A majority (64%) of senior living communities reported no COVID-19 deaths in 2020, according to an analysis of COVID-19 deaths across the long-term care residential continuum released today.
Senior living providers have incurred $22.5 billion in pandemic-related costs to date, with uncompensated financial losses expected to grow to $29.8 billion through the first half of this year, according to new data from Argentum.
Opportunity called, and it’s time for change. Tom Meyers, senior managing director of specialty investment bank Ziegler, used that phrase during a “State of Senior Living 2021” webinar Tuesday with representatives from consulting firm Plante Moran and architecture firm Perkins Eastman to characterize the perfect timing for life plan communities to seize on pandemic lessons learned and redefine the future.
Senior living is looking for a piece of the latest $350 billion pandemic relief pie that was announced Monday for state and local governments. The U.S. Department of the Treasury announced the launch of the Coronavirus State and Local Fiscal Recovery Funds. The plan permits state and local governments to distribute relief funding through the American Rescue Plan Act of 2021 and extend “support for industries hardest hit by the crisis.”
Looking to “flip the script” on a year of negative headlines in the lay media surrounding the senior living industry, a new campaign is promoting “stories from the inside” to highlight the positive.
“We’re not there yet.” That’s the message from the U.S. Centers for Disease Control and Prevention to operators of independent living, assisted living, continuing care retirement and affordable senior housing communities, as well as adult day centers. During a virtual session Monday about challenges and strategies for managing COVID-19, the agency said that its guidance is not yet changing for those types of providers.
Senior living needs to consider providing elements of the consumer experience to remain relevant, Eric George,M.D., founder and CEO of ERG Enterprises and an entrepreneur, wrote Monday in an article for Forbes.
Last year, amid the turbulence of the overall U.S. commercial real estate industry and increasing volume declines, many investors increased their activity in some alternative property sectors, including seniors living, according to an analysis released Tuesday by real estate and investment management firm JLL.
COVID-19 has had a devastating effect on the senior living industry. But industry experts said Wednesday that they are optimistic it will emerge a better product on the other side.
The average price per unit in assisted living fell 30% from 2019 to 2020, driven by the sale of numerous “lower-quality” assisted living communities, according to newly released data.
