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SENIOR LIVING COMMUNITIES (SLC) MUST EMBRACE 360 DEGREE CARE
Changing demographics, changing public attitudes, the economic recession, and healthcare reform have placed an unprecedented demand on senior living communities to streamline operations and evolve services. In light of these challenges, many new, significant opportunities have emerged that require new business and operational models to succeed in the long run. Technology will play a key role.
IMPERATIVES FOR SENIOR LIVING COMMUNITIES
Bricks and mortar services are shifting to consolidate services for efficiency and longer length of stay.
Independent living becomes more like assisted living
Assisted living becomes more like skilled nursing
Dedicated Alzheimer's care facilities appear and are added to communities
Cannot rely on differentiation through amenities alone
Prospective residents are sicker driving higher cost of care
Safety is a key senior and family concern
Squeezed to do more with less
Seniors are staying at home longer
Held more accountable for quality of care & service
BABY BOOMER REQUIRE NEW APPROACHES:
- SMART & PICKY Baby boomers are info junkies who like to shop around
- A FAST-GROWING GROUP Each day there are 7,000 new Medicare entrollees1
- FACING CHRONIC CONDITIONS 45% of seniors have two or more chronic conditions2
TECHNOLOGY CAN HELP DRIVE INCREASED
QUALITY OF CARE & SERVICE DIFFERENTIATION
CARE MODELS MUST CHANGE
Technology can provide a 360 degree view of resident care, including prevention and response.
new technology seen as an amenity or upgrade
PRESENT & FUTURE
technology is a necessity, driving brand preference and loyalty
SLCs must see a new value proposition and use technology to manage their businesses differently.
Increase market share
Improve quality & safety
The industry must change from reactive emergency response to include proactive smart monitoring to provide residents with a higher level of quality and safety.
Increase resident demand
ONE EXAMPLE: SMART SENSOR TECHNOLOGY
PROVIDE A COMPETITIVE DIFFERENTIATOR
Peace of mind for residents and family members
Innovative and high-quality approach
GET MORE CUSTOMERS
INCREASE LENGTH OF RESIDENCE BY IMPROVING SAFETY
Help staff address issues before they become a crisis
Help staff react to falls when they happen
Retain residents and reduce churn
INCREASE REVENUE & PROFITABILITY
INCREASE STAFF EFFICIENCY & CAPABILITY
Data analysis center
Alerts sent to staff so they can proactively address any abnormal activity patterns
Comprehensive reports available online
Take guesswork out of resident supervision and staff response
THE BOTTOM LINE:
Care Innovations® QuietCare®, a smart sensor solution, may help control costs, increase revenue and get more customers. One study by GE Healthcare indicated higher occupancy rates in senior care communities using Care Innovations® QuietCare® and an increased—by up to 60%—length of stay. In addition, a need for higher levels of care, and associated service levels resulted in an average monthly service increase in revenue of $107 per resident.3
2 "Medicare and Chronic Conditions," New England Journal of Medicine, Gerald F. Anderson,p. 305 (July 21, 2005).
The QuietCare system is not an emergency response or alarm system and is not intended for providing medical care. Data from the QuietCare system should not be relied on as medical advice or clinical diagnosis