Earlier this week, my entire world was disrupted. I flew to Pittsburgh for the Facing Disruption, Forging Direction conference, hosted by the Presbyterian Association of Homes and Services for the Aging (PAHSA). I participated in discussions about the major disruptors facing our field and came away viewing disruption as a positive force to be embraced. As I look back on the event, I can identify five major disruptions — and new directions that can transform them into opportunities. I wanted to share them with all of you who may not have been able to attend the conference.
1. Disruption: tighter margins, leaner budgets
Many communities and systems are considering strategies to combat the changing needs of the mature market and increasing competition. This is evident in how communities are repositioning, contract types are changing and affiliations are continuing to develop.
Direction: Collaboration can boost financial strength. At the conference, Presbyterian Senior Living and Westminster Communities of Florida announced their intention to affiliate. Together, they will be the fifth-largest senior living organization in the country.
2. Disruption: a rapidly growing middle market
Forty-five percent of Boomers have no savings toward retirement, which means that most will not be able to afford the typical senior living community.*
Direction: HumanGood is taking what it’s learned through its affordable housing communities to provide an innovative service to the middle market. We learned about how the brand developed Plaza Roberto Maestas in Seattle, incorporating street art that reflects the local neighborhood; a day care center for neighborhood children; local retail on the first level; and a plaza in the center of the complex that draws a variety of food trucks each day, attracting visitors from the greater community.
3. Disruption: a skyrocketing incidence of dementia
Caregivers already provide 18.5 billion hours of care per year at a cost of $234 billion, and the number of people with Alzheimer’s will more than double by 2050.**
Direction: Presbyterian SeniorCare in the Pittsburgh market has launched its Dementia360 program, which in the words of the organization “pioneers partnerships and collaborations.” The organization has developed a Dementia Care Center of Excellence, with educational programs, residential services, research and population health initiatives. This, along with its comprehensive care management expertise, provided the resources necessary to launch Dementia360, which is a series of tools to support both the caregiver and the person living with dementia.
4. Disruption: a dearth of qualified staff in senior living
The number of 16–24-year-olds in the workforce is expected to decline by 2.8 million between 2014 and 2024, which means that senior living communities could face major labor shortages.***
Direction: Presbyterian SeniorCare and Redstone, both of Pittsburgh, shared two different models to bring youth in through education, volunteerism and internships. These types of programs introduce high school students to the benefits of a career in senior living, expanding the potential workforce at a grassroots level.
5. Disruption: unique partnerships providing exponential value
Direction: Twin Cities-based Presbyterian Homes & Services is pioneering relationships with payers and primary care/navigation to create a unique model to contain costs and — more importantly — provide the best-quality care to its residents.
I genuinely enjoyed my time at the conference and salute the leaders who came together to openly share their solutions for a common cause. And every day, every session was guided by this passage from Scripture:
“For surely I know the plans I have for you,” says the Lord, “plans for your welfare and not for harm, to give you a future with hope.” – Jeremiah 29:11
I encourage everyone to address disruption head on by taking new directions that will move our field forward.
*Insured Retirement Institute
***Argentum Senior Living Workforce Trends 2018