NIC’s Executive Survey of operators in seniors housing and skilled nursing is designed to deliver transparency into market fundamentals in the seniors housing and care space at a time when market conditions continue to change—providing both capital providers and capital seekers with data as to how COVID-19 is impacting the sector.

This Wave 12 survey sample includes responses collected September 15- 27, 2020 from owners and executives of 67 seniors housing and skilled nursing operators from across the nation. Detailed reports for each “wave” of the survey can be found on the NIC COVID-19 Resource Center webpage under Executive Survey Insights.

Wave 12 Summary of Insights and Findings

Several themes emerged from the results of Wave 12: battling the pandemic is putting strain on operating costs; resident or family member concerns cited by survey respondents as a reason for declines in the pace of move-ins remain high; there has been significant improvement in time receiving COVID-19 test results; resident demand is increasing; and more organizations are using agency or temp staff to fill staffing vacancies. In Wave 12, more than half of respondents (57%) were tapping agency or temp staff to mitigate staffing shortages—up from 36% in Wave 3—adding to increasing operating costs since the pandemic began. Further, while more organizations continue to ease move-in restrictions, the share of survey respondents offering rent concessions to attract new residents in Wave 12 has grown since Wave 10 from approximately one-third to one-half.

• Roughly two-thirds (61%) of organizations were easing move-in restrictions in some or all of their locations in Wave 12, up from roughly half in the prior two waves of the survey. Fewer than one in ten organizations in the past two waves were increasing move-in restrictions, presumably due to temporary local and/or state government mandates for move-in moratoriums when a staff or resident in a community tests positive for COVID-19. Organizations citing a moratorium on move-ins as reason for deceleration in the pace of move-ins is at the lowest level in the time series (15%).
• In Wave 12, more organizations with memory care units reported an acceleration in the pace of move-ins than in any other wave of the survey (51%). This may be simply due to increased demand, and/or it may be due to resident-attracting discounts as half of operators with memory care units (freestanding and/or combined with other care segments) reported offering rent concessions in Wave 12.
• Although more organizations with memory care units reported an acceleration in move-ins in Wave 12, roughly one-third report an increase in occupancy rates from one month prior, down from 40% in Wave 11. The shares of organizations with independent living units and nursing care beds that report no change or increasing occupancy remain similar to recent waves of the survey. However, roughly half of organizations with assisted living units reported month-over-month downward changes in occupancy rates in Wave 12.
• Organizations with nursing care beds reporting accelerations in the pace of move-ins retreated to Wave 8-levels surveyed in late May to early June. Respondents citing hospital placement of residents as a reason for an acceleration in move-ins has waned somewhat since the initial surge of hospitals resuming elective surgeries.
• Significantly, the availability of PPE and COVID-19 testing kits improved in recent waves of the survey. In Wave 12, about three in five respondents (59%) reportedly had little difficulty obtaining PPE, up from about one in four in Wave 10 (27%). Additionally, roughly half in Waves 11 and 12 note considerable improvement in obtaining COVID-19 testing kits, up from about one-quarter in Wave 10.
• The time frame for receiving COVID-19 test results has also improved significantly over prior waves of the survey. In Wave 12, 43% of organizations indicated their test results were being returned within 2 days. Nevertheless, just over half (57%) note that it still takes three or more days to receive test results, however, this is down from 87% in Wave 10.

Wave 12 Survey Demographics

• Responses were collected September 15-September 27, 2020 from owners and executives of 67 seniors housing and skilled nursing operators from across the nation. Roughly half of respondents are exclusively for-profit providers (52%), about one-third (36%) are exclusively nonprofit providers, and 12% operate both for-profit and nonprofit seniors housing and care organizations.
• Owner/operators with 1 to 10 properties comprise 61% of the sample. Operators with 11 to 25 properties make up 22% of the sample, while operators with 26 properties or more make up 17% of the sample.
• Many respondents in the sample report operating combinations of property types. Across their entire portfolios of properties, 81% of the organizations operate seniors housing properties (IL, AL, MC), 31% operate nursing care properties, and 34% operate CCRCs (aka Life Plan Communities).

