Long Term Care After COVID-19:
The Road Ahead
May 20th 2020
12.00 – 1.00 Eastern Time (EDT)
This program has been approved for Continuing Education for 1 total participant hours by NAB/NCERS - Approval #20210807-1-A68213-DL
Long term congregate care is being ravaged by COVID-19. In many states, 40% or more of the COVID 19 related deaths have been among residents of nursing homes and assisted living residences. The pandemic has wrought a crisis in congregate long-term care for which the sector was not prepared.
For decades policy makers, intermediaries and the public have accepted and/or tolerated a system that cares for the most vulnerable. The “system” in the US has basically two tiers: 1. Nursing homes, which are for the poor and disabled, and; 2. Market-rate assisted living residences, which are for the middle and upper class who are (almost) equally frail and disabled. But viruses don’t care if you’re well-to-do or poor; illness and death have beset both the poor and the well-off.
Front door admissions to nursing homes and assisted living residences have come to a screeching halt as the result of the pandemic, while back door discharges for hospitalizations and death have continued. When some sort of stabilization has finally taken hold, how can this sector recover? Headlines report fear and uncertainty, while images appear almost everywhere showing distraught family members on the outside looking through windows at confused residents on the inside. How will this situation affect the public’s willingness to accept congregate long-term care in the future? And importantly, will there be state or federal action to address this wholesale tragedy of neglect of the poor and vulnerable?
Join me for a discussion looking at these and other questions for congregate-care center managers and providers during and after this extraordinary global pandemic. We need a plan for what to do now, and afterwards.
The first webinar on April 15th – Long Term Care: Crisis Communications –focused on how nursing homes and congregate-care center managers can best handle both external & internal communications in this crisis.
In this second webinar, on May 20th, Irving Stackpole will talk about – Long Term Care After COVID-19: The Road Ahead.
The topics will discuss the likely recovery of, and the future for long-term congregate care in the post-COVID-19 period.
We hope you will join us for this free informative webinar.
Whether you are a decision-maker for a nursing home, assisted living or other senior care organization, attend this webinar to hear about the possible paths to recovery for the congregate long-term care sector.
Long Term Care After COVID-19: The Road Ahead
May 20th, 2020
Find the insights your long-term care business needs.
COVID-19 has had a disproportionately negative impact on nursing homes and assisted living residences
- Will the funding crisis in nursing homes finally be addressed?
- Will employees still want to work in nursing homes and assisted living residences?
- Will the public trust of congregate care be restored?
- How will unemployment impact demand for nursing homes & assisted living residences?
What We Will Talk About
Defining the Issue
For over two decades leading up to the pandemic, demand for congregate senior care had been flat or declining in many locations due to demographics, ageing infrastructure other issues. Despite this, additional supply was added to the market rate assisted living supply further reducing utilization and occupancy. Unable to make ends meet on over half of its population (Medicaid), nursing homes survived on 10 to 12% Medicare and a few private pay patients by subsidizing the losses among Medicaid patients. Before SARS-CoV-2 spread, as part of cost controls, managed care providers (“Medicare Advantage”) squeezed margins on the nursing home Medicare and private pay beneficiaries, reducing the ability of nursing homes to stay afloat. Even before the pandemic we saw record-breaking closures and bankruptcies among nursing homes.
What will COVID-19 change? Just about everything.
The changes brought about by the COVID-19 pandemic shock affect both the demand and supply sides of the congregate long-term care markets. On the demand side, consumers will be slow to accept congregate care once again, given the fresh memories of disproportionate illness and death. Images and stories that have appeared and will continue to appear in the media will drive home this point for months. Initially, only seriously need-driven consumers will accept congregate long-term care as a solution. Providers and locations which have been relatively free of the COVID-19 scourge will be able to do better, creating narratives that contrast their success to less fortunate competitors. Demand for home-based services will soar, constrained by labor markets.
On the supply side, many congregate care centers – especially rural or exurban nursing homes – will struggle to survive. Providers who are well-positioned and have access to capital markets will have to significantly reconsider their marketing, with far more aggressive digital marketing and careful market segmentation. Over the next 3 to 8 years, a few lost or gained admissions may make the difference between closure and survival. And as healthcare systems which have struggled with the COVID-19 crisis pivot back to meet the elective needs of consumers and fill their now empty outpatient slots and inpatient beds, hospitals may represent new competition for local congregate long-term care.
These collisions of market forces will also create opportunities. There will be growing pressure for greater levels of efficiency, blending technologies and individualized surveillance and care. Public health, social determinants of care, home healthcare and home and community-based services will take on greater importance and probably receive significant additional or redirected funding.
What has COVID-19 changed? Just about everything. Let’s join the conversation.
With decades of experience, Irving Stackpole is the President of Stackpole & Associates, Inc., a marketing, research, and sales training firm. Founded in 1991, Stackpole & Associates applies scientific marketing principles to develop practical solutions to clients’ challenges. Stackpole & Associates works collaboratively with clients to create innovative and practical solutions to the challenges facing organizations in the rapidly changing long term care markets.
Irving is the co-author of, “Marketing Handbook for Health Tourism”
All Attendees will receive
Recording of the webinar
This session will be recorded, including participants questions and answers, and will be made available to participants after the webinar for further review and sharing.