NIC Notes

Insights in Seniors Housing & Care

Business Environment  |  Executive Survey Insights  |  Market Trends  |  Senior Housing  |  Skilled Nursing

Executive Survey Insights Wave 47: October 17 to November 13, 2022

By: Ryan Brooks  |  November 17, 2022

“Single-site operators and those with between two and nine properties were more likely to be considering product diversification, with single-site operators favoring lower acuity settings (36%) and those with between two and nine properties equally considering lower acuity (20%) and higher acuity settings (20%). With regards to expected changes to various care segments in their portfolio of properties, approximately half of respondents expect to increase the active adult (age 55+) and independent living care segments, while just under one-half (45% and 41%) anticipate increases in their assisted living and memory care segments. When asked about the contributing factors to the acceleration of move-outs, operators cite residents moving to higher levels of care as the leading cause (45%), followed by deaths (35%), resident and family member concerns (10%), natural disasters (5%), and current economic conditions (5%).”

Business Environment  |  Executive Survey Insights  |  Market Trends  |  Senior Housing  |  Skilled Nursing

Executive Survey Insights Wave 46: September 19 to October 16, 2022

By: Ryan Brooks  |  October 20, 2022

“Increased acuity of residents at move-in is being reported across all care segments, driven by delayed move-ins, but the most cited challenge facing operators – reported by more than 90% of respondents in the Wave 46 survey – is rising operator expenses. Responses to questions on property and professional liability insurance provide additional insight into that sentiment. Just under one-tenth of respondents reported the degree of staffing shortages across their organization to be severe, representing the lowest share of respondents reporting severe staffing shortages in the time this question has been asked. Though labor challenges persist, this may represent a glimmer of relief to the longstanding staffing crisis. Further, the survey results indicate that rent concessions are being offered at fewer properties now than was the case in earlier parts of 2022."

Executive Survey Insights  |  Market Trends  |  Workforce

Executive Survey Insights Wave 45: August 22 to September 18, 2022

By: Ryan Brooks  |  September 23, 2022

“Just under one-fifth of respondents noted that the severity of staffing shortages across their organization was severe, while two-thirds indicated the problem was moderate. Regarding tenure of newly hired, full-time employees, on average, just under one-third (29%) of organizations kept more than 80% of new staff on the job after one month, which is down from the Wave 39 survey, conducted in March 2022, when just under one-half (46%) of respondents kept more than 80% on the job after one month.

Executive Survey Insights  |  Market Trends  |  Workforce

Executive Survey Insights Wave 44: July 25 to August 21, 2022

By: Ryan Brooks  |  August 25, 2022

Rising operating expenses now surpass staffing challenges as the most frequently cited response to the question from Wave 44 which asks about “the biggest challenge facing my organization today.” Employee turnover and attracting community and caregiving staff (which have traditionally been cited as the top challenges among survey respondents) are now coming in as the 2nd and 3rd biggest challenges organizations are confronted with. That said, a promising sign of relief to the long-standing labor market issues may be that 15% of responding organizations anticipate their staffing challenges will improve in the second half of 2022 and half of respondents (47%) anticipate their staffing challenges will improve in the first half of 2023.

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