{"data":{"id":"b264ebf4-483a-46b4-b3a1-a61d427beff4","updated_at":"2024-04-04T21:07:53Z","template_id":"73046548-86ec-431a-aca0-75b53bc936f3","localized":{"blocks":[{"id":"54b735af-a2e7-45d9-bf60-c5553fac01da","kind":"richtext","template_id":null,"content_html":"

Some changes were already underway within the senior living industry and many more have been added as a direct result of the pandemic. In this Learning Bites episode, Matt Del Vecchio, owner of Lianas Services Retirement Home Search and Transition Support, joins us to discuss some of the trends currently underway.

Here is our discussion;

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These are some of the highlights of our conversation;

What is senior living / senior housing?

There are three categories within the senior living housing industry. They are;
- Independent living
- Assisted living
- Long Term Care
During the pandemic, the independent living and assisted living managed quite well during this time. Where there were major problems and significant deaths was in the long term care sector

Emerging Trends

As a result of the experience of the pandemic, infection control within all the senior housing facilities has substantially improved. PPE, visitation policies, infection control procedures have all improved. For example, the flu season was almost non existent this year due to the improved infection control measures
In long term care, the level of care is improving but we still have a long way to go. The staff to resident ratios are slowly increasing as a result of increased focus and investments
- Interesting to note that COVID was not the cause of these issues. In fact COVID was the trigger to identify to the general public that in long term case we have many exposures and a great deal of work to do

Increasing Demand Due to an Aging Population

There will be a supply / demand gap as the population ages however independent living and assisted living are primarily private industry based and they are building residences and growing their inventory
However long term care is primarily government funded and will require a great deal of investment and money and as the population needs grow we will need a great deal more long term care and home care support. This will likely be more challenging

Use of Technology

Virtual meetings with family members, loved ones has increased substantially due to COVID. As well, smart speakers (ie Alexa) has also increased.
Anticipate that as time goes on and the acceptance of technologies by those who will need these services in the future this will only increase

The Opportunities and Risks

Baby boomers are aging and are also trend setters. They are also not going to accept the status quo. As a result, they will push the boundaries of what they want and will accept from the senior living industry
Over the next twenty years there will be an increase of 50% of those individuals 65 years of age and over. This is an incredible wave of people aging that will likely require some care at some point. If we are relying on government to provide this support, there is some risk as the amount of money and resources is going to be substantial
Baby boomers are starting to advocate for better care and this will need to continue in order to ensure that the changes that are needed are done

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Susan Williams is the visionary founder of Booming Encore. With over 28 years of experience in corporate senior leadership and executive roles, she realized there was a significant gap in resources for those seeking a purposeful and healthy later life. Driven by her passion to make a difference, she decided that if she couldn't find it, she would create it and launched Booming Encore in 2013.

Since then, the Booming Encore has organically grown into a globally recognized authority on retirement, aging, and longevity. Susan’s commitment to empowering individuals is further reflected in her co-authorship of Retirement Heaven or Hell: Which Will You Choose? and her contributions to Longevity Lifestyle by Design.

An engaging speaker and advocate, Susan passionately shares the importance of all the aspects that can help people positively live, embrace and contribute in their later years. Today, she’s not just helping others create their own “booming encore”—she is actually living hers. Join her on this inspiring journey and also live your best booming encore!

","description_text":"Susan Williams is the visionary founder of Booming Encore. With over 28 years of experience in corporate senior leadership and executive roles, she realized there was a significant gap in resources for those seeking a purposeful and healthy later life. Driven by her passion to make a difference, she decided that if she couldn't find it, she would create it and launched Booming Encore in 2013.Since then, the Booming Encore has organically grown into a globally recognized authority on retirement, aging, and longevity. Susan’s commitment to empowering individuals is further reflected in her co-authorship of Retirement Heaven or Hell: Which Will You Choose? and her contributions to Longevity Lifestyle by Design.An engaging speaker and advocate, Susan passionately shares the importance of all the aspects that can help people positively live, embrace and contribute in their later years. Today, she’s not just helping others create their own “booming encore”—she is actually living hers. Join her on this inspiring journey and also live your best booming encore!","summary_html":"

Founder, Booming Encore

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