Delivering Value to Senior Living Residents Through Healthcare Collaboration

Older adults choosing where they live is becoming increasingly dependent on how they want to live. Baby Boomers are determined to live with a sense of greater purpose—connected to their personal interests and those of the community around them. As part of that greater purpose, this generation is prioritizing their health and well-being. Senior housing has a significant role to play now, and in the future, to help deliver the value that residents demand.

The 2023 NIC Spring Conference offers a deep dive into how senior living can integrate healthcare services to provide better outcomes to residents. Understanding how operators and investors can incorporate healthcare services into senior housing—from prioritizing services to integrating models for how to deliver and pay for them—will be critical to meeting residents’ needs. Several Conference sessions will explain how emerging strategies for paying for resident healthcare services give operators the best opportunity to provide high-quality care at lower costs. 

Value-based care aligns payment for healthcare services with clinical quality and performance for better patient health outcomes, rather than payment aligned with the volume of care delivered. This type of care delivery model rewards providers for the “value” a patient receives as a result of their care—which can lead to better outcomes for patients, greater patient satisfaction, and lower system-wide costs. Senior housing facilities that integrate healthcare services for older adults through value-based care delivery models can provide residents with purposeful living while gaining a competitive advantage over facilities that fail to prioritize healthcare. 

The NIC Spring Conference features five exciting sessions to help senior housing providers effectively adopt value-based care delivery and payment models now and in the future. 

Healthcare payers are increasingly looking to partner with senior housing and long-term care operators to grow their practices effectively. The “Emerging Value Based Care Opportunities for Seniors Housing & LTC Operators” session will explore the different partnership options operators looking to participate in value-based care models should seek out.

Learn from your peers about how value-based care models and at-home primary care can benefit both residents’ health and operators’ business models in the “Benefits of Integrating Primary Care into Senior Housing” Innovation Lab. Speaking of care delivery, Dr. Sachin Jain, CEO of SCAN Group & Health Plan, will give a keynote address called “Trends and Opportunities in Medicare” to explain senior living’s opportunity to serve Medicare enrollees as care delivery and payment models evolve and generate untapped efficiencies for senior living providers. 

In the hands-on “Customizing a Value-Based Care Strategy for Operators” workshop, attendees can test their knowledge of value-based care models and work with fellow attendees to identify the first steps needed to build partnerships between housing and value-based care providers.

The “Taking Your Show on the Road: Bridging Care Gaps by Extending Services into the Community” session will highlight the wide range of options hospital and skilled nursing providers are exploring to extend their services into the senior living community, including hospital-at-home, skilled-nursing-at-home, and community-based special needs plans. 

Finally, how can operators harness value-based care opportunities to create a sustainable future of quality healthcare in senior living? Dr. Nirav Shah, Senior Scholar at Stanford University’s Clinical Excellence Research Center, will lead a keynote session called “The Future of Health and Healthcare: How Will Senior Living Operators Differentiate Themselves?” about the significant advances in health technology that are altering the landscape of opportunities for operators and investors in senior housing and how they can help senior living residents live healthier lives. 

Be sure to join us for these valuable learning sessions at the 2023 NIC Spring Conference. To register or learn more about these sessions and our other programming, visit our website. 

For more on the basics of value-based care and why it matters in senior living, see this interview with Andre Maksimow, Senior Vice President, Kaufman Hall, in the January 2023 edition of the NIC Insider newsletter.