CEO At National Datacare Corporation
About Mark Sanfacon
A veteran business executive, Mark Sanfacon currently serves as the CEO of National Datacare Corporation. He has led the company in his present role since 2001. Located in Chantilly, Virginia, National Datacare Corporation assists long-term care establishments across the nation with technical and patient accounting services. Mr. Sanfacon has contributed substantially to National Datacare's size and business volume during his time on the executive leadership team. Over the past 12 years, he has increased the firm's client pool from a few hundred long-term care companies to more than 5,000. Before joining National Datacare in 1990, Mark Sanfacon served with Froehling and Roberson as a civil engineer.
Mr. Sanfacon began building his professional credentials at the Virginia Polytechnic Institute and State University (Virginia Tech), where he received a bachelor of science in civil engineering. During his free time, Mark Sanfacon pursues a variety of outdoor hobbies, including boating, fishing, and golf. He also enjoys learning about various subjects in the technology industry.
The Resident Fund Management Service - Enabling Direct Deposits
As CEO of the National Datacare Corporation, Mark Sanfacon guides all aspects of a firm that offers over 6,000 nursing homes across the nation with resident trust account management services. Mark Sanfacon’s firm assists nursing homes in staying compliant with federal and state regulations that require all nursing home residents maintain access to their personal funds.
Offered for the past 35 years, the firm’s core Resident Fund Management Service (RFMS) has provided clients with a full-service approach to all aspects of resident banking including direct debit and direct deposit. Each resident account within RFMS is individually numbered which allows for detailed tracking and funds are never co-mingled with facility monies.
RFMS facilitates direct deposits into residents accounts and provides for automatic transfers to pay for care costs owed to the facility. Each resident retains their allowance within their individual account. The bottom line is that direct deposit through RFMS
enables the resident and the facility to ensure their benefit checks are received and posted effortlessly.
Demand for Long-Term Care Increasing; HUD Tests New Approach
Mark Sanfacon, CEO of National Datacare Corporation, has decades of experience working with large banks and nursing homes to arrange financial services for nursing home residents. As head of the financial technology firm, Mark Sanfacon stays current on trends that affect his clients’ businesses, including the rising demand for long-term services for elderly individuals and federal initiatives to help seniors age in place.
The Congressional Budget Office, a federal agency that provides nonpartisan, independent economic analyses to the U.S. Congress, in 2013 reported that by 2050, one-fifth of the U.S. population will be age 65 or older, and that more than two-thirds of this older population will need assistance with daily activities, including paying bills, at some point in their lives.
The CBO points out that elderly people with severe functional and cognitive limitations live in institutional settings, including residential care facilities and nursing homes. The former provide custodial care, such as assistance with meals, bathing, and dressing, which is not covered by Medicare. The latter provide skilled nursing care, and may be covered by Medicare if the resident meets eligibility requirements.
The CBO projects a 1.9 to 3.3 percent increase in expenditures for long-term services by 2050, but notes that these projections are uncertain, due to unknowns in future changes in services and their use, as well changes in costs for labor and other inputs to long-term care.
The U.S. Department of Housing and Urban Development (HUD) recently announced an initiative that may affect CBO projections by helping low-income seniors age in place. HUD said that it is making approximately $15 million available to test a housing and services model that would allow seniors to remain in their homes and delay or avoid the need for nursing home care.
Through this model program, titled Supportive Services Demonstration for Elderly Households in HUD-Assisted Multifamily Housing, HUD will offer three-year grants to eligible owners of HUD-assisted senior housing developments. Grant moneys will be used to pay for on-site personnel who provide assisted-living and wellness services.