Whether it’s the economy or merely the fact that a large majority of people desire to stay in their own homes, aging in place is something that senior living communities are starting to incorporate into their business model, with many buying up or starting their own home health care agencies.
A recent MetLife Mature Market Institute survey shows 83% of retiring boomers have no plans to move from their current residence, while market researchers have noticed a higher average age of those entering retirement communities.
Some senior living providers are capitalizing on this trend by offering services to individuals in the surrounding area for a “community without walls” model. And companies like Intel-GE Care Innovations are creating products to transform how and where senior care is delivered.
Preparing for the Future of Senior Care
Rather than sit back and wait for older seniors to enter their communities, not-for-profit Evangelical Home Ministries, which operates seven senior care communities in Michigan, has embarked on a different route: Help care for seniors who are still living in their own homes.
EHM has been around for more than 130 years, and for most of that time, it offered mainly nursing home-type services. But in 1999, when forward-thinking company president Denise Rabidoux took over, EHM began to transform its business line.
“We started to look at the needs and desires of older adults and what was going on around us in the field, and asking what older adults would want in the future,” says Rabidoux.
More than 90% of older adults never enter traditional nursing homes or retirement communities, she says, and a huge majority stay in their homes for life—echoing the findings of the MetLife survey.
And if these trends meant EHM could only capture about 5% of its target market, Rabidoux told SHN, the company started thinking about what it could do in the future if it started to provide what the senior population needed and wanted.
Expanding Services to for a Larger Target Market
Getting in-home care is an option that’s been around for a while, says Steve Hopkins, the vice president of Wellness and Home-based Solutions at EHM, but his company has striven to be ahead of the curve.
“Part of our voyage has been preparing the company for the future, and that’s where LifeChoices and solutions for older adults that aren’t just care oriented can be thought of as forward-thinking,” he says.
Only healthy residents who can live independently can join the program, and the a la carte services that are available to LifeChoices participants are the same as those offered on EHM campuses.
The Michigan-based not-for-profit is one of less than a dozen organizations across the country offering a continuing care at home program that has tried the model and been successful, according to Rabidoux. Hopkins says it took about a year to build the program, and EHM is now about a year and a half into selling it.
“We’re hitting our stride,” he says, adding that his company is taking on three to four new members each month.
Around the Industry: What are Other Providers Doing?
There are numerous examples throughout the industry of senior living providers expanding their services for a broader clientele base. To name a few: East Coast Erickson Living has its own geriatric care management system; West Coast Emeritus Senior Living has said it’s looking into providing home health services, and already offers complimentary in-home nursing visits/consultations to area residents around its communities.
The Ensign Group has also diversified its product offerings by buying up several home health and hospice agencies, and Innovative Senior Care by Brookdale Senior Living features home health services through its Care3 Wellness program.
Written by Alyssa Gerace