Memory care operators are facing challenges in staffing and other crucial areas, but the demand for their services remains strong. Despite the ongoing pains, the industry is seeing innovation and new strategies emerge. Operators are focused on reducing expenses, growing margins, and improving operations to meet the needs of a new generation of residents.
Staffing continues to be a major pain point for memory care operators, but efforts are being made to address this issue. Silverado, for example, has introduced a transition-to-practice program for its nurses to ensure they are well-equipped for their roles. Companies are also investing in training programs to upskill their staff and improve retention.
To rebuild margins, operators are carefully considering their pricing strategies and focusing on retention. By offering quality programming and additional training for staff, providers can justify their costs and retain residents for longer periods. There is also hope for potential new reimbursements for memory care services, though the industry remains cautious about the feasibility of such programs.
Despite the challenges, there is optimism and a sense of innovation within the memory care sector. Operators are looking towards the future and finding ways to adapt and improve their services for the benefit of residents and their families.
