Research shows that on average, adult children visit up to five healthcare communities before making the final decision for their loved one. To successfully stand out from the competition, it is critical that nursing centers and senior living organizations have an in-depth understanding of what neighboring communities are doing to appeal to future residents, their family members, and even potential staff members.
Because it can be both time-consuming and tedious to research who’s who near you – especially if you’re in a metropolitan area – partnering with an outside consulting firm to conduct a competitive market analysis at least once every 12 months, can be extremely beneficial.
Whether you own or operate an independent living, assisted living, nursing center, memory care, or continuing care retirement community (CCRC) – one thing is certain: your time – and your staff’s time – is extremely limited. That’s where industry experts can step in to provide support and objective feedback by conducting a comprehensive competitive analysis. And the best part? Depending on how in-depth an analysis you would like, most of this engagement can be completed remotely.
There are hundreds of factors at play that contribute to census, operational success, and overall resident satisfaction. When conducting a market analysis, operators, administrators and executive directors can expect to receive a detailed report that includes key findings about their competition, including:
This is where leadership and facility-level managers step in to make real change from the top down, including educating staff on how to properly conduct walk-in tours, and emphasizing that following up in a timely manner (within 24 hours) is key to driving occupancy. Additionally, future residents and their family members will be keeping an eye out for cleanliness, safety measures like secure entrances and exits, and professionalism from all staff members, so it is imperative to proactively ensure that these standards are being met.
Don’t forget about marketing. In order to have successful marketing, you must first find out what is important to your audience. What are future residents looking for when they’re searching for their new home?
When 750+ older adults were surveyed about moving into senior living in 2023, 4 out of 5 responded and said they preferred an all-inclusive pricing model. If this is something your building offers, be sure to include it on your website and in your brochures and print materials. Additionally, from the same survey, 29% of respondents said a community providing “a homelike environment” was most important when researching and comparing senior living communities.
Understanding your competitors’ pricing and amenities is just one piece of the puzzle that makes up the greater picture of organizational success in senior living and long-term care. It is also critical to know what residents, staff, and the community are saying about you today. Managing your brand reputation and working to proactively acknowledge and correct major issues is key to building trust with future residents and their loved ones.
To better understand where your organization falls in the senior living market, contact LeaderStat’s Consulting team. Our competitive analysis consulting will provide you with data on surrounding facilities and how they operate. We’ll provide you with a full report on move-in pricing, amenities, and more so you can make adjustments and remain competitive. Contact us today to get ahead of the curve in 2025 and beyond.
Because it can be both time-consuming and tedious to research who’s who near you – especially if you’re in a metropolitan area – partnering with an outside consulting firm to conduct a competitive market analysis at least once every 12 months, can be extremely beneficial.
Whether you own or operate an independent living, assisted living, nursing center, memory care, or continuing care retirement community (CCRC) – one thing is certain: your time – and your staff’s time – is extremely limited. That’s where industry experts can step in to provide support and objective feedback by conducting a comprehensive competitive analysis. And the best part? Depending on how in-depth an analysis you would like, most of this engagement can be completed remotely.
There are hundreds of factors at play that contribute to census, operational success, and overall resident satisfaction. When conducting a market analysis, operators, administrators and executive directors can expect to receive a detailed report that includes key findings about their competition, including:
- Admissions/inquiry management and follow-up process
- Standard room and levels of care rates
- Accepted insurance(s)
- Amenities and features
- Online presence – social media, website, Google reviews
- Community outreach and reputation
This is where leadership and facility-level managers step in to make real change from the top down, including educating staff on how to properly conduct walk-in tours, and emphasizing that following up in a timely manner (within 24 hours) is key to driving occupancy. Additionally, future residents and their family members will be keeping an eye out for cleanliness, safety measures like secure entrances and exits, and professionalism from all staff members, so it is imperative to proactively ensure that these standards are being met.
Don’t forget about marketing. In order to have successful marketing, you must first find out what is important to your audience. What are future residents looking for when they’re searching for their new home?
When 750+ older adults were surveyed about moving into senior living in 2023, 4 out of 5 responded and said they preferred an all-inclusive pricing model. If this is something your building offers, be sure to include it on your website and in your brochures and print materials. Additionally, from the same survey, 29% of respondents said a community providing “a homelike environment” was most important when researching and comparing senior living communities.
Understanding your competitors’ pricing and amenities is just one piece of the puzzle that makes up the greater picture of organizational success in senior living and long-term care. It is also critical to know what residents, staff, and the community are saying about you today. Managing your brand reputation and working to proactively acknowledge and correct major issues is key to building trust with future residents and their loved ones.
To better understand where your organization falls in the senior living market, contact LeaderStat’s Consulting team. Our competitive analysis consulting will provide you with data on surrounding facilities and how they operate. We’ll provide you with a full report on move-in pricing, amenities, and more so you can make adjustments and remain competitive. Contact us today to get ahead of the curve in 2025 and beyond.
LeaderStat specializes in direct care staff, interim leadership, executive recruitment, travel nursing and consulting for healthcare organizations nationwide.
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