Brookdale Senior Living Inc. (NYSE:BKD) Q2 2020 Earnings Conference Call - Final Transcript

Aug 11, 2020 • 09:00 am ET


Brookdale Senior Living Inc. (NYSE:BKD) Q2 2020 Earnings Conference Call - Final Transcript


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Lucinda M. Baier

remains helping to protect the health and well-being of our residents, patients and associates and we will not let up on this diligence. Throughout this global pandemic, Brookdale has provided essential and high-quality care and services and we will continue to do so.

Our commitment to health and well-being has required personal sacrifices that were unimaginable just a few short months ago. And yet, we continue to find inspiration and successes in our operations. The three I would like to highlight are: robust testing, increased resident and family engagement, and incorporating incremental innovation. I will start with our COVID-19 baseline testing.

With research showing that up to 45% of all individuals who are infected with COVID-19 are asymptomatic and given the ability of asymptomatic individuals to transmit the virus unknowingly, we proactively commenced a nationwide resident and associate testing program. We completed baseline testing of residents and associates at all of our communities across 44 states.

In addition to following regulatory requirements, we've asked all residents and community-based associates to be tested, so that we could identify and quarantine any asymptomatic individuals to help prevent the spread of the virus. Year-to-date, we have performed over 100,000 tests. This is helping our extensive efforts to identify asymptomatic individuals and help contain COVID-19, and this tireless work from our Brookdale Everyday Heroes helped contribute to a low percentage of residents who contracted the virus.

As of the end of July, less than 1% of our residents currently have COVID-19 positive results. I want to recognize the great work that occurred at our communities resulting in many great outcomes. Baseline testing at all our communities allows us to learn as well as to minimize the duration and impact a community experiences with the COVID-19 exposure. One of the pleasant surprises we experienced was of those residents who tested positive for COVID-19, many passed through the full exposure period without becoming symptomatic. Without our comprehensive testing, they would not have even known they were positive. Identifying individuals who are COVID-19 positive made it possible to implement our quarantine protocols for those infected residents, and to restrict COVID-19 positive associates from working in our communities and serving our patients.

COVID-19 is ever evolving, and we are still learning every day. We will continue to meet state and local public health officials testing directives and incrementally, we have built plans to conduct additional testing in certain circumstances.

Turning now to our second operational success. Brookdale is focused on leading the way forward with 85% of our communities currently accepting move-ins. The remaining communities are working with prospects and are creating connections with potential residents, so they will be able to welcome new seniors when appropriate. We have increased the amount of communications, and expanded our use of technology with our residents to connect them with their family and friends.

Throughout the pandemic, we made a tremendous effort to connect residents with loved ones through window visits, car parades, and technology to create virtual birthday and anniversary