How to understand consumer behavior to innovate senior living. About 19 million people belong to the silent generation (born 1928-1945). They are the senior living customers of today. Compare that to the 70 million baby boomers (born 1946-1964) just starting to enter the pool of potential residents.
“Organizations reporting an increase in the pace of move-ins has held steady now for several consecutive waves. When the BA.4 and BA.5 variant surge occurred in summer of 2022, the rate dropped from more than 50% of operators reporting an increase in the pace of move-ins to the current ~40%. Operators may now be combatting what is being referred to as the ‘tripledemic’ – a collision of RSV, influenza, and COVID-19 that is sickening millions – which may be tempering move-ins. Lead volumes being reported are higher now than in most previous waves, but as noted above with the pace of move-ins holding steady, the reported increase in lead volumes is not yet materializing with move-ins." --Ryan Brooks, Senior Principal, NIC
Moving from Siloed to Seamless NIC Co-Founder and Strategic Advisor Robert Kramer has identified “Six Key Drivers” that will shape the senior living industry over the next 10 years. Kramer is also Founder & Fellow at Nexus Insights, a think tank advancing the well-being of older adults through innovative models of housing, community and healthcare. NIC Notes is publishing a series detailing each key driver. View the first five installments of the "Six Key Drivers" blog series.
“Medicaid represents over half of the revenue for skilled nursing properties. It is vital for operators and investors to pay close attention to the reimbursement trends in their states as most states do not cover the cost of care.”