Competing on value — and high quality

Competing on value — and high quality


A new report from the American Seniors Housing Affiliation means that for a lot of older adults, senior residing really might be cheaper than receiving care at house.

The examine, “The Stunning Value of Staying in a Home,” highlights how rising prices — house costs up 22%, meals up 31% and residential healthcare skyrocketing by 75% — have made senior residing choices extra financially engaging. 

The temporary was ready by business analyst Daniel M. Bernstein, CFA. His evaluation reveals that the affordability of senior residing has improved by greater than 20% up to now few years.

It’s affordable to query whether or not a report from the senior residing sector could be seen as considerably self-serving, nonetheless. And though the financial argument is compelling, it’s unlikely to persuade prospects to go away their properties merely primarily based on value alone.

Why? As a result of most individuals would like to remain put. Relocating from a spot the place they’ve constructed many years of recollections isn’t only a monetary choice — it’s deeply emotional.

Furthermore, transitioning to a senior residing neighborhood entails extra than simply monetary concerns. The method could be a logistical problem, requiring households to analysis communities, schedule visits and handle intensive paperwork. In distinction, staying at house is easier — there’s no must pack, promote a home (which can be appreciating in worth) or endure relocation stress.

One productive approach to shift the dialog is by emphasizing the function of social connections in combating loneliness. Many communities are beginning to deal with this facet, showcasing how senior residing environments foster significant interactions and a way of belonging. Though this method won’t instantly seal the deal, it could possibly immediate potential residents and their households to view senior residing as a extra holistic alternative.

Favorable prices could present a strong basis for dialogue. However to really resonate with these contemplating the transition, senior residing communities should exhibit their dedication to enhancing high quality of life by connection, neighborhood and well-being.

John O’Connor is editorial director for McKnight’s Senior Dwelling and its sister media manufacturers, McKnight’s Lengthy-Time period Care Information, which focuses on expert nursing, and McKnight’s Residence Care. Learn extra of his columns right here.

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