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Six ways to “win” in the senior living industry

February 21, 2017 Article 1 min read
Authors:
Jamie Timoteo Plante Moran Living Forward
Senior living "winners" will know how to handle strategy, real estate, staffing, technology, and more.

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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 >>

For a deeper dive into these solutions and how they can translate into improved occupancy, I recommend watching Dana’s recent webinar, “How to Improve Occupancy by Leveraging Technology.” You can watch the webinar on-demand at PointClickCare’s website:

Watch the webinar on-demand >>

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