Since last January, when the first wave of baby boomers turned 65, senior living and long-term care developers have been inundated with tantalizing reports predicting an unprecedented demand for healthcare and living options for the 10,000 people a day joining the senior ranks for the next 20 years. This includes a forecasted demand for memory care services, as the number of people afflicted with Alzheimer’s disease and other dementias escalates.
So it only makes sense that seasoned LTC developers—and a growing number of opportunists from outside the industry—would be eager to learn the latest business models, demographic and behavioral considerations for managing dementia, as well as explore opportunities to expand or add memory care to their communities.
Last Sunday, executives gathered at an ASHA (American Seniors Housing Association) pre-conference executive workshop on the business and future of memory care, presented by The Erickson School, in conjunction with Long-Term Living. The panel of presenters included Dr. Peter Rabins, author of "The 36-hour Day" and a dementia expert from Johns Hopkins; Loren Shook, president, CEO and Chairman of the Board, Silverado Senior Living; Dr. Margaret Calkins, an expert in the field of environments for aging; and Robert Kramer, founder and president of the National Investment Center for the Seniors Housing and Care Industry (NIC).
|From left to right: Calkins, Shook, Kramer, Rabins and Kevin Heffner of the Erickson School.|
The statistics are sobering: Two-thirds to three-quarters of residents in long-term care will have some form of dementia, reported Rabins. “Improved quality of life is the reachable goal of care at all stages of dementia,” said Rabins. “People with dementia will live longer and longer; facilities and programs must be designed knowing their needs will change.”
A major challenge for the industry is integrating those with dementia with the cognitively healthy. Or, should they be segregated? Or perhaps consider a hybrid approach? Speakers and attendees considered the pros and cons of each option as they also debated the benefits and feasibility of the small-home model for care. Calkins is a proponent of the smaller scale household model. “You can’t successfully care for 60 people,” she argued, although she later conceded there is “no one right way to do anything; some do better in a smaller space while others do well in a larger group.”