Insider Newsletter

June 6, 2024

Innovative Solutions Shared at the NIC Data & Analytics Conference

Hundreds of senior housing and care stakeholders convened in Minneapolis at our recent Data & Analytics Conference to gain and share the latest data uses and insights that can help move the industry, and their businesses, forward. Sessions at the 2024 NIC Data & Analytics Conference were filled with expert insights from within and outside the sector on topics critical in today’s changing environment, including examples for how to increase productivity using AI – including where to start, how to ease technology adoption in your business, how companies outside of senior housing and care have used analytics to power their business models and drive customization of the staff and client experience, and more. Read highlights from the conference here.

Decelerated Rate Growth, High Discounts, and Strong Move-Ins in Senior Housing

The pace of growth in initial rates decelerated for all care segments (independent living, assisted living, and memory care) in the first quarter, indicating a trend toward alignment with inflation. Discounts remained highest in the independent living segment, and the pace of move-ins remained strong. See more takeaways from the recently released 1Q 2024 NIC MAP Vision Actual Rates Report here.

Adapting to Changing Consumer Preferences: A Boomer's Perspective in Senior Living

In the ever-evolving landscape of senior living, one thing remains constant: the need to adapt to changing consumer preferences. With the next generation entering retirement age, senior living operators are faced with the challenge of meeting the diverse and evolving needs and desires of this dynamic demographic. Click here to read about key elements that operators need to deploy to stay on top of these changing needs and preferences.

 

Matthew Ruark, Head of Commercial and Healthcare Production, KeyBank, Tackles Industry Challenges as NIC Middle Market Committee Chair

Focus Area Committees supporting NIC’s Strategic Plan objective to ‘expand the tent’ across five key focus areas were recently formed. The Middle Market Committee is led by Chair Matthew Ruark of Keybank. See Ruark’s vision for this important group of NIC volunteers and what the Committee aims to accomplish this year, here.

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