The National Investment Center for Senior Housing Industries (NIC) reports in their February Newsletter that average resident turnover is 50%+ for assisted living and 30% for independent living. They also report that median occupancy rates for senior housing is now averaging:
90% - Independent Living
87% - Assisted Living
91% - CCRCs
87% - Nursing Homes
What does this mean to the consumer? Several things. First, the relatively high occupancies mean the over-supply of a couple years ago is working itself out and owners will probably be able to charge somewhat higher rates than they did when they had more occupancy problems.
Second, the high turnover levels indicate that people who move in are not staying long. This could be because they didn't like the facility, but could also mean they chose a place that couldn't handle their needs as they changed, and the resident subsequently had to move on to a place where they could get more care. Whichever it is, a short stay in an assisted or independent living facility is probably not good for anyone. The move is too traumatic if it isn't going to last.
I think the take-home message is that anyone investigating independent or assisted living facilities should be sure to ask lots of questions to help determine how long that solution can be expected to work, especially if the resident's condition deteriorates somewhat in the future.
The National Investment Center for Senior Housing Industries (NIC) reports in their February Newsletter that average resident turnover is 50%+ for assisted living and 30% for independent living. They also report that median occupancy rates for senior housing is now averaging:
90% - Independent Living
87% - Assisted Living
91% - CCRCs
87% - Nursing Homes
What does this mean to the consumer? Several things. First, the relatively high occupancies mean the over-supply of a couple years ago is working itself out and owners will probably be able to charge somewhat higher rates than they did when they had more occupancy problems.
Whether you're exploring options for yourself or for your aging parents, you know that navigating the world of health care services and long-term-care facilities can be a daunting task. Consumer Reports, well known as an objective and unbiased source of information, has created a guidebook to selecting long term care. The handbook is designed to help readers find the right services and secure them at the lowest cost. Some of the questions they try to answer include:
- How can you take advantage of pharmaceutical company drug-assistance programs? - What essential services should a home health aide provide? - How can you calculate annual health care expenses? - How do you decipher a state survey report for a nursing home? - Where can you find adult day care? - What should you look for in an assisted-living contract?
They also discuss the ins and outs of paying for health care services, including Medicare coverage and insurance options; and include city-by-city ratings for Medicare HMOs and Medicare supplement insurance policies, as well as a guide to how well each state is monitoring nursing homes, worksheets and tables to help people figure out their assets, judge an assisted-living facility, compare home care costs, evaluate an HMO drug plan, and comprehensive appendixes to guide readers to state-by-state information on insurance counseling, advocacy groups for the elderly, other helpful organizations.
Whether you're exploring options for yourself or for your aging parents, you know that navigating the world of health care services and long-term-care facilities can be a daunting task. Consumer Reports, well known as an objective and unbiased source of information, has created a guidebook to selecting long term care. The handbook is designed to help readers find the right services and secure them at the lowest cost. Some of the questions they try to answer include:
- How can you take advantage of pharmaceutical company drug-assistance programs? - What essential services should a home health aide provide? - How can you calculate annual health care expenses? - How do you decipher a state survey report for a nursing home? - Where can you find adult day care? - What should you look for in an assisted-living contract?
Housing for Older People in Europe (HOPE), a network of seniors housing organizations, has issued a conference findings report on the state of seniors housing in Europe. Some of the things they noted include the fact that the population is extremely diverse, and that no one service option fits everyone's needs and expectations. Some people want to be surrounded by people in an active location, others want more solitude. Some want to be around people their own age, others do not want to be ghetto-ized. Some want ownership, others prefer to rent. They found that people wanted a place to "retire and live" rather than an "old people's home to go and die."
DaneAge survey results from 1987 and 1997 were compared, reflecting a trend away from living as cheaply as possible toward a preference for a central location along with access to "nature" and green areas. The DaneAge survey also found a desire by many people for shared accommodations, as a way to provide for needs they might have in the future if they were incapacitated.
Another theme that emerged from various questionnaires was the importance of autonomy -- having control over the little things in life. They found that older people do not want to give up their right to take risks, and do not want to be over-protected. They want to be able to control their own destinies.
Interestingly, one observation was that many people are far more concerned about getting help with practical needs like getting a roof fixed than finding care assistance, and they put a high value on features like an on-site handyman to help out. Many older people saw freedom from home maintenance as a compelling reason to move to a retirement home.
A HOPE questionnaire found that most older people expected that the government would provide financing for their care needs, and don't mind paying more taxes if they are used this way.
The report also notes that more and more large provider chains are emerging in Europe, which is changing the face of the industry. Some people who resonded to the questionnaire express concern about that trend, and a fear that these "super providers" will dominate the future, and damage the ability of non-profit providers to survive.
Housing for Older People in Europe (HOPE), a network of seniors housing organizations, has issued a conference findings report on the state of seniors housing in Europe. Some of the things they noted include the fact that the population is extremely diverse, and that no one service option fits everyone's needs and expectations. Some people want to be surrounded by people in an active location, others want more solitude. Some want to be around people their own age, others do not want to be ghetto-ized. Some want ownership, others prefer to rent. They found that people wanted a place to "retire and live" rather than an "old people's home to go and die."
The AARP has published 118-page book by Patricia Baron Pollak of Cornell University on "Liveable Communities." It provides residents, organizations, and local governments with a tool to assess a community's "liveability." Numerous studies confirm that as people age, they want to remain in their home communities. However, these same studies also show that people often find "aging in place" difficult because the available services and physical environment of the community are not able to accommodate their particular needs. Using information derived from surveys of older people's concerns about their communities, the Guide focuses on eight areas: public transportation; driving; walking; housing; shopping; and municipal features, services, and leisure facilities. The guide is designed for individuals, organizations, and public officials to use as they look at the need to develop local community services that will support the ability of older people to continue to live independently.
The AARP has published 118-page book by Patricia Baron Pollak of Cornell University on "Liveable Communities." It provides residents, organizations, and local governments with a tool to assess a community's "liveability." Numerous studies confirm that as people age, they want to remain in their home communities. However, these same studies also show that people often find "aging in place" difficult because the available services and physical environment of the community are not able to accommodate their particular needs. Using information derived from surveys of older people's concerns about their communities, the Guide focuses on eight areas: public transportation; driving; walking; housing; shopping; and municipal features, services, and leisure facilities. The guide is designed for individuals, organizations, and public officials to use as they look at the need to develop local community services that will support the ability of older people to continue to live independently.