What are your predictions and New Year’s resolutions, personally and professionally, for 2022?
The rebound is inbound
By Robert Chapin
CEO, Co-Chief Investment Officer, Seniors Housing & Medical Properties
Bridge Investment Group
The for-rent, private-pay seniors housing industry has come through the most challenging period in its history. I predict, as we emerge from the bottom, our product and service offerings in 2022 and beyond are more relevant and valuable than ever before. We will see the market embrace our product through a more positive lens for the best care, safety and quality of life for aging loved ones.
My New Year’s resolution is to execute well on the things that matter. It is easy to get distracted on time-consuming issues in our business that don’t matter. We’re constantly improving communication with the team, which for me means emailing less while calling and meeting in person more. I want to make sure that we are consistent in messaging to our team the three or four things that really move the needle in our business and that we have relentless focus.
Big changes for consumers, employees
By Jacquelyn Kung
CEO
Activated Insights
2022 will be a tipping point year — first, with consumers.
Lead aggregator A Place For Mom, for example, will get a new owner. This opens the door for a national consumer publisher like U.S. News & World Report to bring real data from real customers. Since 85 to 89 percent of our customers say we are “good” or better, we will start owning our own stories versus the negative news that has flooded us.
The second tipping point is with employees. Receiving a Great Place to Work certification will be table stakes. Being a great place to work for all employees, as transparent through the Fortune rankings, will be even better. This national recognition co-exists with robotics and immigration starting to augment our workforce needs.
We will adapt, move forward
By Megan Longley
Vice President, Sales
Acts Retirement-Life Communities
I am feeling cautious optimism for the year ahead. At this point our “pivot muscles” are finally honed and, with that, a confidence that we can adapt and move forward.
I also believe we will continue to make incremental but meaningful improvements in revenue. Staffing and investment in our teams will likely remain the most dynamic component of our work ahead.
Our New Year’s resolution is to spend as much facetime with our teams as possible. It’s time to celebrate them.
Expect an uneven recovery
By Paul Gordon
Partner
Hanson Bridgett LLP
It will be another year of progress, with volatility and setbacks — two steps forward and one step back. The major forces of a growing senior population and its need for care and services will be diluted by COVID fears and inflation.
In the legal liability arena, there will be more COVID-related lawsuits. However, because of the history of confusing and sometimes contradictory guidance from multiple authorities, it will be harder to hold senior living providers to a clear standard of care.
My New Year’s resolution is to familiarize myself with the remaining letters in the Greek alphabet.
The rebuilding continues
By Jerrold Frumm
Vice Chairman, Chief Investment Officer
Senior Lifestyle
In 2022, senior living operators and owners will display resourcefulness, resolve, reliability and resiliency as we continue to rebuild, recreate and refine senior living.
My New Year’s resolution is to, both personally and professionally, display the same qualities as above, all with a good helping of appreciation and gratitude.
Time to consider growth
By Ben Firestone
CEO
Blueprint Healthcare Real Estate Advisors
Seniors housing occupancy will continue to rebound and an effective rate-growth strategy will be central to the success of operators industrywide in 2022.
My New Year’s resolution is to get back on the road and visit with my industry friends around the country.
Move forward in the new world
By Ashley Rauls
Owner, COO
Rauls Living
In 2022, I expect that our industry will rise above the virus and normalize the alterations that we’ve had to make in our day-to-day operations, resident lifestyle and business strategy.
We’ve coexisted with the virus for nearly two years; the shock of another variant or another rise in cases should be wearing off. When you accept what you cannot change and focus on the things you can, life gets easier. I’m not dwelling, I’m moving forward in 2022.
Progress is being made
By Alan Plush
CEO, Partner
HealthTrust
By the end of the year we will see that much progress had been made relative to labor and COVID. Early signs point to Omicron being a rapidly spread, but less serious, variant and hopefully that leads to herd immunity.
Labor issues should be closer to being resolved as the market grapples and rebalances. Progress on these two fronts will assist the slow but steady improvement in industry fundamentals, which will further investor interest in our industry.
My perpetual New Year’s resolution is to lose weight.