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Prospects of Senior Living Communities in USA 2023

Prospects of Senior Living Communities in USA 2023

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The Covid-19 pandemic has shaped the face of communication and lifestyle habits of everyone worldwide, particularly in the US. But unfortunately, some of the top senior living communities have been hit by the lingering effects of the pandemic.

And with the baby boomer generation growing evermore, senior communities with assisted living, memory care, and over facilities that help provide the living with daily assistance would have to evolve with the times and improve the sector for a better future.

But this will help the ultimate question overall, the administrative staff, the caregiver, and the baby boomers. BoomersHub is here to show you how big the prospects of senior living communities in the USA really are.

About the baby boomers

As the baby boomers age, the US faces an unprecedented demographic shift: The Grey Tsunami. A grey tsunami, known as a ‘Silver Tsunami,’ describes the aging population. This trend is expected to accelerate in 2030, when all baby boomers will be 65 and older. With around 73 million people falling into this demographic, senior living communities need to create a life-enriching lifestyle appealing to this generation.

Today’s seniors want more than a vapid “old folks home”: they seek active living with innovative facilities. This can be tied to the digital age’s new wave of communication and visual representation. To capture the interest of modern seniors, these communities must reflect their values of choice, community involvement, and wellness and offer technology use and training opportunities.

Evolution of small-home senior living communities

The prospects of small home units in senior living communities could rise from 2023. The tiny home in the senior living industry includes everything from a single-site residential property to a high-rise building with small-home wings on multiple levels.

Small home senior housing communities differ significantly from traditional independent and assisted living facilities. Most notably, these communities have a much smaller scale. For instance, while standard senior living complexes can range between several dozen to hundreds of units, tiny home communities typically have much lesser units.

The pandemic has made the future more uncertain, and how senior living looks in the coming years remains to be seen. However, experts predict small-home communities may begin to tap into multigenerational models and mixed-use settings as now typical in real estate projects, including age-appropriate play areas for younger children and technology services for teenagers.

This is a small segment of what could be offered in the coming years as providers will likely invest further in smart technology. Small homes also remain a viable option for sustainable building practices. So despite the challenges posed by this global health crisis, we can look forward to positive developments within the senior living industry.

Introduction of smart home devices

New, innovative tech can help senior living residents and staff members to a great degree. By implementing technology, the senior living sector can moderate operational costs, optimize staff members, improve health observation and ensure security. Smart devices will also permit seniors to be more in control of their independent living status and more associated with assisted living.

A good example is how seniors can set reminders using Google Home devices or Amazon Echo (Alexa) for their appointments and medication times. Such devices can also play music or help communicate with their families. Furthermore, specialized smart devices like LifePod use 2-way voice services that can be useful as an alert system to develop communication between seniors and caregivers.

For a better detail of future technology in senior living and how it is set to transform the industry as a whole, read here.

Technology to help senior living community staff

The senior living industry is challenged by a high turnover rate for home health and personal care aides, which averages approximately 50%. This leads to the expense of recruiting, onboarding, and training new employees, not to mention further fatigue, burnout, and lower performance of existing employees. Ultimately, this can reflect higher consumer costs and make affordable living an unrealistic goal for senior providers. Adopting more innovative technologies can help automate low-level tasks and create more attractive career opportunities that could lead to better retention rates and break the cycle of costly turnover. This, in turn, will lead to a smoother transition of operations.

Senior living providers can maximize their resources and stay up-to-date with the latest technological advancements and trends by investing in digital tech innovations like CarePredict’s remote monitoring tools. These solutions simplify crucial, timely information about subtle activity changes, accurate indoor location data, and two-way audio communication capabilities.

Through this, these assisted living communities in the senior living sector can achieve operational optimization while offering exceptional patient care. Smart devices also pave the way for cost reductions caused by labor dependencies. This allows for a better allocation of human resources within the communities, as to they can provide better administration, so the caregivers do not have to multitask.

Final thoughts

As the next few years will be a crucial time for the world, particularly the US, every sector must adapt to meet the requirements of the old and current generations. Likewise, 2023 and beyond will be crucial for the senior living community. Yet with the outlook of prospective technological advances and small home senior communities on the rise, baby boomers may see some of the best senior care in the years to come.

If you are interested in how the future of Generation Z and Millennials will look, especially how they will live out their life in senior living communities, then read this article.

FAQs

What state is best for senior living?

California is considered one of the best states for retirement in 2022. Due to the climate, seniors prefer such areas for senior living. Georgia, Ohio, Michigan, and Missouri are also good states for senior living as Georgia is one of the most affordable locations for senior care in the US.

What does the future of senior living look like?

The foreseeable future will be a struggle, as the industry has to adapt to new infrastructure to improve senior living facilities. However, in the long term, the future of senior living is highly prospective. More and more innovative tech will benefit both residents and staff, make for better operations, and allow seniors greater control of independent living.

What are the benefits of living in a senior community?

Residents in senior living communities benefit from multiple facilities without creating the bubble that they are living in a nursing home—starting from a well-organized community of 55+ adults to activities for everyone, including residents with mental health issues. But the main benefit is the ADL support they receive.

When should a senior move?

Most independent and assisted living communities to require seniors to be 65 years old. However, there are senior living facilities that have 55+ in contrast. When a senior or older adult feels they need a change of environment and require support or assistance with activities of daily living, that is when they decide on senior care.

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