The senior housing industry exists to serve the senior community. It provides a safe environment with a variety of services necessary for a higher quality of living in the advanced life stage. Hundreds of thousands of families rely on the integrity of the senior housing industry to provide for their elderly family members. With more and more seniors needing placement in facilities, the senior housing industry is booming. However, in recent months some issues have occurred because of natural disasters.
Hurricanes, wildfires and flooding have torn cities apart. Although, the clear majority of operators weathered these storms with great dedication to the care of their patients and residents. These national emergencies have revealed a lack of protocol and responsibility assumed by some operators in the senior housing industry.
Fourteen Seniors Died in Hurricane Irma
When Hurricane Irma hit Florida, thousands were displaced from their homes. Many did not have access to electricity, gas or other resources for many days. This was also the case for one skilled nursing facility.
Without air conditioning needed for heat relief and persistent flooding, 14 senior residents died while in the care of a negligent operator. Why did this operator fail to evacuate or provide for the patients? Unfortunately, the most probable cause was a monetary loss for the operator.
Every operator in the senior housing industry is required to outfit the physical plant for emergencies. There must be an evacuation plan in place. In the event of a disaster, operators must move residents to another location, whether that is another facility or into a hotel. However, the cost for the evacuation comes out of the operator’s pocket. In addition to other costs like food and water, the overall price grows exponentially. As a result, some negligent operators may be hesitant to follow through with emergency protocol.
The One Percent That Taints the Senior Housing Industry
On a day-to-day basis, there are operators of skilled nursing facilities who overcharge residents, withhold services or provide unnecessary additional services to force inflated billing. Though few in overall numbers, these are operators of skilled nursing facilities and assisted living facilities who prioritize profit over the health and safety of the residents.
Unethical operators make up a small percentage, but they are enough in number to taint the senior housing industry’s reputation. Because of true horror stories like that of Hurricane Irma, family members are potentially less likely to place their elders into the care of senior housing. Not only does this keep professional care from the seniors who need it, the industry itself suffers.
Successful Operators Know Their Responsibility
For operators to run facilities in the senior housing industry, they must pass a series of background checks. Even the smallest infraction stops these individuals from practicing in the senior housing industry. These tight standards are also why malpractice by operators is rare.
The successful operators active in the senior housing industry understand their responsibility. They provide high quality care and attention, meet the needs of the residents and constantly work to make the environment a better home. These operators are the backbone of the senior housing industry and the reason why the industry is as strong as it is.
Do the Right Thing with the JCH Group
The JCH Group is the top brokerage in the senior housing industry because we support ethical operations. At the base of our work, we provide for the senior community and we stand by the operators who hold themselves to a higher standard of performance.
Whatever investment you seek in the senior housing industry, make it the right move with our help. Our resources and information are valid and forthright, so your housing investment stands on principle. Contact one of our investments specialists for more information.