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Survey: Consumer Confidence in Retirement Savings Drops

by Jeff Shaw

WASHINGTON, D.C. — Americans are becoming increasingly less confident that they will have enough money to live comfortably throughout their retirement years, according to the 33rd annual Retirement Confidence Survey conducted by The Employee Benefit Research Institute (EBRI) and Greenwald Research. The report also finds both workers and retirees are greatly concerned about inflation and its impact on their savings and spending. The Retirement Confidence Survey (RCS) is the longest-running survey of its kind measuring worker and retiree confidence. “The confidence both workers and retirees have in their ability to …

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Webinar Panelists: Occupancy Growth Flattens Out Amid Dicey Economy, Higher Acuity

by Jeff Shaw

While overall private-pay seniors housing occupancy has now increased for seven straight quarters, according to the National Investment Center for Seniors Housing & Care (NIC), many operators are starting to see that growth slow to a crawl — still well short of pre-pandemic norms. According to Kelley Skarp of Arbor Company, this is due to a variety of factors, but most notably the general economic challenges of high interest rates and inflation. “In the current economic environment, people are looking at their wallets a little more closely,” said Skarp. “While …

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Webinar: Seniors Housing & CRM: Can You Predict the Future?

by Sarah Daniels

  The April 19 webinar “Seniors Housing & CRM: Can You Predict the Future?” is all about data — how best to use it to drive strategy and decisions, especially in the near future. Join sponsor WelcomeHome Software and a panel of seniors housing industry experts as they discuss customer relationship management (CRM) technology and analyze the WelcomeHome Year In Review: 2022 report. This hour-long webinar highlights the report’s findings and the best strategies in terms of occupancy, referrals and metrics to track within communities. Timestamps of major topics covered: (3:24) Report summary Occupancy since …

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Five Tips on How to Leverage Data and Analytics

by Sarah Daniels

State-of-the-art software tools can improve operational efficiency, enhance resident outcomes and boost the bottom line. What can you utilize that has a positive impact on both residents and business results? Data and analytics. With real-time information on performance, senior care executives and clinicians can identify and overcome roadblocks to success. New improvements in the use of data and analytics are helping to guide decision-making. Data mining can boost staff efficiency and profitability. At the same time, data entry is becoming faster and easier. Software tools with the latest graphics make …

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Seniors Housing Occupancy Increases for Seventh Consecutive Quarter

by Jeff Shaw

ANNAPOLIS, Md. — The private-pay seniors housing occupancy rate increased 30 basis points from 82.9 percent in the fourth quarter of 2022 to 83.2 percent in the first quarter of 2023, according to data from NIC MAP Vision released by the National Investment Center for Seniors Housing & Care (NIC). NIC MAP Vision is a product of the National Investment Center for Seniors Housing & Care (NIC), an Annapolis-based nonprofit firm that tracks industry data gathered from 31 primary metropolitan markets. Private-pay seniors housing comprises independent living, assisted living and …

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Bank Failures Could Cause Fed to Pause on Interest Rate Hikes

by Jeff Shaw

It’s an open question whether the Federal Reserve will raise the federal funds rate for a ninth consecutive time when it convenes March 21-22 following the collapse of Silicon Valley Bank and Signature Bank and the downgrade of the U.S. banking system by Moody’s Investors Service. Citing a “rapidly deteriorating operating environment” despite regulators’ efforts to shore up the industry, Moody’s early this week downgraded the U.S. banking system to negative from stable. Beth Mace, chief economist and director of outreach for the National Investment Center for Seniors Housing & …

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NIC Panel Discusses the Way Forward for Operators Feeling Financially Squeezed

by Jeff Shaw

SAN DIEGO — The one-two punch of the COVID-19 pandemic followed by a period of high inflation and soaring interest rates has had a negative impact on the performance of seniors housing, but the effects vary by subsector. The need to boost revenues is the primary issue in private-pay senior living, while a labor shortage remains the biggest drag on skilled nursing, say industry experts. Due to uncertainty over how these issues will be resolved, cap rates are rising to reflect the risk to investors. Operating margins for stable seniors …

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Cornell Institute for Healthy Futures Plans Symposium

by Jeff Shaw

ITHACA, N.Y. — To celebrate its first symposium since 2016, Cornell’s Institute for Healthy Futures is convening industry leaders and academics from across health, hospitality and design to collaborate on ways these combined disciplines can improve quality of life. Held on the Cornell campus in Ithaca from May 11 to 13, the event will include lectures and panels led by economists, senior living and hospitality entrepreneurs, and healthcare practitioners and designers. Beth Mace, chief economist at the National Investment Center for Seniors Housing and Care (NIC), and Rohit Verma, founding …

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Don’t Expect ‘Pivot’ by The Fed on Interest Rates Until Late This Year, Says NIC’s Mace

by Jeff Shaw

SAN DIEGO — After eight consecutive interest rate hikes by the Federal Reserve since March 2022, borrowers and lenders are wondering when the central bank will reverse its tight monetary policy stance. Don’t hold your breath. “There had been an anticipation that the Fed would pivot, so to speak, by June. I don’t think that’s going to happen,” said Beth Mace, chief economist and director of capital markets outreach for the National Investment Center for Seniors Housing & Care (NIC). “When I say pivot, I mean when the Fed is …

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Operators Say Storytelling is the Key to Selling

by Jeff Shaw

LOS ANGELES — Participants in the “Best-in-Class Operators” panel at France Media’s InterFace Seniors Housing West conference, held Feb. 2 at the Omni Los Angeles, had one task, albeit a large one: provide the blueprint for operational success in a challenging market. Though there were various strategies thrown out to combat the whack-a-mole challenges currently plaguing operators, panelists noted that the goal of seniors housing remains the same in any market: to increase occupancy and rents, which is done by providing a product people not only need, but also want. …

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