By: NIC | December 08, 2020
For seniors housing and care operators, the battle to protect residents from the deadly COVID-19 global pandemic can get personal. Their experiences, particularly in the early days of the disease’s spread, shed light on the immense effort it has taken to protect America’s most vulnerable elders, and also on the toll that struggle has taken on residents – and staff – alike. The 2020 NIC Fall Conference presented a collection of “Operator Spotlights” designed to provide some first-person insight straight from the leaders who have been facing the pandemic, and its many challenges, every day since it first hit the U.S. Each spotlight focused on not only the challenges faced, but the solutions leaders put in place—short term and long term—to protect their staff and residents from potentially spreading or contracting the disease.
Economic Trends | Senior Housing
By: Beth Mace | December 04, 2020
The Labor Department reported that nonfarm payrolls rose by 245,000 in November and that the unemployment rate fell to 6.7% from 6.9% in October. This suggests that the employment recovery from the COVID-related drop in March and April continues, but at a decelerating pace. The consensus estimates for November had been for a gain of 470,000. In November, nonfarm employment was below its February level by 9.8 million jobs or by 6.5%.
COVID-19 | Executive Survey Insights
By: Lana Peck | December 03, 2020
“Due to growing cases of COVID-19 in many parts of the country, market conditions appear to be trending in a similar pattern to that seen earlier in the pandemic. More organizations in Wave 16 reported occupancy rate declines over the past 30 days in the segments serving residents with higher levels of care needs as the pace of move-ins has slowed. The deepest occupancy rate declines were in the nursing care segment, with about one-third of organizations with nursing care beds reporting occupancy declines of three percentage points or more. Residents moving to higher levels of care, cited by one-half of respondents, may be one of several possible factors in greater shares of organizations reporting an acceleration in move-outs for each of the care segments. As potential new residents wait on the sidelines and delay moving into properties, operators remain challenged to backfill newly available units. Recent announcements of vaccine approvals should help restore occupancy in the coming months.”
Business Environment | Economic Trends | Ideas and Discussion | Senior Housing | Skilled Nursing
By: NIC | December 02, 2020
In “Dramatic Moments in History: Another Period of Disruption,” Kurt Read, Chair of the Board of Directors, NIC; and Principal, RSF Partners; provided attendees of the 2020 NIC Fall Conference with a review of the seniors housing and care industry’s performance characteristics since NIC was founded in 1991. This is the third and final post in our blogging series that provide the key takeaways from that session which reviewed the past 30 years of investment in seniors housing and care. In this post, we touch upon NIC’s role through those years, and look to the years ahead, with thoughts from a new generation of leaders sitting on NIC’s Future Leaders Council.
