NIC Notes

Insights in Seniors Housing & Care

COVID-19  |  Executive Survey Insights  |  Seniors Housing

Executive Survey Insights Wave 42: May 31 to June 26, 2022

By: Ryan Brooks  |  June 30, 2022

With the highly contagious omicron variant seemingly behind us and senior housing occupancy recovery continuing for the third consecutive quarter through Q1 2022, there is waning optimism regarding operating margins. In the Wave 42 survey, almost 60% of survey respondents expect margins to increase in the next six months, although this is down from 75% of respondents in the Wave 38 survey. Rising operating expenses limit the degree to which operating margins will grow in the next six months. Staffing challenges remain top of mind. Only 20% of respondents indicate that staffing challenges will improve in the next year, while 20% indicate it will take until 2024 to see improvement, and 30% signal staffing issues will not improve until 2025 or later. The most effective method cited for attracting new community staff is increasing wages (65%), followed by flexible schedules (15%), and hiring bonuses (5%). Staffing and a slowdown in lead conversions are affecting the pace of move-ins, which slowed for memory care and nursing care properties, but remained consistent for assisted living and independent living properties.

Business Environment  |  COVID-19  |  Executive Survey Insights  |  Market Trends

Executive Survey Insights | Wave 41: May 2 to May 27, 2022

By: Ryan Brooks  |  June 02, 2022

In a new question in the Wave 41 survey, respondents were asked whether they found the acuity of new resident move-ins to have increased, decreased, or stayed the same as compared to before the pandemic. Significantly, move-in acuity has increased for 71% of the respondents with assisted living, and for more than 60% of respondents with memory care units and nursing care beds. In independent living settings, 41% of respondents report acuity having increased since before the pandemic. The shares of organizations reporting acceleration in nursing care move-ins continued to increase – from 21% in Wave 37 conducted in January 2022 to 68% in Wave 41. This marks the fourth consecutive wave where the pace of nursing care move-ins has increased from the prior wave. Over one-half of respondents to the Wave 41 survey (53%) reported lead volumes above pre-pandemic levels in May – a noteworthy increase from the Wave 38 survey reflecting results in February (33%).

Business Environment  |  COVID-19  |  Executive Survey Insights  |  Market Trends

Executive Survey Insights | Wave 40: April 4 to May 1, 2022

By: Lana Peck  |  May 05, 2022

In a new question in the Wave 40 survey, respondents were asked whether they planned to increase, decrease, or not change their current care offering unit mix. Significantly, one-half of organizations expect to increase the independent living care segment over the next 12-months. On the flip side, one out of five respondents (21%) expect to decrease the nursing care segment. Regarding the current share of all full-time open positions across respondent organizations, in the Wave 40 survey, one-quarter have more than 20% of positions currently unfilled.

Business Environment  |  COVID-19  |  Executive Survey Insights  |  Market Trends

Executive Survey Insights Wave 39: March 7 to April 3, 2022

By: Lana Peck  |  April 07, 2022

Just over one-quarter of respondents noted that the severity of their staffing shortages across their organizations was severe, while two-thirds indicated the problem was moderate. Of significance, one-quarter of respondents had more than 20% of full-time positions currently unfilled. Regarding tenure of full-time employees, on average, just under one-half of organizations retained more than 80% on the job after one month. However, after one year, only 17% of organizations still had over 80% remaining on the job. Staffing shortages are often due to the inability to fill nursing aide positions, but wage competition and the inability to hire nurses also factored highly.

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