Investing in technology and tapping data and analytics is a key strategy that senior living organizations should pursue over the next one to two years, said senior housing leaders in a recent study. Technology is one of six opportunities the pandemic has opened up, found Strategic Trends in Seniors Housing. To make sure that you are making wise investments to move your organization forward, attend two sessions at the LeadingAge Annual Meeting + EXPO that discuss technology innovation and data analytics in depth.

Interviewees’ Insights

Ferguson Partners, a global talent management boutique, interviewed 13 leaders for this study. The study sought to identify issues that would affect senior housing in the near future and to learn how the industry is responding.

The interviewees represented 13 organizations within the seniors housing sector, including real estate investment trusts, private owners, operators, and developers, real estate private equity firms, and industry trade associations.

Interviewees named staffing and workforce as key challenges, and they discussed the potential of technology to create efficiencies and enable staff to spend more time with residents. They also expressed the difficulties of affording new technologies, especially back-end technologies, after a pandemic year.

Yet even in the pandemic, many organizations invested in both resident/family-facing and public health technologies, said the report. These solutions include touchless technologies; digital medicine; social connectedness and engagement technologies that furthered remote connections with family, friends, and caregivers; and digital marketing. The leaders noted that tech capabilities are becoming a key question in new-resident interviews.

Harnessing the Power of Data and Analytics

The interviewees also pointed to the importance of using data and analytics to make decisions that could improve efficiencies. They mentioned that the senior housing industry is behind other industries, with most analytics and performance measures in senior living currently focusing on real estate.

“We have probably 10% of what we need [with regard to data and analytics] right now in the industry,” said a quote from one leader.

The move toward value-based care and wellness outcomes may drive metrics in health-related areas in the future, the report noted.

The other areas of opportunity that leaders identified are as follows:

• Focusing on strategic planning and execution.
• Addressing workforce challenges, from the senior-most levels to those at the community level.
• Aligning incentives between capital providers and operators.
• Focusing on the further integration of hospitality and health care.
• Investing in industry advocacy and education.

Read the full report.

CAST Sessions Give You In-Depth How-To Information

Be sure to catch “Accelerating Technology Innovation after COVID” and “Advanced Data Analytics: A Guide for Providers,” and “Technologies We Need Now More Than Ever,” three sessions at the LeadingAge Annual Meeting + EXPO, for a deep dive on the best technology investments and data analytics approaches. Register today!

1-A. Accelerating Technology Innovation after COVID

Sunday, Oct. 24, 2021

3 p.m.

Explore research on technology adoption and spending from a multisite aging services organization, a hospice provider, and leading experts. Hear their insights into the potential role telehealth, artificial intelligence, resident engagement solutions, and workforce technologies can play in transforming future models of care and ways of doing business.

Speakers:

• Kent Anderson, CEO/President, FACHE, Ohio’s Hospice
• Laurence Gumina, CEO, Ohio Living
• Scott Collins, CEO, Link-age
• Thomas Meyers, Managing Director, Ziegler

2-A. Advanced Data Analytics: A Guide for Providers

Sunday, Oct. 24, 2021

4:30 p.m.

Attend this session to learn more about the data analytics field and sift through commercially available solutions. Hear real-life case studies of providers that implemented data analytics in their organizations. Using the right data analytics tools and capabilities, some of which may already be embedded in your existing technology systems, can help provide you with important insights and prevent you from falling behind.

Speakers:

Majd Alwan, SVP of Technology and Business Strategy/Executive Director, CAST, LeadingAge

Scott Code, Senior Director, CAST, LeadingAge

4-C. Technologies We Need Now More Than Ever

Monday, Oct. 25, 2021

8 a.m.

Three tech experts and a provider will explore how they leveraged telehealth, resident/family engagement software, and enterprise-wide business intelligence applications to fight COVID, and the role these vital technologies could play in a post-COVID world. You’ll learn how telehealth can promote better preventative health, how a resident/family engagement solution can help you create a connected care community, and how you can make key decisions using the data you generate each day.

Speakers:

• Josh King, VP of Information Technology, Lutheran Senior Services
• Keith Stewart, Chief Growth Officer, K4Connect
• Lyle Berkowitz, Chief Medical Officer, QliqSOFT
• Steven VanderVelde, Senior Living Enterprise Architect, PMP, ProviNET Solutions

Visit the Sessions page and choose the Aging Services Technologies Track to learn about more sessions you won’t want to miss. The full meeting takes place Oct. 24-27, 2021, in Atlanta. Register today!