Metrics that Matter #10: Move-ins & Move-Outs (MIMO)
Welcome to another “Metrics that Matter”! Today we’re diving into a metric that seems simple but can be calculated many ways: MIMO!
KPI: Move-Ins and Move-Outs (MIMO)
What is MIMO?
MIMO is the net change in Move-Ins and Move-Outs during a time period (Move-Ins - Move-Outs)
Why is MIMO important, and why is it hard to calculate?
MIMO is a key metric for multiple departments. However, different departments may be using different definitions of what a “move-in” or “move-out” is. For example:
* Sales may record a move-in when a deposit is placed on a unit (and the unit can no longer be rented). This is a +1 on Occupancy.
* Clinical cares about move-ins for residents who are receiving care. If a couple moves in and only 1 resident is receiving care (and the other is considered a 2nd resident), that may be recorded as a +2 for Census but only +1 for Occupancy.
* Operators tracks move-ins to measure Census (how many residents are in the building) to adjust food costs and other variable expenses.
Move-Outs can also be complicated. For example: if a resident leaves the community to go to a hospital or outpatient facility for a respite stay but then moves back into the community, is that considered a Move-Out and then a Move-In when they return? Or is it not counted at all?
How do we track MIMO at Clarent?
At Clarent, our goal is to bring clarity to data. To accomplish this, we have created a KPI Library with over 150 different KPIs that cover every facet of senior living. This means that our customers can calculate MIMO exactly the way they want to (based on how they calculate Move-Ins and Move-Outs). Typically, we use the definition of "Number of units that have a move-in or move-out during the time period", which is a Unit-based KPI. However, we can also track Census-based Move-Ins or Move-Outs to calculate MIMO on an Resident basis for KPIs like Average Move-in Fee.
If you’re interested in learning more, check out our article on Census vs. Occupancy.