Senior Living Trends to Watch
Posted by Donna Mae Scheib on January 31, 2017
Senior Living Trends to Watch
What you can expect from the senior living industry
Senior living demands and expectations are constantly evolving. The new year is set to bring multiple changes, particularly as the new administration makes decisions that impact that the healthcare system and economy.
Along with economic shifts, there have been advancements in technology, medicine, and our views of aging. There’s a lot of uncertainty about the future right now, but the following are important trends to keep an eye on in this year.
Increased Competition
Senior housing providers are likely to face increased competition this year. There has been a lot of new construction. Brookdale, the largest senior living provider in the US, admitted to facing increased competition in several markets in the third quarter of 2016, which hurt their numbers.
The decline of Nursing Homes
We’ve seen this trend for a while now, but the nursing home model of care is in decline. The senior living industry has been moving toward other senior housing options, including independent living, assisted living, and home care. This shift will be further accelerated as the cost of skilled nursing increases and there are additional cuts to Medicare and Medicaid.
Rise of Technology
Technology is set to revolutionize senior care, from home computer systems that enable caregivers to keep track of medications and vital signs, to mobile support for seniors living in independent living communities.
A growing number of seniors are computer-savvy and expect to have access to state-of-the-art technology. Computers play an important role in the lives of many of today’s seniors, who prefer to be connected so that they can maintain independence.
University-Based Retirement Communities
There is a trend in which retirement communities are being built in close proximity to college campuses so that active seniors can be involved in learning and fitness and take advantage of the amenities offered on campus. Senior living communities can share the library and fitness center with a university.
Wellness Programs
Seniors are waiting longer to leave their homes and move into senior living communities. A growing number of senior living facilities are implementing health and wellness programs to promote the wellbeing of their residents and increase the length of their stay. These health and wellness programs typically consist of fitness classes, healthy meal options, and spiritual and educational programs.
Larger Apartments and More Amenities
Senior living apartments will become larger in order to cater to residents who prefer having more spacious living areas. Studios used to be the most common type of assisted living space, but one-bedroom apartments are now becoming the norm because they allow residents to keep more of their furniture and personal items with them. Amenities that these apartments might include are enhanced kitchenettes, patios and balconies, and spacious closets.
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