The senior living landscape is currently open to the changes the pandemic may bring which will ultimately impact senior housing in the long run. There are speculations about whether senior living fundamentals will continue to evolve to meet post-pandemic needs. Senior living management speculation is going in the trajectory of becoming pandemic proof.
What is senior living?
Senior living is also known as assisted living which caters to residents who cannot function independently. These are people who need help with daily activities like bathing, dressing, eating, using the bathroom, and medication; some may require 24/7 skilled nursing. Some residents do their daily activities independently but benefit from convenience services (which relieves the burden of managing a home), senior-conducive environments, and social mingling.
What is senior housing?
Senior housing can also be regarded as retirement communities which are commonly apartments, single family homes, even condominiums, and cottage housing for senior residents. Often, senior housing has night-shift staff or live-in managers since it is flexible. Independent senior housing does not provide assistance for daily activities of residents unlike continuing care senior housing. At times, independent housing coexists with continuing care housing.
Will the pandemic change senior living fundamentals drastically?
The curt answer is “No,” ensued by a resounding “Yes.”
- Senior housing will continue to be the last resort for many people.
- Seniors still desire independence and privacy in the retirement communities.
- Affordability and economic capacity will still be decisive factors in levelled up senior living standards.
At the same time…
- Healthcare advancements, economics, and availability of senior living choices will alter the industry specifically due to COVID-19.
- Technology will be widely used in senior living sector. Seniors will become technologically enabled in the pandemic prone setting. Robots are already deployed in senior housing to assist in caretaking.
Direct Supply published an article pinpointing that despite the negative effects the pandemic on congregate senior living, it will continue to be an important option for those in their golden years.
In collaboration with eCornell, Genashtim is proud to offer the Senior Living Management program for you to learn more about senior living essentials.
eCornell courses are approved by SkillsFuture Singapore for SkillsFuture Credit as well as by HRD Corp Malaysia under its SBL-Khas Scheme.