This week was equally as emotional for the senior housing industry as it was for the rest of the country. Kindred surprised the industry by saying “see ya later” to the skilled nursing business, and the industry, as a whole, shared its concerns and hopes surrounding the future of senior housing under a Trump presidency.
Here in the newsroom, our interest was piqued after learning about a woman with Alzheimer’s who voted in the presidential election. And a group of women from Illinois are giving back by making blankets for residents in assisted living to help with side effects of dementia-related conditions.
Kindred to Cease Owning, Operating Skilled Nursing Facilities— Following in Ventas’ footsteps, Kindred announced it will no longer be an operator in the skilled nursing facility (SNF) market. The company will be dumping its 91 SNFs to get its cashflow back up, among other reasons.
Senior Housing Shares Rally After Trump Win, REITs Take Hit— During Donald Trump’s campaign, there weren’t too many policies explained in detail, but one that was discussed — the “repeal and replace” plan of the Affordable Care Act — may have a strong impact on the senior housing market, especially for hospitals and SNFs. The future of REITs under a Trump presidency is also up in the air.
Why Kindred Bailed on the Skilled Nursing ‘Ultra-Marathon’— We dove deeper into why exactly Kindred jumped off the SNF ship with Kindred’s President and CEO. Kindred has cut its SNFs in more than half in the last few years, which should have been a sign they were preparing for a full unload.
Three Senior Living Trends for 2017 and Beyond— Along with a new president, 2017 will also bring new senior living trends to the industry. The industry should expect higher competition than ever, which means providers really need to step up their game next year to stand out among their competitors.
SNH CEO: Five Star Could Close, Sell ‘Problem Properties’— Five Star Senior Living (Nasdaq: FVE) may want to consider selling or closing some of the struggling communities that it owns, according to David Hegarty, CEO of Senior Housing Properties Trust (Nasdaq: SNH). The Newton, Massachusetts-based real estate investment trust (REIT) owns 184 Five Star properties. Five Star itself owns 26.
Alzheimer’s Patient Voted Even Though ‘She Couldn’t Name a Candidate’— A woman in Maine who was diagnosed with early-onset Alzheimer’s in 2012 voted in the presidential election. The kicker is she couldn’t name a candidate who was running, doesn’t know who the current president is or what year it is, according to Bangor Daily News. The real debate surrounds whether there should be any legalities surrounding memory-impaired individuals and their right to vote. The woman’s adult daughter says yes.
Women Make Blankets For People In Assisted Living— Three women in Illinois are making “fidget blankets” for people with dementia, IllinoisHomePage.net reports. The idea of fidget blankets is that they will help keep residents’ hands busy to combat the side effects of dementia. The blankets will have buttons, zippers and beads that move around. The women making the blankets have already delivered about 50 blankets in just six weeks. Go ladies go!
7 Tech Mistakes Every Growing Business Should Avoid—No matter what kind of business someone is running, it is 2016 and tech is HUGE. There are some mistakes to avoid as a business when implementing new technology though, Forbes reports. First and foremost, no business should buy everything up front. The benefit of this, according to Forbes? There will be more money in the company’s pocket and no high maintenance fees.
Written by Alana Stramowski