The Aging of America According to US Census Bureau data, the number of Americans 65 and older will increase from 47.8 million as of July 2015 to 98.2 million.

Slides:



Advertisements
Similar presentations
A Year of Fewer Clients For 2016, the American Bar Association (ABA) reports a 1.1% increase in the total number of “resident active” attorneys.
Advertisements

Plenty of Interest, Limited Inventory
Tech Sales Boost May Be Coming
Not Banking on Banks The $684-billion commercial banking industry is an essential component of everyday life; however, its role in the financial crisis.
Moving Ahead with Employment and Homebuilding
Expanding Markets, Expanding Revenues
Designs on Profitability
Leisure Time Activities
Succeeding in an Era of Increase Opportunities
Extending and Enhancing Home Life for Seniors
An Accelerating Housing Alternative
The Ranks of Seniors Are Swelling
Give Mom (and the Economy) a Lift with a Gift
An Economy in Need of a Pick-Me-Up
Fundraising and Charities
Another Year of Stellar Sales… with More to Come
Growth Gain Pain Regardless of who is doing the measuring, supermarket sales increased only marginally during Total grocery sales in all channels.
The Sounds of Success According to the Hearing Industries Association (HIA), hearing aid sales have increased significantly during the last three quarters:
Looking back a year According to the 2016 Houzz State of the Industry Report, the general contractors (GC)/remodelers/builders category experienced.
Overview The total U.S. nursing care industry is estimated at $99 billion, reflecting a 0.1% decline in The industry includes about 40,095 businesses.
Enormous Expenditures
The Vet Set After generating total industry revenues of $28 billion for the year ending August 2014, veterinarians posted a gain of 7.1% in revenue for.
Greenery Purchases = More Green in the Bank
Increasing Revenues, But Not Effectiveness
Hardware Stores Hold Their Own
On a Growth Trajectory Considered one of the top “recession-proof” markets, self-storage industry revenues increased from $24 billion for 2013 to $27.2.
The Financial and Jobs Pictures
Property & Casualty Profitability
Not Gaining on Pain In the latest National Health Interview Survey (2012), 50%, or million US adults, 18+, reported suffering from a musculoskeletal.
A Sign of the Housing Market’s Strength
A Return to Double-Digit Growth
Strong and Stable Although the average US monthly rents decreased by $3 during October, to $1,216, they still increased 4.4% year-over-year. Industry.
Caring for Your Body’s Largest Organ
New Construction Needs Contractors
GOOD NUMBERS MAKE FOR GOOD NEWS
A Red-Hot Market Cools During 2017
Unspectacular Sales Manufacturing sales in the US floorcovering industry increased 4.2% during 2015, to a total of $23.1 billion, but this was less.
An Increasing Population Fills Future Classrooms
2018 Will Be a Record Year “Twice”
Molding Children into Productive Adults
Empty Seats According to National Association of Theatre Owners data, total 2017 US/Canada box office gross revenues were $ billion, a 2.5% decrease.
An Industry Renewed After robust annual private-sector growth during of 8–11%, the first three quarters of 2017 declined to 2–4% annually.
18 Months of Sales Improvement
What Americans Like To Do With Their Time Off
Child’s Play IBISWorld estimates 2017 daycare industry revenues were $48.9 billion, and will increase 1.9% annually to reach $52.5 billion by Private.
More Choices Attract More Guests
Traditional Media Are Still Critical to Reach Consumers
A Critical Source of Support for Charities and Nonprofits
We’re Spending More on Healthcare…
A Robust Economy Is Good for Insurance Agents and Brokers
Providing a Safe, Healthy Haven for Children of Working Parents
A Competitive Climate Companies that sell, lease, install, service and monitor security systems generated total 2015 estimated industry revenues of $75.0.
Qualified to Vote Understanding the Latino American voting bloc reveals not only its growth and influence, but also insights about the nation’s Latino.
Facing Every Professional Challenge with Increasing Confidence
Increasing Revenues, But Not Effectiveness
The Fitness Industry Is Strong and Growing Stronger
Health Insurance Costs Trends
A Toast to a Growing Industry
Dentists’ Ranks to Welcome More Women
On the Trail of the American Traveler
Make Mother’s Day a Retail Sales Spike
Gardening Market in Gargantuan Growth Cycle
SPENDING NEEDS A BOOST According to the latest data from the American Dental Association (ADA)/Health Policy Institute (HPI), total dental spending.
Fatherhood by the Numbers
Pool Builders’ Optimism Soars
Too Many Boomers Still Own the Homes Millennials Want to Buy
In Search of a New Winning Strategy
Hospital Spending Increases the Least of All Major Categories
Enticing Today’s Grocery Shoppers Is a Mix of the Old and New
Record-Setting Industry Sales Forecast
Presentation transcript:

The Aging of America According to US Census Bureau data, the number of Americans 65 and older will increase from 47.8 million as of July 2015 to 98.2 million by 2060, or an increase by percentage of the total US population from 14.9% to almost 25%. This significant increase in the number of older Americans will provide challenges and opportunities for a broad range of senior services, including retirement communities and senior rehabilitation facilities. Not surprisingly, the 2014 American Community Survey reported that Tampa-St. Petersburg, FL had the highest percentage of adults 65+, at 18.7%; however, second was Pittsburgh, PA, 18.3%; Buffalo, #5, 16.7%; and Cleveland, #6, 16.5%.

