Amid deteriorating finances that don’t allow for much-needed building infrastructure updates, the only skilled nursing facility in the town of Norton, MA, will be closing by early next year and will be turned into an assisted living community, according to its owners.
One of the biggest outcomes of the pandemic on the life plan / continuing care retirement community sector has been giant leaps made in recognizing the importance of connectivity within the lives of older adults and taking steps to ensure that it continues in spite of not being able to see each other in person, said speakers Wednesday at the LeadingAge Annual Meeting Virtual Experience.
About one-fourth (24%) of senior housing and skilled nursing operators now expect their development pipelines to decrease. That’s according to data collected from the most recent Executive Survey conducted by the National Investment Center for Seniors Housing & Care.
Two quarters into the COVID-19 pandemic, occupancy within continuing care retirement communities has remained nearly 9 percentage points higher than occupancy within non-CCRCs. That’s according to data released Wednesday by the National Investment Center for Seniors Housing & Care’s NIC MAP Data Service.
The trend of declining occupancy rates for skilled nursing continued in August as a result of the ongoing effects of COVID-19. Operators saw occupancy rates fall another 81 basis points from July to August, dropping to a new low of 73.8%, according to the latest Skilled Nursing Monthly Report from the National Investment Center for Seniors Housing & Care’s NIC MAP Data Service.
Higher staff wages for some senior housing operators likely are putting a strain on net operating income, according to data collected from the most recent Executive Survey conducted by the National Investment Center for Seniors Housing & Care.
The immediate necessity of telehealth due to the pandemic will diminish soon, we hope, but continued investment and use will be critical to enabling older adults to have healthcare come to them rather than them being shipped out for their healthcare, often against their, and their families’, wishes.
Assisted living and skilled nursing facilities are reporting an increase in the pace of move-ins over the past 30 days, according to data collected from the most recent Executive Survey conducted by the National Investment Center for Seniors Housing & Care. In fact, results show that move-ins have risen to their highest levels since the survey began in March (43% and 46%, respectively).
Independent living and assisted living communities saw their largest occupancy drops on record in the third quarter of 2020, according to data released Thursday by the National Investment Center for Seniors Housing & Care’s NIC MAP Data Service. NIC Chief Economist Beth Burnham Mace described the declines as “steep” and “significant” and said they reflected “the apparent impact of the coronavirus.” She noted, however, that the pandemic may contain a “silver lining” for the industry.
