NIC’s recent acquisition of VisionLTC and creation of NIC MAP Vision integrates the market-leading NIC MAP® Data Service with VisionLTC’s best-in-class data for investors, owners, and operators to provide significantly deeper and broader data for industry stakeholders.
“On one hand, the market fundamentals continue to show signals of progress due to the availability and widespread distribution of the COVID-19 vaccine among America’s seniors—on the other hand, staffing challenges and wage pressures are continuing to put strain on NOI for many operators. These data from the Wave 25 survey support trending improvement in the pace of move-ins and in occupancy rates across each of the care segments. However, staffing shortages that were experienced by many operators prior to and exacerbated by the pandemic persist. Currently, two-thirds of organizations report staffing shortages within their portfolio of properties. Adding to the challenge, nearly all respondents to the Wave 25 survey were paying staff overtime hours, and four out of five organizations were tapping agency/temp staff. The Wave 26 survey currently collecting data will explore strategies operators are implementing to attract staff.” –Lana Peck, Senior Principal, NIC
“The respondents of the Wave 24 Executive Survey Insights appear to be cautiously optimistic, with hope that the shadow of the pandemic weathered over the past year is fading. The share of organizations reporting deceleration in the pace of move-ins and declines in occupancy rates is at the time series low for all care segments. In looking back over the past year and the 24 iterations of the Executive Survey Insights results, it’s apparent how closely the survey’s results have mirrored the reality experienced by many operators as they faced daily struggles to keep their residents and staffs safe from contagion—and to save lives.” –Lana Peck, Senior Principal, NIC
Key Takeaway: In absence of local data, feasibility analysts use the so called “70/30” rule, where 70% of a PMA’s potential residents come from within the PMA and the remaining 30% come from outside the PMA. Analysis using VisionLTC data, powered by NIC MAP Vision, shows the story is not that simple.