- Baby boomers are today’s hot market.
- And boomers want things their way.
- Selling healthcare finally gets fun.
- Women today.
- Your strategy: who gets it?
- Disrupting death and road trip to heaven.
Senior, Baby Boomer market on Fire
“The VC community has finally woken up to the fact that, next to Millennials, this is the largest market in the world and it’s grossly underserved.” Merc
Baby Boomers Disrupt Senior Living
Baby boomers are changing how residential condominium & rental communities in 4 ways:
- Boomers view themselves as investors, not tenants. They want a voice in how the “campus” is governed, and access to the board of directors.
- Wellness and security for the whole person is important. Boomers view physical fitness and physical security as must-haves, not “nice options,” in senior living.
- Purpose and fulfillment for senior boomers extends deep into senior living: planning their own activities calendar, creating volunteer opportunities, and finding pursuits that are unique and meaningful. A full activities calendar will not satisfy Baby Boomers in senior living. Many boomers don’t even want an activities director — they want to direct the activities.
- Boomers want to live where everyone is accepted and included, not ostracized because they are frail, are gay, or need a walker. MSL
Elder Kale for Baby Boomers
The Baby Boomer generation wants their dining experiences to follow them into senior living. Sedexo operates “Bistro 464” in senior living communities, with menus and food provided by its “Mindful” subsidiary.
Food matters. Resident satisfaction increased +25% in Independent Living and +15% in Health Care at one site that installed “Bistro 464.” link
Seniorly fills empty rooms at senior housing
Seniorly handles short-term vacancies, a great solution when the family caregiver goes on vacation. Seniorly increases housing utilization, revenue and census numbers (# of customers). Family members book and pay online, in advance. Seniorly customers get transportation through Lyft Concierge. SHN
Keep building senior living units
The good news for senior living: residences is that the “annual absorption rate” was 2.5% in Q3 2016.
The bad news is that occupancy is still at 89.8%, same as it’s been for 3 years.
If 10% of your rooms are empty, that’s not good. On the surface, it seems the oversupply continues.
However if new supply is being absorbed quickly, yet industry vacancy is high, it could mean that older residences are struggling. SHN
Elder care at Wal-Mart
Honor opened a “real life” store inside 2 Wal-Mart stores in Texas.
Like online retailers who open bricks-and-mortar stores, Honor is an on-line service that sees the benefit of being visible, where their customers shop. F.W.B.
Japan will open home-care to foreign workers
Today, workers from Indonesia, Phillipines, and Vietnam work in Japan’s nursing homes. The government will *consider* allowing them to work in private homes in 20the homes in 2017. Japan will require these workers to undergo training, at their own expense, in Japanese culture, elder lifestyles and responding to medical emergencies. J.T.
Migrant workers in Japan’s training programs are sometimes enslaved, VICE.
Boom in non-medical care
When we talk about the home care industry, we’re usually talking about non-medical helpers. Turnover is high, but not much training is required to come into the field.
Qualified nurses, who can administer medications, injections, care for wounds and catheters, and monitor vital signs — these are in short supply. McK
This week saw widespread media coverage of an essay published by Robin William’s widow, Susan Schneider Williams. Lewy Body dementia was all over the news. Neurology
He kept saying, “I just want to reboot my brain.”
After much testing, “verything came back negative, except for high cortisol levels. We wanted to be happy about all the negative test results, but Robin and I both had a deep sense that something was terribly wrong.”[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]
Lighten up the message
T.V. doctors from popular shows are in a commercial to sell annual checkups for Cigna. FH
Fall prevention vs. actually falling
Do your employees “get it?”
Our advice to leaders in communicating their vision starts simple: keep communicating. You must communicate it until you are tired of hearing it, because only then are employees starting to “hear it.” This week, Loren Shook, CEO of Silverado, mirroed our advice:
“Share your story… keep repeating your vision to your staff when you’re tired of saying it. People need to hear it over and over. You think you’re boring them, but they need to hear it.” SHN
Strategic planning, non-profit v. for-profit
“We need a strategic plan that is clear and focused. We can perhaps do anything, but we can’t do everything. If there’s something I would say not-for-profits are guilty of in a way that for-profits aren’t, it’s lack of focus. We see a need and we fill it. So we’re constantly grabbing at opportunities, and it all comes from a good place. “
The problem with that is, you end up being good at a lot of things and great at none of them. What we’re looking to do is say, “You know what, there are endless opportunities out there to help people age well. While they are all exciting, the question is how do we narrow our choices to say ‘We’re going to do this, and we’re going to do it really, really well?’”
