Alzheimer’s and memory care set to grow in 2015, providers say
Alzheimer’s and memory care will be the areas of senior care that will experience the most growth in 2015, according to senior housing and services leaders responding to a new survey [PDF] conducted by Lancaster Pollard. Providers polled include those active in assisted living, Alzheimer’s disease and memory care, independent living, skilled nursing, home health, hospice and affordable housing as well as those who operate continuing care retirement communities (CCRC).
A majority of respondents (63 percent) to the company’s “2014 Seniors Housing and Care Survey” predicted growth for Alzheimer’s and memory care that will exceed growth in assisted living, home health, affordable housing, independent living, hospital or CCRCs. Forty-three percent of respondents said they have construction projects planned related to Alzheimer’s and memory care, however, compared with 45 percent who said they are planning assisted living construction projects.
Other survey highlights:
- 27 percent of respondents said it is “extremely likely” that they will change their mix of services in 2015, and an additional 23 percent said it was “somewhat likely.”
- 9 percent of organizations surveyed said they have participated in an accountable care organization (ACO) for more than a year; 12 percent said they have been participating for less than a year. Of the 78 percent who said they are not participating in an ACO, 47 percent said that no ACOs were operating in their service areas, and another 35 percent said that the ACOs in their areas have not asked post-acute care providers to join. Only one percent had requested to join an ACO but were refused or did not qualify. Seventeen percent actively chose not to participate in an ACO.
- 60 percent of respondents said that they expect their occupancy levels to increase in the coming six months, and 91 percent of them said they expect the change will be up to 10 percent.
The survey, conducted in December, included responses from 244 leaders at senior housing and care centers across the country. It also included questions related to construction and renovation projects as well as acquisition plans.
Lancaster Pollard provides capital funding and investment advisory services to senior housing providers and hospitals.
Topics: Accountable Care Organizations (ACOs) , Executive Leadership , Finance , Housing