Senior Living Has Made It To ‘Broadway’ — But We’re Still Vulnerable
The senior living industry has wanted to be in the spotlight for some time, and as I said in my talk earlier this week at the Senior Living Innovation Forum (SLIF), we’re finally there.
There are pros and cons on making it to “Broadway” after years of playing in “New Haven,” but I’ll highlight one potential drawback here: Greater attention has found senior living at a moment that the industry is especially ripe for disruption.
Here’s why we’re vulnerable:
- There’s huge demand for our product right now.
- Our product currently is costlier than nearly 90 percent of the market can afford.
- Most customers dread having to use our product because of what it signifies about their life and their sense of independent agency and purpose.
- Most significantly, most of our industry thinks we’re sitting pretty. Too many people seem to be thinking “Just watch them come to us. They have no choice.”
Our industry is at a crucial point. I hope you’ll watch my entire talk.
And I have a question for you: Are you a disrupter, or are you confident you can keep doing the same thing and not be disrupted? Let me know on LinkedIn.
Bob Kramer is broadly recognized as one of senior living’s most influential and high-profile thought leaders and connectors. With over 40 years of industry leadership, he has earned the reputation of “agent provocateur” in the seniors housing and care industry and aging services field. He has been described as an ice-cutter and scout in identifying industries and trends that will disrupt the future of seniors housing, aging services, and aging more broadly.
