Senior Housing News released its predicted trends for 2023 and we’ve read (and summarized) them below. But we encourage you to read the entire article – there is some seriously interesting stuff there!
1. Active Adult rental communities will continue to grow and evolve, with operators now having gained valuable experience from what was once an experiment and now is a key driver of resident interest in communities.
2. 2023 will be the year of the consumer – residents and prospective residents are demanding better and higher levels of service.
3. Third party referral services are going to be challenged – and existing referral services will need to step up their games.
4. Some Senior Living REITs may go private. Rumors are swirling around Brookdale, but Senior Housing News thinks others may follow suit to take some of the pressure off management to deliver results for investors in what is a tough market.
5. Tech giants have lost interest in joining the Senior Housing field – Amazon has wound down its telehealth and in-home care platform.
6. ESG (Environmental, Social and Governance) principals may become expected as more an more investors care about them and expect them from companies.
7. Consolidations are on the table – companies will seek to scale, but risk expanding too quickly and not being able to digest all they eat.
8. Data analytics will increasingly be used to analyze (and hopefully improve) performance.
9. Hospitals will look to senior living operators to take on more care; especially assisted living facilities which will be asked to do some of what was once the domain of skilled nursing.
This article is informational only. You should consult an attorney before acting or failing to act. Consult a Lowndes attorney if you wish to establish an attorney/client relationship.