Economic Pressures, Technology Complicate Industry Outlook, Says Power Panel of Experts

The senior living industry is facing both headwinds and tailwinds – demand is strong but expenses like wages continue to rise, property values are depressed but technology innovations could boost revenues. Operators need to evolve to maintain profitability, with potential solutions including getting reimbursements for services, pursuing added revenue streams, and quantifying their ability to reduce healthcare costs. Overall the industry sees positive long-term prospects but faces near-term challenges to stabilize expenses and margins after the pandemic’s impact.

Learn more and read the full article here.