21 Mar Learn about the Top Senior Housing Trends for 2019
Senior housing providers and other industry stakeholders may be feeling a sense of dread going into 2019. Occupancy is at a low point, labor expenses are surging amid sharp workforce challenges, new competition continues to pressure certain markets, construction costs are up and aging baby boomers are not yet entering communities in huge numbers.
While there are some promising signs, such as a slowdown in new construction starts, there are also no clear indications that industry headwinds will abate much in the next 12 months. Yet, the new year should also bring a sense of promise. In many ways, it’s an exciting time for senior living, especially for companies that can weather near-term challenges and seize opportunities while the competition struggles.
One thing is certain: Leaders across the sector will be busy reading the tea leaves this year, trying to gain insight into where the industry is heading as major shifts take hold in terms of payment, technology, consumer expectations and in other areas.