Long-Term Care Industry Beset by Challenges but Favored by Demographic Trends
October 26, 2020
COVID-19 has had a terrible impact on long-term care, ranging from a staggering loss of human life and tremendous suffering among its affected residents to operational and financial problems. McKnight’s Senior Living shares that “The financial impact of the pandemic came quickly in the form of increased labor and supply costs, but providers are finding those costs—compounded by additional costs associated with testing—may be a permanent part of the landscape” (Bonvissuto, 2020). The same article already suggests this portion of the care continuum is adjusting somewhat to this new reality required by our changed circumstances.
Creative Solutions to Staff and Resident Problems
Accordingly, “Although the long-term effects of COVID-19 are unknown, providers already are adopting a new normal—prioritizing frontline healthcare workers’ needs, enhancing infection control protocols, increasing supply inventories and altering social isolation practices.” We are already seeing facilities looking for creative ways to overcome some patient isolation problems, like the plexiglass booths for family benefits mentioned in a news report that separate residents from guests but nevertheless enable important visits and connections among loved ones (Mirfendereski, 2020).
Demographics Portend a Positive Future, with Changes
According to McKnight’s Senior Living, the broader outlook for the long-term care industry remains positive with a “demographic wave on the horizon that ensures strong demand for the needs-based asset class.” Assisted Living and Independent Living may also be affected by a slow-down among aging seniors hoping to stay in their homes as long as possible. It is expected, though, that “occupancy levels will bounce back in the long term as the increased levels of care many aging seniors require makes “families realize they are unable to appropriately care for loved ones during a crisis” (Bonvissuto, 2020).
The article also includes:
- COVID-19 May Accelerate Changes Already Happening in Long-Term Care
- COVID-19 Is Pushing More Patients to Make Home Care Decisions
This blog post excerpts a HealthStream article, “Envisioning the Future of Long-Term Care During the COVID-19 Pandemic.” Download the full article here.
HealthStream Solutions for the Long-Term Care Workforce
There is a long list of challenges facing skilled and long-term care (LTC) providers. Turnover rates, for example, for clinical care in nursing homes range from 55 to 75 percent, with rates among Certified Nurse Assistants (CNAs) approaching 100 percent in some areas. With consistent wage pressures, shifting compliance regulations, and rising acuity levels among resident populations, the skilled nursing and LTC workforce is feeling more pressure than ever before. HealthStream works with skilled nursing and LTC facilities to address these challenges, from keeping pace with regulatory requirements to engaging and developing competent staff who can satisfy the demands of increased patient complexity. By partnering with HealthStream, organizations are equipped to seamlessly manage the pressures of surveyor visits, while remaining focused on high-quality patient and resident care. Learn more about HealthStream solutions for the long-term care workforce.