An Optimistic Industry Outlook: Senior Living on a Post-COVID Rebound

McKnight’s Senior Living is reporting on an exciting new rebound emerging through the senior living industry. This comes at a time when the industry was having a difficult time, occupancy across every level had hit an all-time low in early 2021, likely as a response to the disruptive COVID-19 pandemic. But there are now reports that things are changing for senior living; new leads are skyrocketing, move-outs have slowed, and occupancy is increasing.  

This information is being reported from McKnight’s Senior Living collecting data from 1,500 communities across the United States. It paints a promising and hopeful picture for senior living. The numbers show that since January 2021, occupancy rates have increased in independent living, assisted living and memory care, now nearing 80% across all three levels. The biggest improvement in occupancy was amongst independent living, which improved by 13% in under two years. 

Even with all this good news, operators within senior living still know they have many challenges ahead, in the aftermath of COVID-19 and in the face of a growing modern world. Technology is a focal point in terms of opportunity for communities, to provide their staff and residents the very best tools. Operators believe that with the right technology, an incredibly bright future of senior living can be now, not later. 

 

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Source:  

Lariccia, John. Rebound Emerging in Senior Living. McKnight’s Senior Living. 2022. https://www.mcknightsseniorliving.com/home/columns/marketplace-columns/rebound-emerging-in-senior-living/  

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