The Bright Side – The Start of a Warming Trend for Long-Term Care
Skilled Nursing and Senior Care Facilities have taken a significant hit with the pandemic over the past two years. The long-term care industry is working towards finding a way out of an exceedingly long line of concerns. If the pandemic has one upside, it would be that it opened our eyes to improving the care for aging residents. Operators are taking notice, working together to find ways to improve and provide the best optimal care for their residents and better tools for their employees.
Long-term care providers are moving forward with evaluating what they can do better, improving on what went wrong during the pandemic, and implementing new technology to ensure they stay on top of quality, staff retention, and compliance.
Because of this, we see a warming trend to a better tomorrow for long-term care. The average occupancy increased to 80.1% in the third quarter of 2021. That's a notable improvement from its pandemic low of 78.7%. According to Beth Burnham Mace, National Investment Center for Senior Housing & Care Chief Economist, "A significant rebound in demand combined with a modest increase in supply contributed to a 1.4 percentage point increase in senior housing occupancy." Occupancy increased in all sectors; assisted living, independent living, and skilled nursing.
"The pop in occupancy, slowdown in inventory growth, and jump in demand are all encouraging for the trajectory of the occupancy recovery," said Chuck Harry, NIC's Chief Operating Officer. While there are no guarantees that a complete occupancy rebound is imminent, it certainly appears to be headed in the right direction.
Senior living and rehabilitation services are essential for our society. The number of older adults will increase by 30 million between 2010 and 2030. Half of all Americans over the age of 65 will have a high level of need for personal care services.
We at CareWork believe it's of the utmost importance to improve services that support the long-term care industry to prepare today for a sustainable future.
CareWork was designed to make operations easier for long-term care. We give teams automated tools to increase quality, control costs, reduce waste, and get jobs done faster. Through integration with the systems providers already use, we give teams access to a single dashboard to strategically manage operations without the need to hire in-house IT experts. We make care work easier.
Ready to continue the warming trend? If so, contact us today.