Homes for Seniors Although the senior population will increase substantially, most still prefer to live in their homes as long as possible. Recent studies report that by 2035, there will be 38 million owner households 65+ and older renter households will increase 80% to 11.5 million. From 2009 to 2015, 4%, or 217,000, of all new single-family and multifamily housing units built were in age-restricted developments, which require at least one member of the household to be 55+. Skilled nursing homes, where much of rehabilitation services are available for seniors, had the largest total of all nursing home types during 2017, or 14,278; followed by assisted living, 3,564; retired living, residential, 904; and intermediate care, 563.

A Lucrative Market According to the National Investment Center for Seniors Housing and Care (NIC), overall occupancy in senior housing (independent living and assisted living) during Q2 2017 was 88.8%. Transaction volume totaled $4.053 billion. The overall occupancy rate for nursing care housing/facilities was 86.5% during Q2 2017, with a total transaction volume of $566.7 million. The NIC also reports that capital providers who invest in senior housing are looking for a strategic position in the marketplace; supply and demand, occupancy rates and new development in local and primary markets; and pricing incentives.

The Cost of Senior-Living Facilities According to Genworth Financial, the 2016 national monthly median cost of a private, one-bedroom residence in an assisted-living facility was $3,628. For nursing home care, a semi-private room was $6,844 and a private room was $7,698. NIC reported that, as of June 2017, assisted-living initial rates averaged 8.8% less than the asking rate while average initial rates for independent living properties were 1.2% more than above-year earlier levels, which was a declining rate of increase. During the first six months of 2017, assisted living move-outs exceeded move-ins for three months while independent living properties experienced four months when the move-outs exceeded move-ins.

Rehabilitation and Therapy According to various sources, most senior rehabilitation therapy occurs in nursing care facilities. The $30-billion physical therapy market is very fragmented, as the top-five companies account for just 20% of total revenues. A majority of the 16,000 to 18,000 clinics are small businesses, generating an average of $1 million in annual revenues. The Southeast US has the largest percentage of facilities, at 26.1%; followed by the Mid-Atlantic, 20.3%, and the West, 14.2%. The top-five companies, and their market share, as of December 2016, were Select Medical/Physiotherapy Associates, 9.4%; ATI Physical Therapy, 3.5%; US Physical Therapy, 3.2%; Athletico Physical Therapy, 2.5%; and Upstream Rehabilitation, 2.0%.

Serving Latino-American Seniors With an increasing Latino-American population in the US, it is critical for retirement communities, senior rehabilitation facilities and other health care services to understand and customize care for this population. According to a 2017 study from The Associated Press and NORC Center for Public Affairs Research, just 18% of Latino Americans 40 and older were extremely/very confident that assisted-living communities can satisfy their cultural needs. The study also revealed that 62% of Latino Americans 40 and older doubted the US was prepared to satisfy the needs of the increasing population of seniors, with just 4% saying the country was extremely/very well prepared.

Advertising Strategies TV is an excellent advertising medium to reach adults 65+, as they had a 97% monthly reach for Live+DVR/Time-shifted TV during Q1 2017, according to Nielsen; however, combining TV with direct mail and/or local talk radio may prove to be even more effective. Since many older Gen Xers and Baby Boomers are those that must help or convince their older parents to seek assisted living and/or rehabilitation services, ad messages should emphasize how these facilities can relieve the younger adults of their caregiving efforts. Retirement communities that welcome adults as young as 55 years of age and that have a furnished empty residence, may want to consider a monthly drawing of submitted names from this age group to win a free weekend stay to experience living in the community.

New Media Strategies Advertisers in these categories shouldn’t overlook digital media to reach their target audiences, since 82% of Baby Boomer households have both a broadband Internet subscription and a PC, 86% have a smartphone and 63% have a tablet, as of Q1 2017. Video testimonials of rehabilitation patients during and/or immediately following their treatment, which are then posted to social media, could prove to be an effective strategy for rehabilitation facilities that primarily serve seniors. Older adults seek consumer information just like their younger counterparts, so retirement communities and rehabilitation facilities should post regular content on social media, sharing stories of residents and patients, which connect with older adults and their adult children.