During our recent virtual Sales Summit, Oakmont Senior Living COO Matt Stevenson said something that caught my attention: “When we look in most markets, we’re hovering around 10% to 11% penetration … to fully recover as an industry, we’ve got to get that to 15% levels.”
His point was that, with the vaccine rollout enabling more move-ins, the entire industry is entering a lease-up period at the same time; the competitive environment is already becoming cutthroat, and results are going to be disappointing if providers across the country all are competing to win over the same small slice of the market.
While Stevenson’s argument makes sense to me, the industry historically has struggled to increase penetration rates, and it seems nearly impossible that the sector could quickly and dramatically increase penetration in the current environment.
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