Key Survey Results

Pace of Move-Ins and Move-Outs

Respondents were asked: “Considering my organization’s entire portfolio of properties, overall, the pace of move-ins and move-outs by care segment in the past 30-days has…”

• In Wave 12, more organizations with memory care units report an acceleration in the pace of move-ins than in any other wave of the survey (51%). However, for the independent living and assisted living care segments, the shares of organizations reporting acceleration in the pace of move-ins in Wave 12 of the survey remained similar to Wave 9 (surveyed late June/early July).
• The shares of organizations with nursing care beds reporting declines in the pace of move-ins increased from Wave 11, and organizations reporting accelerations in the pace of move-ins retreated to Wave 8 levels (surveyed late May/early June). 
  

Reasons for Acceleration/Deceleration in Move-Ins

Respondents were asked: “The acceleration/deceleration in move-ins is due to…”

• The share of organizations citing increased resident demand as a reason for acceleration in move-ins is at the highest level since the question was asked in May (88%). Organizations citing hospital placement has declined since the peak reached in Wave 10, surveyed in the latter half of July (28% vs. 41%, respectively).

• Regarding reasons for a deceleration in move-ins, resident or family member concerns remained high (73%), and slightly more organizations in Wave 12 than in Wave 11 cited a slowdown in leads conversions/sales (55% vs. 48%). Organizations citing a moratorium on move-ins as reason for deceleration in the pace of move-ins is at the lowest level in the time series (15%).

Organizations Easing or Increasing Move-In Restrictions

Respondents were asked to describe whether they were easing or increasing move-in restrictions in some or all of the geographies in which they operate.

• Roughly two-thirds (61%) of organizations were easing move-in restrictions in some or all of their geographies in Wave 12, compared to 56% in Wave 11 and 50% in Wave 10. One-third (33%) were neither increasing nor easing move-in restrictions in Wave 12.

Organizations Currently Offering Rent Concessions to Attract New Residents and Organizations Experiencing a Backlog of Residents Waiting to Move-In

Respondents were asked: “My organization is currently offering rent concessions to attract new residents,” and “My organization is experiencing a backlog of residents waiting to move-in”

• The share of organizations offering rent concessions to attract new residents in Wave 12 has grown since Wave 10 from roughly one-third to one-half. Three-quarters of survey respondents indicate that their organizations do not currently have a backlog of residents waiting to move in.

Move-Outs

• The majority of organizations in Wave 12 of the survey continue to note no change in the pace of move-outs in the past 30-days. This has been consistent since the survey began in late March.

Change in Occupancy by Care Segment

Respondents were asked: “Considering the entire portfolio of properties, overall, my organization’s occupancy rates by care segment are… (Most Recent Occupancy, Occupancy One Month Ago, Occupancy One Week Ago, Percent 0-100)”

• In Wave 12, roughly one-third of organizations with memory care units report an increase in occupancy rates from one month prior, down from 40% in Wave 11, but higher than independent living and assisted living.
• The shares of organizations with independent living units and nursing care beds that report no change or increasing occupancy remain similar to recent waves of the survey. However, roughly half of organizations with assisted living units reported downward changes in occupancy rates in Wave 12.

• The chart below shows the entire time series of independent living care segment month-over-month occupancy change data for each wave of the survey between March 24 and September 27, 2020.
• In Wave 4 of the survey (responses collected April 20-April 26, 2020) two-thirds of organizations reported occupancy declines from one month prior (68%). Occupancy rates began to improve in Wave 9 (responses collected June 22-July 5, 2020), with the largest shares of organizations reporting increases in occupancy in Wave 9 than at any other time during the survey (31%).
• In Waves 11 and 12, the largest shares of organizations with independent living report no change in month-over-month occupancy (48% and 47%, respectively) since Wave 2 of the survey.
• Regarding the change in occupancy from one week ago—about nine out of ten organizations with independent living units report no change in week-over-week occupancy (89%). While about one-third of organizations with nursing care beds reported improving occupancy rates (week-over-week) in both Waves 11 and 12, there has been more recent variability in the shares of organizations with memory care units reporting week-over-week changes in occupancy.

Improvement in Access to PPE and COVID-19 Testing Kits

Respondents were asked: “Considering access to PPE (personal protective equipment) and COVID-19 testing kits, my organization has experienced that access has improved… Very little, it is still difficult to obtain enough PPE/testing kits in most markets/Somewhat, in some markets it is easier to obtain PPE/testing kits than in others/Considerably, we typically have no difficulty obtaining PPE/testing kits, regardless of market”

• The availability of PPE and COVID-19 testing kits improved significantly in recent waves of the survey. In Wave 12, 59% report typically having no difficulty obtaining PPE, up from 27% in Wave 10. About half (48% and 45%, respectively in Waves 11 and 12) note considerable improvement in obtaining COVID-19 testing kits, up from 23% in Wave 10.

