While many senior living providers continued the long march towards a pandemic recovery, the industry saw operators innovate with new development, and familiar players in the space face new challenges in 2022.
Tackling the “quiet quitting” labor issue and reports of a Brookdale Senior Living (NYSE: BKD) sale led to the most-read top stories on Senior Housing News in the last 12 months.
Readers were also avid to learn about the newly-instated US News senior living rankings, some notable transactions, and growth of companies serving the industry.. Other stories reflected new development trends, with The Walt Disney Company (NYSE: DIS) announcing plans to enter into the active adult space with a variety of neighborhoods.
And some of our most-read stories of the year appeared on the SHN+ platform, with our deep-dive into rate increases appearing on this top 10 list. A special thanks to all the members of the SHN+ community for your support in 2022, which enables us to deliver premium-quality news and analysis.
As always, we hope you find this list informative and helpful as you take stock of the past year and plan for what lies ahead. We wish all our readers happy holidays. Thanks for reading.
1. ‘Symptom of a Larger Issue’: Senior Living Operators Grapple With Quiet Quitting
Publish date: Oct. 14, 2022
Key quote: “Quiet quitting I’m not good with. If you don’t want to be here and you don’t really want to lean into your job and make a difference — at the end of the day, despite the labor challenges, it’s hard to retain people, I am not modifying our culture.” — Discovery Senior Living CEO Richard Hutchinson.
Further reading:
Senior Living’s Talent Pool is Shrinking. These Strategies Could Help Widen It
How Silverado, Discovery and Pathway Are Meeting Senior Living’s ‘Inflection Point’
Stellar Senior Living Co-Founder: We Learned from McDonald’s To Level Up In Hiring
2. Brookdale Senior Living Reportedly Exploring Sale
Publish date: Oct. 7, 2022
Key quote: “For some investors, this may feel like deja vu.” — Stifel Analyst Tao Qiu
Further reading:
Brookdale Occupancy Hovers Near 78% as Leaders Look Ahead to Looming ‘Supercycle’
Brookdale Senior Living Poised for Occupancy, Rent Growth ‘Supercycle’ in 2023
3. US News Recognizes Nearly 1,300 Senior Living Communities in First ‘Best Senior Living’ Ratings
Publish date: May 10, 2022
Key quote: “We don’t want to pit one community against another — we want to raise all boats.” — Activated Insights CEO Dr. Jacquelyn Kung
Further reading:
What US News ‘Best Senior Living’ Initiative Could Mean for Consumers, Providers
Best Senior Living Communities 2022
Senior Lifestyle, Brookdale, LCS Top New J.D. Power Senior Living Rankings
4. What to Expect in Senior Living Rate Increases for 2023 — and How Consumers Might React
Publish date: Oct. 24, 2022
Key quote: “I hear [operators] were raising rates by 8%-10% — we went in at 6%. But, the pressures forced us to have to make the difficult decision to do another one partway through the year.” — Commonwealth Senior Living President and CEO Earl Parker
Further reading:
Anthem CEO: Expense Pressures Will Force More Big Resident Rate Increases in 2023
Highest Social Security Adjustment in Decades Likely to Aid Rent Growth in 2023
Reflecting Senior Living Industry Trend, Frontier Raising Rates 10% in 2022
5. Disney to Develop Communities With Senior Housing Neighborhoods
Publish date: Feb. 22, 2022
Key quote: “As we prepare to enter our second century, we are developing new and exciting ways to bring the magic of Disney to people wherever they are, expanding storytelling to storyliving.” — Disney Parks Experiences and Products Chairman Josh D’Amaro
Further reading:
Disney to Develop Communities With Senior Housing Neighborhoods
‘We Had to Innovate’: Senior Living Operators Warm Up to Workforce Housing
6. Five Star Senior Living Rebrands as AlerisLife, Marking Expansion of Lifestyle Services
Publish date: Jan. 26, 2022
Key quote: “As we’ve announced our strategy around building this platform and … maybe acquiring services, growing services or partnering with people to deliver other services, we needed an umbrella brand that brought it all together.” — Former AlerisLife CEO Katie Potter who exited in May
Further reading:
Five Star Targets Concierge Offerings, Younger Residents in Ongoing Business Transformation
Diversified Healthcare Trust to Transition 108 Communities From Five Star to Other Operators
7. Cogir, Cadence Combine to Form 60-Community Senior Living Operator
Publish date: Nov. 1, 2022
Key quote: “This is a merger where we can put two and two together and we believe we can get five out of it. Together we’re stronger than we were individually.” — Cogir CEO David Eskenazy
Further reading:
Welltower Deepens Ties to Oakmont, Cogir, Treplus in Deals Totaling More Than $700 Million
8. A Place for Mom CEO: We Are Halfway Through Our Reinvention, $175M Raise Will Fuel the Effort
Publish date: April 11, 2022
Key quote: “I think we’ve made progress for them to understand who we are, what we’re about, and that we’re on the side of being their true partner to make revenue together and satisfy families together. Three years in, I think we’ve made progress, but we’re nowhere near the finish line.” — A Place for Mom CEO Larry Kutscher
Further reading:
A Place for Mom Raises $175M in Growth Equity to Aid ‘Transformation’
A New Senior Living Operating Model Comes Into View After 2 Years of Disruption
9. ‘Push the Envelope’: Architects Rethink Senior Living Design for the Boomers
Publish date: Oct. 6, 2022
Key quote: “It’s up to us to continue to push the envelope of how we create that product line that is really going to address the masses. It needs to be woven into everything that we’re creating for the boomer population, no matter if it’s affordable to luxury.” — Perkins Eastman Principal Joe Hassel
Further reading:
Atria, Related Unveil Coterie Brand for Urban Luxury Senior Living Developments
‘Way of the Future’: Senior Living Operators Envision Next Generation of Niche Communities
10. With $44M Raised, Pine Park Health To Expand Senior Living-Focused Primary Care Model
Publish date: Jan. 24, 2022
Key quote: “I think our job is to really build this and accept as many residents as possible and optimize to serve the senior living environment. And then on the back end, of course, my team has the job of setting up the value-based relationships with as many health plans as possible so that we can make the numbers work.” — Pine Park Chief Commercial Officer Dan O’Neill
Further reading:
Welltower, CareMore Initiative Drives Senior Living Integration with Medicare Advantage
Westmont Living President Bullish on Development, Adding Primary Care to Communities
Pine Park Health Expands Value-Based Care Model, With Affordable Housing a Target
The post 10 Most-Read Senior Housing News Stories of 2022 appeared first on Senior Housing News.
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