Healthcare, Senior Living, Economics
The smallest distinct segment of senior housing is Life Plan communities or CCRCs. Assisted Living, Independent Living and Skilled nursing, in each segment, dwarf the number of CCRCs yet, CCRC popularity remains and continues to grow, if ever so slowly. CCRCs run a gamut between large and small, entry fee to rental, with/without SNFs yet … Read more
I’ve done a number of presentations on the staffing challenges facing providers and how, certain strategies work and others don’t in terms of recruitment and retention. Over my 30 plus years in the industry, I’ve had reasonable (ok, very good) success in building and retaining high-performing teams, including direct care staff. I’ve been fortunate to … Read more
Each Friday (hopefully so), I will take a specific topic that has been in the news or been directly posed to me by a colleague or a reader and do a bit of a deep dive feature. This week it’s the future of nursing or more directly, nurses in senior housing and long-term care. As … Read more
I pay close attention to economic trends and to the health care industry in general, as the same are applicable. One trend I’m watching quite closely is business consolidation and mergers/affiliations. In the general economy, a lot of consolidation is occurring post-pandemic. Restaurants are closing outlets (Red Lobster, Krispy Kreme, Burger King, etc.), retail outlets … Read more
The first quarter is now in the books (so to speak) and the trend for senior housing remains about the same, a little better but not back to pre-pandemic levels. With a softening real estate market principally due to low inventory levels and high interest rates (by comparison to the past ten years), we are … Read more
There is a common business axiom, one I have used/repeated many times over: “You can’t save yourself to a profit(able business)”. In health care and in senior living/senior housing, challenges abound and almost daily, new ones arrive. Staffing is incredibly challenging, supply costs are rising, inflationary pressures have increased utility costs, investment portfolios are beat-up … Read more
As I mentioned in the prior two posts, litigation activity is on the increase, post-COVID, and some of the most fertile ground for plaintiff’s counsel is Assisted Living. SNFs are still as targeted but as stays decrease and facilities improve care capability, the trend remains level, for the most part. Where perhaps, Assisted Living and … Read more
Following up from my last post regarding staffing and litigation risks, this post concentrates on “what we know” and “what we can control”. For example, what we know is that there simply is not enough staff (clinical and even non-clinical) to fill a provider’s vacant positions. The world in general knows this and the press, … Read more
Not sure how many folks caught this brief article in McKnight’s….The article link is just below. https://na01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.mcknights.com%2Fnews%2Fplaintiffs-lawyers-gaining-edge-against-nursing-home-with-staffing-issues%2F%3Futm_source%3Dnewsletter%26utm_medium%3Demail%26utm_campaign%3DNWLTR_MLT_DAILYUPDATE_0329823%26hmEmail%3DIjP1GPaY%252BJ2uvsLxTJ79bVeRWY7ycbnr%26sha256email%3Daa4cb7c695037c31a216b9562788596b6fcd012145d566f31440b6fcd139c8a9&data=05%7C01%7C%7Cbc9c24d5cbe1440a07e908db314a2be7%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C638157966865063653%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=nvzAvsPBAwKo34DvYAWOf%2Fo5C0URgGaP4msv1jIubGk%3D&reserved=0 Post COVID, all of health care faced a seismic shift in staffing levels. COVID caused wide-spread disengagement in a labor force (clinical) already stressed in numbers. Retirements, especially of nurses, exploded. As COVID abated and the economy began … Read more
The beautiful, fascinating thing about health policy in the U.S. is its cycle of evolution. It evolves, sometimes slowly and other times quickly but always, in a progressive (not in the political sense) direction. Providers today can be lulled to sleep (quickly) by the vacuum drone of big policy lectures, webinars, etc., easily thinking for … Read more