Time Frames for Receiving Back COVID-19 Test Results

Respondents were asked: “Regarding COVID-19 test results (either for staff, residents or prospective residents) results typically come back within…”

• The time frame for receiving COVID-19 test results has also improved significantly over prior waves of the survey. In Wave 12, 43% of organizations indicated their test results were being returned within 2 days. Nevertheless, the majority 57% note that it still takes more than 3 days to receive test results, however, this is up from 87% in Wave 10.

Labor and Staffing

Respondents were asked: “My organization is backfilling property staffing shortages by utilizing … (Choose all that apply).” Note: this question was asked in Wave 3, and then again in Waves 10-12.

• Organizations are increasingly using agency or temp staff to fill staffing vacancies. In Wave 12, more than half of respondents (57%) were tapping agency or temp staff to mitigate staffing shortages—up from 36% in Wave 3.
• Three-quarters are offering overtime hours in Wave 12 (down from 85% in Wave 3).

Owners and C-suite executives of seniors housing and care properties, we’re asking for your input! By providing real-time insights to the longest running pulse of the industry survey you can help ensure the narrative on the seniors housing and care sector is accurate. By demonstrating transparency, you can help build trust.

“…a closely watched Covid-19-related weekly survey of [ ] operators
conducted by the National Investment Center for Seniors Housing & Care…”
The Wall Street Journal | June 30, 2020

The Wave 13 survey is available until Sunday, October 11, and takes just 5 minutes to complete. If you are an owner or C-suite executive of seniors housing and care and have not received an email invitation to take the survey, please click this link or send a message to insight@nic.org to be added to the email distribution list.

NIC wishes to thank survey respondents for their valuable input and continuing support for this effort to bring clarity and transparency into market fundamentals in the seniors housing and care space at a time where trends are continuing to change.

The seniors housing and care sector’s most important annual event will be virtual – but don’t make the mistake of thinking it’s become just another webinar. While the 2020 NIC Fall Conference does share a few features with other events that many of us have attended in this year of virtual conferences, it stands apart as a truly interactive, socially engaging convening of leaders, full of opportunities both to share knowledge and to connect with peers.

In short, the ‘essential virtual experience’ is unique, powerful, and well worth your time. Here are just some of the features and experiences you can expect to encounter, as you and your team prepare to gain maximum value from the many opportunities offered at ‘the NIC’ this year. In many cases, the event incorporates virtual technologies that simulate in-person experiences while others are unique to an online environment.

Bump into Friends and Say Hello via Video Chat

The “Essential Virtual Experience” event platform will enable you to see who’s in the room with you, allowing for the kind of chance encounters many attendees experience as they move through a traditional conference. See someone you know? Send a chat to say “hello.” Better yet, invite someone for a video chat to talk one-on-one for up to 10 minutes. You may run into attendees in the virtual Lobby, in the Connections Lounge, or in the Partner Spotlight Zone. You will also be able to see who else is viewing an educational session. Throughout the conference, you can also send and receive emails inside of the event platform, so be sure to check your inbox often.

Peer-to-Peer Connections

Join your peers to share perspectives on timely industry topics. The discussions within the Peer-to-Peer Connections are geared towards creating a community of dialogue on emergent ideas that can provide fresh perspectives and innovative approaches. Gaining insight on how fellow industry professionals are tackling hot button issues can make all the difference in how you navigate your business as you explore various options and potential paths forward. This forum is open to all interested participants.

The NIC Community Connector™

Perhaps the most exciting innovation tied to this conference is the launch of the NIC Community Connector. All attendees who complete the profile registration gain exclusive, complimentary access to NIC’s powerful new networking platform; a custom designed ‘LinkedIn’ style system built to suit the needs of capital providers, owners, operators, service providers, and other stakeholders across the seniors housing and care sector. The innovative online platform provides a means to search for potential new contacts, and to communicate directly with decision-makers.

While launching in parallel with the 2020 NIC Fall Conference, the complimentary NIC Community Connector will remain accessible to all attendees through the end of the 2020 calendar year. Subscribers will retain their access to a powerful set of tools that will streamline efforts to identify financing partners, seek property transactions, and build and grow networks.

