In a recent interview with Senior Housing Forum’s Susan Saldibar, Plante Moran Practice Leader Dana Wollschlager discussed the challenges ahead for the senior living industry and highlighted six ways senior living providers can come out ahead of their competition.
How to win over the competition
Senior living “winners” will know how to:
1. Be strategic with their technology.
Each piece of technology will have clear benefits for the residents and staff — and provide a strong ROI.
2. Price services to be fair to both the residents and their business.
An integrated technology platform will ensure your services are adequately priced to cover your costs, optimize cash flow, and stay competitive.
3. Manage by exceptions.
New technology such as sensors will improve staff efficiency as they monitor residents — a cost-effective solution that increases efficiency and improves care.
4. Speak to their consumer’s values.
Providers who come out ahead of the competition will provide amenities and features that consumers are willing and able to pay for.
5. Integrate into the community.
Seniors want to live on your campuses and in the community, so providers who integrate will have an advantage over their competition.
6. Entice workers to join and stick around.
Younger workers are driven by more than just money — given an open working environment, young staff will make an impact and be part of the team for the long run.
More tips for the senior living winner
Dana makes a lot of great points in this article, touching on strategy, real estate, and more. Read the rest on Senior Housing Forum >>
