You’ve got questions? We’ve got answers.
Q: What should I focus on?
A: Here are five key areas:
1) Increasing resident age and higher acuity — Many independent living communities are turning into “naturally occurring assisted living communities.” The need for assistance is increasing.
2) Aging physical plants — Physical plant retro t and cosmetic enhancement is a mandatory initiative for many campuses.
3) Increasing capital expenditure requirements — These investments can include functional design modi – cation, cosmetic enhancement and adding market-responsive features.
4) The expanding senior living and healthcare continuum — Many operators are specifically addressing Alzheimer’s/dementia, memory care and continuing care at home. They also recognize that the psychographics and “birthmarks” of prospects and their adult children/decision influencers have changed considerably.
5) Market positioning/ sales and marketing — Key strategies include sharpened marketing positioning, improving the lead management programs, and having very targeted and quantifed performance objectives and sophisticated social media strategies.
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.