Volante’s new CEO focuses on turnaround, preparing operator for growth

New Volante Senior Living CEO Jeff Fischer plans for the future.

Fischer, who joined the South Lake, Texas-based company in July as its top leader after seven years as president of MBK Senior Living, now has his hands full executing on growth priorities and operational improvements.

“It’s an exciting opportunity to take a younger platform, work with a new team, grow it, stabilize operations and expand the platform over the next few years,” Fischer told SHN.

Fischer is a 28-year veteran of the senior living industry. Prior to MBK, he was senior vice president of operations at Sunrise Senior Living and previously held management positions at LifeTrust America and Integral Senior Living. Fischer first entered the senior living industry as a regional manager for Emeritus Senior Living in 1999.

Volante Senior Living is the senior living arm of investor Inspired Healthcare Capital. The company operates 25 communities nationwide, with two under development in Oregon.

Stabilizing the platform for future growth

In the years since the Covid-19 pandemic, nursing home operators have focused on improving occupancy rates, margins and addressing persistent staffing issues.

Volante, like many other operators in 2024, is still reclaiming its best position to lay the groundwork for future growth. In the coming months, Fischer plans to assemble Volante’s senior management team, which includes some newcomers to the retirement home industry, to build a “cohesive unit” before pivoting to new growth.

“We’re going to stabilize the team, stabilize the operations and optimize the technology to enhance what we have,” Fischer said.

Occupancy has continued to grow at Volante over the past five months, although margins remain challenging, Fischer said. Margin expansion has been a struggle for many senior living companies over the past 18 to 24 months as continued spending pressures and rising costs have eroded profitability.

“We hope that the growth in occupancy will continue, that operations will continue with increasingly better efficiency and that some stability will be achieved over time,” Fischer said.

Fischer also noted that Volante needs to evaluate the structure of care levels and cost structures due to the increasingly critical nature of today’s senior care environment, and in doing so, provide better care to residents of nursing homes and memory care facilities.

On the personnel front, Fischer said Volante will focus on reducing overtime and developing new training tools to help employees learn on the job, and will also explore future applications of technology in operations.

“We will be able to provide them with the technology and tools that will make their jobs easier, streamline their workflows and speed up their execution, so they can dedicate as much time as possible to the care and attention of our residents and their families,” Fischer said.

Fischer said Volante intends to go forward “streamline what we have” in terms of legacy technology infrastructure and systems used in communities to connect the company’s technology partners “in a cohesive framework.”

Fischer noted that all areas of the business have opportunities to improve service levels to attract the next generation of retirement home customers. He highlighted community updates and renovations, such as outdoor kitchens, yoga studios and other lifestyle amenities, that are helping to attract a new generation of seniors.

“You may have to get creative,” Fischer added. “You have to get a little creative in how you develop these spaces, and all of these things are taken into account as we go forward.”

Improvements in recruiting and retention, as well as the removal of agency hiring costs, have helped Volante achieve greater staffing stability and focus on reducing overtime to “traditional levels,” Fischer said.

By creating diversity for Volante residents and emphasizing choice, Fischer believes improving amenities will help drive future demand for senior housing to the Volante community.

“Having some options and some diversity will be attractive to the generation we serve,” Fischer said.

Developing Operations to Support the Future

Volante launched its operating platform only about two years ago. But Fischer said he believes now is the time to take the younger platform to new heights, building on its recent success in improving operational efficiency.

Fischer said his role at Volante now gives him the chance to build something new while embracing growth, including development.

“Looking at both sides of the equation, from acquisitions and development to platform growth, it’s really exciting,” Fischer told SHN.

While new development has historically been more challenging to deliver, delays have allowed operators to improve the operating performance and net absorption rates of senior living facilities as demographic demand improves occupancy rates.

“Sooner or later, things will improve,” Fischer said. “Once the economy calms down and interest rates stabilize, growth will accelerate.”

Fischer mentioned that Volante has two projects underway and is also looking to acquire value-added communities. He added that Volante’s primary focus will be on communities offering independent living, assisted living and memory care.

“You have to be ready to run before you get left behind, chasing demographics, not overtaking them,” Fischer said.

Fischer noted that future developments must take into account the needs of future generations, offering deeper wellness and lifestyle offerings, as well as expanding the range of care services.

“I think these are all issues that need to be considered and are being considered as we move forward. We’ll see where it takes us,” Fischer said.

To prepare for the future and attract new residents to the community, Fischer said operations need to think about growth, being “slow and smart” in considering areas of the continuum that need to be expanded. Fischer said central to that methodical approach would be putting potential future development sites under a larger microscope to ensure the agreement will benefit the organization.

“I think this industry has the potential to grow in every area, from active adults to memory care to skilled (nursing),” Fischer said.

Fischer said that as we enter 2025, Volante management will track the “ebb and flow” of nursing home development to shape future growth — whether through acquisitions or community expansions.

“We still have many years of intense work ahead of us and we just have to keep working at it,” Fischer said.