Q: I keep hearing the senior living management structure is changing. What’s new?
A: Here are several issues:
- The complexity of the management function is increasing. Individual management contracts and entire management companies now are having to deal with a very complex, sophisticated senior housing business model.
- Management of the senior housing continuum is becoming more complex. Due to senior consumer behavior, preferences and increased acuity, the senior living continuum frequently is subject to extensive overlap.
- The property ownership and management company business mix is changing. Public firms and others are entering into a variety of sale/manage-back relationships with new owners.
- Third-party management companies are necessarily developing or acquiring increasingly complex resources. Typical resources include:
- Sophisticated systems and procedures.
- State-of-the-art software.
- Intellectual property.
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