Senior living managers are sensing heightened resident interest in transparency- and engagement-related issues, a new report finds.
Fully 92% of respondents reported their residents are “very interested” (59%) or “somewhat interested” (43%) in transparency of information and processes. Here, residents showed the most interest in expansion and renovation details, followed by monthly service fee pricing, sales/occupancy levels, capital/operating reserves and entrance fee pricing/refunds.
Respondents said successful operator strategies to meet this desire include: providing information to residents on a regular basis and hosting regular open “town hall” meetings.
Nearly one in five (18%) respondents indicated that residents’ desire for engagement decision-making is higher now than it was three years ago.
Operators can respond to this greater awareness by providing a forum for residents to provide input, such as resident councils or committee meetings.
“The survey results reinforced that life plan communities are exploring how best to respond to changing desires in changing times,” wrote Mary Leary, who is the CEO of Mather Lifeways.
Mather’s Institute on Aging conducted the survey of 279 CEOs, executives and others who oversee life plan communities (also known as continuing care retirement communities) between November 2016 and March.
The full report is available here.