The NIC Community Connector is now live. With a completed profile registration, you can now connect with others and access the Attendee Listing. Also, keep checking the platform, as more people sign up, the more powerful it will become. Look for new features, which NIC will continue to rollout this year, providing subscribers with ever-more sophisticated year-round networking capabilities.

Don’t Miss NIC Talks

Our popular NIC Talks series returns—featuring another group of uniquely qualified, passionate thought-leaders, including business leaders, academicians, and leading advocates, sharing their perspectives on the question, “How will COVID-19 impact the future of aging and aging services?”

Presented in the style of “TED Talks,” these popular sessions often pack a powerful punch. Attendees can look forward to viewing the presentations (available on-demand for convenience) in the first ‘Education’ Week of the conference. During the second ‘Connections’ Week, attendees can participate in Zoom calls, led by some of the NIC Talks presenters, for interactive group discussions.

Schedule Your One-on-One LinkedIn Consultations

Veteran attendees know that NIC conferences often feature a ‘LinkedIn™ Corner,’ complete with LinkedIn experts, to help them take their online networking platform to the next level. This year is no different. Book appointments with branding experts to receive one-on-one 30-minute live video coaching sessions to discuss how to maximize your LinkedIn profile to build your brand. Appointments can be scheduled now and will take place daily during Connections Week (October 13-15) from 1:00–5:00 p.m. EDT. There are only 48 slots available, so book early!

Virtual Rooms

The virtual environment mimics our typical in-person conference space. Just as you might familiarize yourself with the conference physical layout, we recommend you survey the landscape of our online event. Don’t worry, the space is intuitive and easy to navigate, well-signposted, and can be fully traversed with the click of your finger.

Lobby 
The Lobby is your home base. It is the central hub from which you can access most of the rooms of the virtual event platform. Don’t forget to look around you and see if any acquaintances are there with you. In this environment, just as in person, you can wave and start a conversation.

Partner Spotlight Zone
Visit NIC’s Premier and Official Partners to connect with their company representatives in the Partner Spotlight Zone. Be sure to make those essential business connections. From here, you can also watch the short videos of Partner Highlights, well worth viewing, particularly if you’re engaged or considering engaging with them in your business.

Connections Lounge  

An all-purpose networking space, the Connections Lounge is the place to go for a host of opportunities to see and be seen, and engage with peers during both weeks. This room hosts public chat sessions, video happy hours, one-on-one LinkedIn consultation scheduling (reserve an appointment early), and provides access to the NIC Community Connector and the braindate™ platform.

Main Stage 

NIC will host our keynote sessions as well as a few entertainment offerings on the Main Stage. Don’t miss award-winning journalist Soledad O’Brien, moderating a discussion with Mark Parkinson, president and CEO, American Health Care Association (AHCA) and National Center for Assisted Living (NCAL), and Andy Slavitt, senior advisor for The Bipartisan Policy Center and former Acting Administrator of the Centers for Medicare and Medicaid Services. Here, household names and political commentators David Brooks and David Gergen will turn their considerable expertise and experience – and wit – to shed light on the factors to consider as November 3 approaches. This election has the potential to impact the seniors housing and care sector both directly and indirectly, and many attendees will be watching this discussion closely.

Concurrent Sessions 

You will come to this room for educational sessions, peer-to-peer video connection sessions, wellness sessions, and NIC MAP® Data Service user group peer-to-peer discussions. You can also come here to see what sessions are coming up, and which ones are currently taking place. Most sessions are available on-demand once they have taken place. Simply visit this space and find the sessions you wish to review at your convenience. Session details and schedules are here.

NIC Resource Center 

In the NIC Resources room, attendees can access NIC publications such as the just released NIC Investment Guide, Sixth Edition, and the Seniors Housing & Care Journal 2020. Links are also provided to access, and subscribe to, the NIC COVID-19 Resource Center, NIC Notes blog, and NIC Insider newsletter.

NIC MAP® Data Service 

Come learn about the sector’s premier provider of seniors housing and care data, NIC MAP Data Service, in this room. Attendees may schedule a NIC MAP Data Service demo, or simply chat with a NIC MAP representative about their needs and how the data service can help their business. Information will also be available for download.

