Starting the New Year off right for the Senior Industry

Attended Buddy Lieberman's (he of "The Buddy Group" networking meetings)-- 3rd Round Table luncheon on the state of our senior industry.

If you missed it, don't panic. As a writer, I took good notes!

Both speakers were from "big players", and both were operations Veeps. What they said was very enlightening--yet I don't think they can relate to the small RCFE's or in home cares--they come from the big corporations.

Never the less, here's what they said:

This will be the year of large acquisitions by the big players. Facility groundbreaking and building of new facilities is pretty much halted due to lack of resources and the economy. However, since it's cheaper to take over properties and insert new management, that's what most of the big boys will do. This is what they called regional buying.

This bodes well for you, the small RCFE's. Your comeback to this thought process should be to explain to the families and the potential residents that you are not changing management or your style. You will be the same, loving caring facility and staff you've always been. And if the client wants personalized service, you are there to provide it--unlike some big corporations.

According to the Veeps, there is still an unmet demand for residents. Either they meant the censuses are down, or residents are not getting what they ask for--that their demands are not being met. (Not sure which, but I suspect the latter).

Residents are staying home longer before they make a decision to move. While it used to take 2-3 months to move, it's now taking 8-12 months.

What does this mean for RCFEs? That you need an extensive marketing campaign that allows you to put people on a waiting list, then cooperate with other B and Cs around you to find people their homes. And don't wait until you have a death, move out to hospice, or some other reason to start to market.

THE TIME TO MARKET IS CONTINUALLY, AT LEAST FOR 4 HOURS PER WEEK!

Finally, they talked about more mental health issues among the senior population. It seems that most of the big boys are moving towards adding more dementia wings in their facilities. So if you, as an RCFE B and C do not deal with dementia--you'd better.

In a nutshell, the gist of the forum was about that, and how people now know what options there are--they're more demanding re: private pay, and what they get for their money.

AND, seniors themselves are taking to the internet as never before, to find information for themselves and other seniors about the choices they will have to make. So last question for this month:

Do you have the following:

• Web site (With interaction, not static)
• Blog
• Facebook Page
• Linked In account
• Twitter account

Are you on all 36 national and local websites that offer FREE uploads and information for you to list your facility?

IF NOT, WHY NOT? CALL US, WE CAN DO THIS FOR YOU!