews more to their origins: Yardi towards financial, including construction (for operators who also build);
     PointClickCare towards care, including nutrition management.
     Operators should consider these modules in their overall considerations, though some may be better sourced via other vendors,
     depending on operator requirements.
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Pricing.

     Each vendor prices their platform per unit per year, month, or day.

     Yardi prices each module a la carte, meaning a price for the platform, then add-on costs for each additional
     module, though bundling provides a better cost.

     PointClickCare pre-bundles some of their functionality with additional modules available a la carte.

     Depending on which options are selected, operators can expect to pay from several hundred to upwards of a
     thousand dollars per month for a 100 unit community. Operators looking for more comprehensive functionality
     across several modules might land in the $1,500 range per month for a 100 unit community.

     As each vendor is modular in their offering, operators can scale into functionality (& cost) and additional modules
     over time, as their comfort and experience with the platform grows.

     Note, however, that pricing does change, as do the bundling options and inclusions. Operators should contact
     vendors directly to discuss current pricing details and options.

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Key Takeaways.

     Both Yardi and PointClickCare offer robust platforms for senior living operators to manage many parts of their
     business, including financial and clinical-care management, and many beyond that.

     Key takeaways include:

     ●   PointClickCare has a greater clinical-care focus, with a mature eMAR, pharmacy integration, & IPaC features.
     ●   Yardi has greater depth in property management & accounting, including Fixed Asset & Construction modules.
     ●   CRM modules differ, but offer sales teams basic prospect-to-resident management.
     ●   Advanced marketing and sales requirements can be addressed by 3rd-part vendor solutions.
     ●   Non-clinical modules offer functionality that might be sufficient for many operators.
     ●   PointClickCare allows for more integration with other systems, with a Marketplace of over 100 prebuilt
         integrations, and a disposition of building an ecosystem of partners.
     ●   Both vendors have taken due care to make their cloud offerings secure, though offered differently: Yardi hosted
         in private data centres, PointClickCare hosted on Microsoft Azure.

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Alignment to Fit.

     Yardi is best for…                                         PointClickCare is best for…

     ●   Operators that have lighter clinical care needs, now   ●   Operators that have higher clinical care needs, either
         and in the future.                                         now or forecast in the future.
     ●   Operators that have a strong build program / focus.    ●   Operators that have a light build program.
     ●   Operators that are more focused on property            ●   Operators that are more focused on clinical care
         management than clinical care management.                  management than property management.
     ●   Operators that know they need minimal integration      ●   Operators that know they will need to integrate with
         with other systems.                                        other systems, either in the Marketplace or beyond.

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Next Steps.

     When looking for a platform to run the key parts of their business, senior living operators should ensure they go through the
     necessary steps as part of their due diligence selection process. These may include the following:

     ✓ Know your business objectives, and write them down - this doesn’t have to be a formal process, but the act of writing
       them down makes them more tangible and real, and something to refer back to - this is a great starting point.

     ✓ Know your organization’s appetite for change - this will be a change - and what pace you want to go at, and who your
       champions will be - do you have the right change management structure or do you need external help?

     ✓ Plan out your phases of implementation, spanning 3 years, even if year 3 is a guess - and budget accordingly.

     ✓ Meet with the vendors several times: general overview, demo, reference clients, roadmap of future features.

     ✓ Trial the software, either in a small implementation or in a sandbox, to get the feel of the UI and how smooth it is - have
       several team members from different roles try it.

     ✓ Make sure your business philosophy aligns with the vendor - if it doesn’t it won’t be a good long term relationship.
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Putting technology to work for you.

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         © Phil Vlach 2021