Toward the beginning of the COVID-19 public health crisis, I authored a blog post highlighting some of the strategies that seniors housing and care operators were implementing to maintain resident wellness and engagement. Subsequently, I had the opportunity to present on this topic at the 2020 NIC Fall Conference. While preparing, it struck me how much these strategies have evolved over the course of just a few months as operators stepped up to the challenge of delivering an ever-greater sense of connectedness to their residents in this time of a global pandemic.
The 2020 NIC Fall Conference, though held on a virtual platform, presented all the relevance, insight, and expert analysis that attendees have come to expect from the industry’s premier event. Always a staple, sessions focusing on valuations this year were, for some, of particular interest. Amidst a historic global pandemic, which has driven sharp declines in occupancy rates, increased costs, drawn unprecedented media attention, and hastened operational disruption, NIC hosted two discussions on how all of this is impacting valuations across both seniors housing and skilled nursing property types.
Budgeting for capital expenditures has taken on a new complexity. Not only are investors changing their assumptions in the COVID-19 era, but the seniors housing stock is aging. A growing number of older properties need costly updates to stay competitive.
Managed Medicare revenue mix at 8.2% NIC MAP® Data Service released its latest Skilled Nursing Monthly Report on October 29, 2020, which includes key monthly data points from January 2012 through August 2020.