J. Cochrane, CEO, of be.group and Cornerstone Affiliates. SHN[/vc_column_text][vc_column_text]
Using data to tell your story
To differentiate your service, make a bold distinction between your approach and the “other.”
Here, the contrast is between “just adding more in-home care” for everyone, which did not work, to only adding it to patients prescreened by certain risk metrics.
A key to telling your story is sharing the data. HHCN
What can you give to prospects?
How about a free in-home evaluation? Already free, you say? But do you PROMOTE it as free? “Get your free…” DG
Rainy day funds
Savings accounts are where people stash their backup, emergency, rainy-day money. So the story circulating last week that “millennials are better savers” was very misleading, because it did *not* include retirement funds or college funds or stock/investment accounts. Still, this is interesting:
- Older Millennials — age 25 to 34 — are better at building emergency “rainy day” funds than older GenXers — age 45 to 54. GenXers have more demands on their budgets and prioritize retirement and college funds. Mic
69% of US have less than $1,000 in their savings account.
Can all Millennials ask parents for money?
What if you had an unexpected expense of $1,000 that you couldn’t pay yourself?
- 2/3 of young white people in the United States say they could turn to their family
- 1/2 of young hispanics could turn to their family
- and < 1/2 (42%) of young African Americans could turn to their family, and some would be reluctant to even ask
The ability to take advantage of generational wealth is important in “getting ahead” financially. WSJ
Chemo? or road trip?
The woman who said NO to chemotherapy, and instead said YES to a roadtrip, has died at age 91, and inspired thousands. ABC.
At peace, with love
We highlight three voices in the compassionate movement to improve the Western approach to death:
- The first radio show to explore living and dying is described as “Dr. Ruth meets Car Talk,” now airing on San Francisco’s KALW 91.7. By Matt Perry, in California Health Report. CHR
- A photographer sets out to interview people who are at peace , with his show “Right, Before I Die.” By Anna Gorman, in Kaiser Health News. KHN
- A death doula writes love letters to the dying. By Dr. Andrea Deerhear, who creates integrated care plans to strengthen bodies and hearts. Visit “The Heart Way. Link
When I’m 128 (64 x 2)
Human life expectancy has increased in the past century, however it’s been thought that humans’ maximum life span was topped out at 122 years. That’s the oldest recorded age, for Jeanne Calment, pictured below.
Now, some scientists believe that the maximum is not fixed, that we can change it with “genetic and pharmaceutical intervention.” Other scientists believe that is ridiculous, and that the chance of anyone reading this living past 115 is “virtually Nil.” Nature, NYT.
Women are different. GenX and Millennial women are really different.
- Today, women earn more degrees than men, from bachelor’s to masters’ to doctoral degrees. More female voters are unmarried than married, and 4 in 10 of these marriages are inter-faith.
- The mommy wars are officially over. 2/3 of moms of newborns are working, as more husbands stay home with children. WSJ
- A small bug growing trend: more women have their first baby after age 35. Doctors used to call these “geriatric pregnancies.” Last year, women age 35 to 44 had 638,000+ babies in the United States.
“Religious” is now “Spiritual”
- Baby boomers religion is to “experience of their selves as sacred,” not accepting ancient texts, gender superiority, or institutions.
- Young Americans today don’t have teachers or pastors to shape their belief. They think of religions as a solo quest for an authentic self.
- 35% of Millennials have no formal religious affiliation. They are called “nones.” Their religion is “what is right for me may not be right for you but no one has the right to judge anyone else.”
- 50% of Millennials say they are absolutely certain they believe in God.
- Read the new book: Getting Religion: Faith, Culture, and Politics from the Age of Eisenhower to the Era of Obama