Q: How and why is the senior living management function becoming more complex?
A: Here are three reasons:
- The management function must now deal with a very complex business model. Due to senior consumer preferences and increasing acuity, the senior living continuum is blurred and subject to extensive overlap.
- Third-party management companies are developing or acquiring increasingly complex resources. These resources include state-of-the-art software, systems and procedures, and sophisticated intellectual property.
- Regulation and licensing issues are presenting future challenges. Management must strike a delicate balance between operating in an increasing regulatory environment, optimizing resident satisfaction and clinical excellence and avoiding litigation while dealing with increased resident acuity within a blurred, overlapping living continuum.
These three are just a sample. There are many more, including covering increasing costs and sustaining economies of scale.
Jim Moore is president of Moore Diversified Services Inc., a national senior housing and healthcare consulting firm based in Fort Worth, TX, that has been serving clients for 46 years. He has authored five books about senior living and healthcare, including Assisted Living Strategies for Changing Markets and Independent Living and CCRCs. Jim Moore can be reached at (817) 731-4266 or firstname.lastname@example.org.