While it is still early to say if the seniors housing and care market is showing strong and durable signs of a recovery, several indicators from the NIC MAP® Data, powered by NIC MAP Vision, and from NIC Analytics have sparked cautious optimism and suggest that we may be at least at the bottom of the cycle. Occupancy rates may have reached the low point in February and March of 2021; however, the outlook for when occupancy will return to pre-pandemic levels remains a question.
NIC provided a grant to NORC at the University of Chicago (NORC) to study the disparate effects of the pandemic on different seniors housing and care settings. The study results have just been released.
A look back at a year’s worth of data on COVID-19 case counts in U.S. nursing homes reveals some surprising insights, and some important questions. The data indicate that U.S. skilled nursing facilities (SNFs) are currently the safest places to be for frail older adults, who are most susceptible to the virus. In fact, case counts within SNFs are down 98% since the December 20th launch of the long-term care vaccination program. By May 16, they accounted for about 0.3% of U.S. cases.
“Executive Survey Insights results suggest that the seniors housing and care market fundamentals may have reached a turning point at the end of March 2021. According to survey respondents, leads volume continues to grow and the shares of organizations reporting accelerations in move-ins continues to trend positively. These leading indicators have been translating into higher occupancy rates since the Wave 25 survey, conducted in the latter half of March.”