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How Disruption and Innovation are Impacting Senior Living Providers

Just last week we discussed the role of AI in senior living and how it is helping providers offer more personalized, immediate care to residents. With the introduction of artificial intelligence, big data, and technology in general to the senior housing industry, there are numerous things we must pay attention to.

Senior living providers, for one, must stay on top of the latest trends and make sure they act fast, or get left behind. Experts believe the senior housing industry is heading towards a period of “disruptive innovation”, which is a trend that has impacted many other industries in a major way. If senior living providers aren’t careful and don’t take this period of disruption seriously, they could easily get left behind. In a nutshell, disruptive innovation refers to when an idea comes in and well, disrupts your business. In many cases this disruption seemingly comes out of thin air, making it difficult to prepare for and know how to properly deal with. Luckily for the senior housing industry, we know it’s coming.

Big Changes Coming to Senior Housing

We live in an interesting world right now, especially in regards to how technology is changing the way we think, communicate, and operate in general. Right now the majority of senior living providers understand they must either jump on board and embrace innovation, or get left behind and risk falling into obsolescence. As the dynamic and expectations among senior living residents continues to change with the next generation, providers must find new ways to meet resident needs and attract potential residents. This is a new kind of customer, if you will, that will likely not be satisfied by older operations.

Not only do senior living providers need to change the way they provide care for residents, but the terminology is also different. Today’s Baby Boomers and other older generations are much younger feeling – and looking, for that matter – and long-term care facilities must adapt. Baby Boomers will likely scoff at facilities that use the terms “aging” or “senior” in their names. This means that senior living providers also need to change their marketing tactics and learn how to position themselves as a different, more forward-thinking facility.

To put it bluntly, providers have gotten away with relying on tactics that have been around for many, many years to attract residents, but this will no longer fly. With disruption on the cusp of taking over and technology starting to play an instrumental role within the senior living industry, providers must adapt and learn how to step one step ahead of the curve.

For more information on how these trends are impacting senior living providers, please contact Shep Roylance of The JCH Group today.

 

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