RealPage Introduces Senior Living Solution
(February 9, 2012) — RealPage, Inc. (NASDAQ: RP), a leading provider of on-demand software and software-enabled services to the rental housing industry, today announced an enterprise-wide, senior living solution that integrates Care Management, Community Management and Marketing Management into a single offering marketed under the trade name RealPage Senior Living. An overview of the new solution can be found at www.realpage.com/senior-living.
According to Steve Winn, chairman and CEO of RealPage, “Today we are announcing a major commitment to the senior living industry. We believe the introduction of a comprehensive, integrated Care Management, Community Management and Marketing Management platform that will help owners and managers attract more residents and improve the living and care experience enjoyed by those residents. RealPage Senior Living will eliminate the common industry practice of cobbling together solutions from multiple service providers.”
Care Management combines the best features of both A.L. Wizard (acquired in 2009) and Vigilan (acquired in January 2012) to help senior living owners and managers improve quality of care and increase direct care revenue. It includes a powerful assessment tool that enables clinical staff to measure the changing acuity of senior residents, as well as a staffing plan to accurately price the delivery of care and achieve maximum revenue. Customers have found care fee increases of up to 30 percent and labor savings of up to five percent, when the assessment and care planning tools are used to document all care and optimize direct care staff.
Community Management is based on the company’s leading software-as-a-service (SaaS) OneSite® property management system, which is used to manage several million apartment communities around the U.S. OneSite has been adapted to meet the unique needs of the senior living market, with modules for accounting, census and billing, electronic payments, purchasing and facilities. Community management includes a powerful accounting system with complete AP, GP and purchasing functions with consolidated reporting capabilities. It also includes a powerful census management system to properly record information about every resident, including a ledger that captures all charges incurred by the resident from other systems and presents them on a single, convergent bill. The electronic payments module replaces posting of paper checks and manual data transfers, reducing the risk for human error or delayed postings. All community management modules can be licensed individually or as a bundled suite.
Marketing Management provides cost-effective marketing solutions, including lead tracking and contact center services powered by Level One?, which is the largest contact center for apartment leasing in the U.S. and is currently handling over 25,000 senior living inquiries per month. The offering will also include a placement network of care advisors powered by SeniorLiving.Net, OurParents.com, MyNewPlace.com and hundreds of affiliated web sites.
Todd Walrath, who has been named the president of RealPage Senior Living commented, “RealPage Senior Living is the first comprehensive platform to address the challenges of managing care, community and marketing with a single, integrated solution. Most owners and managers have had to deal with single point solutions from multiple providers. With our unique integration, our clients can provide better service to their residents while optimizing revenue and expenses. I am excited to be leading this effort.”
Doug Fullaway, former president of Vigilan, will run expanded sales and client account management teams for RealPage Senior Living. Jim Wills, former president of A.L. Wizard, will run the RealPage Senior Living product management organization. Through these efforts, RealPage has assembled the strongest management team in the senior living industry supported by the technology resources and financial commitment of one of the largest publicly-traded SaaS companies in the U.S.
Located in Carrollton, Texas, a suburb of Dallas, RealPage provides on demand (also referred to as “Software-as-a-Service” or “SaaS”) products and services to apartment communities and single family rentals across the United States. Its on demand product lines include OneSite® property management systems that automate the leasing, renting, management, and accounting of conventional, affordable, tax credit, student living, senior living and military housing properties; LeaseStar™ multichannel managed marketing that enables owners to originate, syndicate, manage and capture leads more effectively and at less overall cost; YieldStar® asset optimization systems that enable owners and managers to optimize rents to achieve the overall highest yield, or combination of rent and occupancy, at each property; Velocity™ billing and utility management services that increase collections and reduce delinquencies; LeasingDesk® risk mitigation systems that are designed to reduce a community’s exposure to risk and liability; OpsTechnology® spend management systems that help owners manage and control operating expenses; and Compliance Depot™ vendor management and qualification services to assist a community in managing its compliance vendor program. Supporting this family of SaaS products is a suite of shared cloud services including electronic payments, document management, decision support and learning. RealPage’s MyNewPlace® subsidiary is one of the largest lead generation apartment and home rental websites, offering apartment owners and managers qualified, prospective residents through subscription, pay-per-lead and LeaseMatch pay-per-lease programs. Through its Propertyware subsidiary, RealPage also provides software and services to single-family rentals and low density, centrally-managed multifamily housing. For more information, call 1-87-REALPAGE or visit www.realpage.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking” statements relating to RealPage, Inc.’s expected, possible or assumed future results of operations and potential growth and plans, management, branding and profit margins of MyNewPlace as well as market performance, opportunities and developments. These forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include all statements that are not historical facts and may be identified by terms such as “expects,” “believes,” “plans” or similar expressions and the negatives of those terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the following: (a) the possibility that general economic conditions or uncertainty cause information technology spending, particularly in the rental housing industry, to be reduced or purchasing decisions to be delayed; (b) an increase in customer cancellations; (c) the inability to increase sales to existing customers and to attract new customers; (d) RealPage, Inc.’s failure to integrate acquired businesses and any future acquisitions successfully; (e) the timing and success of new product introductions by RealPage, Inc. or its competitors; (f) changes in RealPage, Inc.’s pricing policies or those of its competitors; (g) litigation; and (h) such other risk and uncertainties described more fully in documents filed with or furnished to the Securities and Exchange Commission (“SEC”), including RealPage’s Form 10-Q previously filed with the SEC on November 8, 2011. All information provided in this release is as of the date hereof and RealPage, Inc. undertakes no duty to update this information except as required by law.