CARY, N.C., Dec. 12, 2019 /PRNewswire-PRWeb/ -- Dude Solutions, the leading software-as-a-service (SaaS) provider of operations management solutions, today released their 2019 Senior Living Operations Report, a collection of unique data and survey results providing insight on the trends affecting the future of operations at senior living facilities.
In a market expected to triple in size by 2040, the chief concerns going in to 2020 include workforce shortage, compliance and resident service, while 97% of respondents agree that consumer demands and expectations are increasing. Two-thirds of the surveyed organizations are concerned about facilities failure, yet 30% do not have a capital plan that looks out beyond five years.
Almost half of respondents reported they lack well-documented policies and procedures for their maintenance activities but agree that technology is crucial to their operations. For example, organizations are harnessing facilities-related data for benchmarking by measuring staffing, response time and maintenance cost and rely on software to stay on top of safety inspections and compliance regulations.
The Senior Living Operations Report is a compilation of data collected from over 300 operations leaders and executives at skilled nursing, memory care, CCRC/LPC, senior living and independent living institutions ranging from 1-26+ locations in size. Survey questions focused on the factors impacting today's operations, including market dynamics, how organizations are differentiating themselves to stay competitive, employee turnover, harnessing data and technology for decision-making, and capital planning.
"As indicated by survey responses, the needs of residents, operational processes and tools for planning have changed in the world of senior living operations, but one thing remains certain: Leveraging technology is key to a strong future," said Josh Malbogat, director of senior living at Dude Solutions. "With tools like software to track and manage record-keeping, staffing, planning and using data, senior living operators can take their current challenges and turn them into opportunities for growth."
Key Insights from the 2019 Senior Living Operations Report include:
Middle Market
Addressing the rapidly growing middle market, residents or future residents who fall in the middle of the income spectrum, is a big concern for leaders. Fifty-two percent of respondents offer a product to this consumer today, while 27% are interested in addressing this market segment.
Human Capital & the Changing Workforce
Staffing, turnover, communication and scheduling is the second-most important concern for communities today, but 41% of surveyed organizations do not have a succession plan in place for facilities managers. Respondents ranked resident satisfaction (92%) and compliance (84%) as the top areas of impact for the facilities team.
Technology & Data
The need for technology and data information collection is growing in impact of daily decision-making. Benchmarking data is used with staffing, response time and maintenance costs with over 53% of organizations using it to reduce energy and utility costs.
Safety & Quality
Safety inspections are conducted on a monthly, quarterly or annual basis at 94% of the surveyed organizations. When it comes to quality audits, 86% of respondents indicate they are completed, but at intervals varying from monthly to bi-annually.
Capital Planning
Three-quarters of respondents are concerned about potential risks associated with resident safety, aging facilities and facilities failures. The Executive Director and Chief Financial Officer are most often responsible for creating the capital plan, however, Regional Directors and Facilities Managers are occasionally tasked with this function.
Visit the Dude Solutions website to download a copy of the 2019 Senior Living Operations Report and to learn more about the company's award-winning CMMS (computerized management system), TheWorxHub(TM).
ABOUT DUDE SOLUTIONS
Dude Solutions is a leading provider of operations management software to senior living organizations, including CCRC/LPCs, assisted living, independent living, skilled nursing and memory care. We combine innovative, user-friendly technology with the world's smartest operations engine, empowering operations leaders to transform the most important places in our lives. Today, more than 1,000 senior living communities use TheWorxHub to manage maintenance, housekeeping, inventory, transportation, room bookings, security, benchmarking and more. For more information, please visit dudesolutions.com.
SOURCE Dude Solutions
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