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- Jun 23, 2023 AgingHere: Revolutionizing Senior Living: Small Homes, Big Impact
Jun 23, 2023 AgingHere: Revolutionizing Senior Living: Small Homes, Big Impact
Aging Here
June 23, 2023
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Revolutionizing Senior Living: Small Homes, Big Impact
In this week’s email:
Today’s Insight from AgingHere
Small Home Senior Living Revolutionizes Market
Rising Senior Living Occupancy Triumphs
Assisted Living on a Smaller, More Personal Scale
Surprising fun fact: Assisted living is only 2 percent of senior living
Today’s AgingHere Survey
AgingHere Referral Program
Today’s Sponsor: Mastering Medicare Podcast (MasteringMedicare.net)
AgingHere Insight: Small group home assisted livings… Just another type of Aging-in-Place?
Even the best intentions cannot always allow for someone to age-in-place. Sometimes, a move is necessary. Knowing the menu of options is a critical part of decision making. But what about a small group home setting as an alternative? The large assisted living facilities are hard to miss but what about the smaller facilities or those in neighborhood homes. Those with dementia or other types of frailty may find the smaller home setting to be more to their liking. In what is often a very confusing time for families and seniors sometimes a move to a home setting as opposed to a larger assisted living can be almost like aging-in-place
The small-house senior living trend is growing, driven by changing consumer expectations, easier financing, and adaptability to urban settings. Franchise models are facilitating growth, as companies like BrightStar Care and Majestic Residences expand their networks. These small home communities offer benefits such as better infection control, labor advantages, and enhanced resident wellness through neighborhood-style setups and green spaces. Vertical development in urban areas is also emerging. read more.
Senior living occupancy surpassed 83% in Q1 2023, marking the seventh consecutive quarter of growth. Assisted living occupancy rose, while independent living remained stable. Limited construction and strong demand contribute to industry optimism, with total occupied units reaching an all-time high. read more.
Group homes provide an affordable and more personalized alternative to traditional large-scale assisted living facilities for older adults who can't age in place. They offer essential care services and a higher staff-to-client ratio in a homely setting, accommodating typically five to ten people. While these homes may lack some amenities found in larger communities and might not suit everyone's needs, they offer a valuable option for residential care with costs generally lower than conventional assisted living or nursing homes. read more.
Over 810,000 people reside in assisted living facilities, costing an average of $4,300 per month. The population of adults over 85 will double by 2036 and triple by 2049. 7 out of 10 people require assisted living care in their lifetime. The U.S. will need nearly 1 million new senior living units by 2040. Assisted living is more affordable than other senior care options, but it still carries a significant expense. Common conditions among assisted living residents include high blood pressure, arthritis, and heart disease. Memory impairments are prevalent, with 71% of residents affected. The majority of residents are women, and the average age is 84. The assisted living industry is expected to accommodate the growing aging population, with an estimated 986,000 new assisted living units required. This growth is driven by the aging baby boomer generation. read more.
AgingHere Referral Program
Today’s Sponsor: Mastering Medicare (MasteringMedicare.net)
Listen to Mastering Medicare Podcast Episode 22: Interview with Dr. Marc Gruner from Limber about Remote Therapeutic Monitoring
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