Senior housing occupancy in the second quarter was at the lowest level on record since the National Investment Center for Seniors Housing & Care began reporting data in 2006, NIC said Thursday. Individually, the sectors of assisted living and independent living set or matched previous record lows for occupancy in the second quarter, NIC Chief Economist Beth Burnham Mace told McKnight’s Senior Living.
As the COVID-19 pandemic took hold in the second quarter, units in the senior living sector emptied out as never before. Occupancy levels declined by 2.8% to 84.9%, according to the National Investment Center for Seniors Housing & Care. Both tallies were the worst ever recorded by NIC, which has been tracking such numbers for the past 14 years.
Occupancy downturns are continuing, even as many senior living operators begin accepting new residents. It’s a sign that the industry still has a long, slow recovery ahead, according to a report Tuesday in the Wall Street Journal.
Suspected and confirmed positive cases of COVID-19 are higher in senior living and care settings where resident care needs are greater, according to results of a small survey released Friday by the National Investment Center for Seniors Housing & Care. But, generally speaking, COVID-19 testing also is more prevalent in higher-need settings.
Experienced senior living operators are adapting to the effects of the COVID-19 pandemic and expect to come out strong on the other side of the current recession. Not all operators will survive, however, according to speakers at a National Investment Center for Seniors Housing & Care “Leadership Huddle” webinar Thursday.
Occupancy in independent and assisted living continued declining in May but could be stabilizing, the National Investment Center for Seniors Housing & Care said Tuesday as the organization released new data.
If the long-term care industry hopes to devise coping strategies for COVID-19, then operators across a wider spectrum of provider types must start submitting data to increase transparency about coronavirus infections and their effects, National Investment Center for Seniors Housing & Care President and CEO Brian Jurutka believes.
The share of organizations reporting an increase in occupancy from the prior month increased to its highest level since early April last week, according to data from the most recent Executive Survey results from the National Investment Center for Seniors Housing & Care.
A preliminary analysis of data released Wednesday on the incidence of COVID-19 cases in nursing homes finds more cases per capita in for-profit facilities compared with nonprofit or public homes.
After meeting virtually over two days at the end of May, members of the International Council on Active Aging’s COVID-19 Senior Living Task Force now are breaking into work groups to provide input into key areas to emerge from those discussions.
Although COVID-19 continues to hit the seniors housing industry hard in terms of increased operational expenses, most investors and capital providers still believe the sector is likely to withstand the current recession pretty well, according to speakers at a National Investment Center for Seniors Housing & Care “Leadership Huddle” webinar Thursday.
Although the pandemic has slowed the pace of move-ins for all seniors housing and care communities, continuing care retirement communities seem to be outliers. These settings generally have been experiencing less disruption to move-in rates and have seen greater stability in occupancy rates, according to a report released Thursday by the National Investment Center for Seniors Housing & Care, using a subset of the firm’s Executive Survey findings.
Skilled nursing occupancy numbers suffered their biggest hit since 2012 in March, as the initial effects of the COVID-19 pandemic began to set in. According to monthly data released Monday from the National Investment Center for Seniors Housing & Care, SNFs suffered a 132-basis point decline from the prior month and a 53-basis point decline from year-end 2019, declining to an occupancy rate of 83.4% in March.
A growing number of operators across all care segments now are reporting an increase in move-ins, according to data from the most recent Executive Survey results from the National Investment Center for Seniors Housing & Care.
A positive case of COVID-19 can more than triple a senior living operator’s equipment costs to prevent the virus’ spread, according to Belmont Village Senior Living President Mercedes Kerr. Kerr joined National Investment Center for Seniors Housing & Care Chief Economist Beth Mace Thursday for a NIC-sponsored webinar discussion on the ways COVID-19 is affecting senior living operators.
Virginia-based LifeSpire Living has a tentative date set of June 10 for the reopening of its four continuing care retirement communities to visitors and new residents. But as Jonathan Cook, the operator’s president / CEO shared in a recent National Investment Center for Seniors Housing & Care-sponsored blog, his communities have incorporated notable changes to keep residents safe, healthy and happy, even though they will likely take a toll on the operator’s bottom line.
Occupancy in senior housing fell 1.1% to 88.7% in April, according to data released Tuesday by the National Investment Center for Seniors Housing & Care. The rate was 1% lower than the prior year, NIC said.
The end of the coronavirus continues to be difficult to predict, but in the meantime, operators, investors and lenders can take contingency planning steps to address the myriad paths that may unfold, advises a recent National Investment Center for Seniors Housing & Care-sponsored blog.
Tony Mullen, who was a founder of the National Investment Center for Seniors Housing & Care in 1991, knew about the value of data before that knowledge became mainstream.
One in five operators saw an uptick in skilled care occupancy levels last week, according to responses provided by owners and executives at 100 seniors housing and skilled nursing operators nationwide. That said, 36% of the participants continued to report declines in occupancy for skilled nursing in the past seven days. Respondents with independent living and memory care units also reported slightly higher shares of improving occupancy rates from a week prior.