Executive Insights

NIC has created important benchmarks on the impact of the COVID-19 pandemic on seniors housing and care that will allow the market to be better informed on a timely basis. Surveys are distributed on a biweekly basis. From the Lobby, attendees can access Executive Survey Insights – Market Fundamentals data and analysis on the impact of COVID-19 on occupancy rates, move-in and move-out rates, development pipelines, staffing, and supports for frontline community employees and staff.

Operators can also come here to participate in the survey – an important means to improve transparency, which builds trust, as well as to contribute to greater understanding of the impact of this pandemic on the industry.

NIC Actual Rates 

The NIC Actual Rates Initiative is driven by the need to increase transparency in the seniors housing sector and achieve greater parity to data that is available in other real estate property types. The reporting by the NIC MAP Data Service of accurate data on the monthly rates that seniors housing residents are actually paying compared to properties’ asking rates helps the sector achieve this goal.

Enter this space to schedule a meeting or chat directly with a NIC Actual Rates representative to learn more about this important NIC initiative, or to download more information.
 

Take a Moment for Yourself

In keeping with traditional NIC events, the virtual experience offers opportunities for personal enrichment and relaxation. Take a break to focus on yourself and join in the fun for a special shared experience. There are so many opportunities to interact with peers, thought-leaders, and prospects, that it’s important to take these breaks before heading back into the fray.

Brand, Brain, and Being Sessions
This series of sessions offers attendees a chance to focus on themselves and gain expert insights on improving personal brand, productivity, creativity, and overall wellness. The ‘Brand’ session offers advice on improving your personal brand to showcase your best self. In the ‘Brain’ session, attendees will learn how to build life-changing habits and explore some of the apps and tools they can use to boost productivity, time management, creativity, and new ways to create value. The ‘Being’ session focuses on mental and physical health, featuring tips on wellbeing, advice on essential oils, how to avoid burnout, how to be happy, and self-love.

Hamilton and Young@Heart Chorus

The NIC always exceeds expectations, not only for pure business value, but among the best perks of the year. This year, allow us to transport you from live networking and industry thought-leadership (for an hour or so) with exclusive performances from Broadway’s most popular show, as well as one of the most unique, engaging, and inspiring groups performing today.

Hamilton

Go behind-the-scenes with stories from the already legendary show, and be transported, as Broadway and film cast members perform exclusive “Hamilton” songs that are simply not to be missed.

Spend some time with the Grammy Award-winning New York vocalist, Sydney James Harcourt, who played Aaron Burr on Broadway, featured in the Disney+ film, and also performed in the famous Obama White House performance.

Lexi Lawson made her Broadway debut replacing original cast member Phillipa Soo as Eliza Hamilton in 2016. Fans also know her from the leading role in the first national tour of “In the Heights,” as well as her portrayal of Mimi in the “Rent” national tour.

Young@Heart Chorus

Ranging in age from 77 to 92 years old, the Young@Heart performers prove you can grow old without growing boring. With over 50 international tours under their belts, their musical careers were launched long after retirement.

Don’t worry. Like many sessions, these special entertainment break sessions will be available on demand, to fit your busy schedule.

For further details on all the above, as well as schedule information, and other Conference-related resources, please visit the NIC 2020 Fall Conference event site.

The question of whether senior living should include a healthcare component is no longer up for debate. The COVID crisis has shown in the most dramatic way possible that elderly residents not only need to be kept safe from infection, but also need access to reliable healthcare providers.

In recognition of the quickly accelerating partnership between healthcare and housing, the 2020 NIC Fall Conference will spotlight the trend. The Conference is being held online over two weeks. Education Week (Oct.6-8) covers timely topics and market conditions. Connections Week (Oct.13-15) features peer-to-peer and brainstorming sessions.

A number of Education Week sessions will explore healthcare and housing in the wake of the COVID crisis. Here are a few highlights:

• • “What Does Senior Living Look Like in the COVID Era: The New Role of Health and Healthcare On-site.” (Tuesday, Oct. 6, 1-2 pm) Moderated by Bob Kramer, NIC founder and strategic advisor, and president of Nexus Insights, this session will explore partnerships that can deliver benefits to improve length of stay. Attendees will learn about changing referral patterns and the role of effective care. Speakers include James Lydiard, staff vice president, CareMore Health; and Michael Grust, founder, Senior Resource Group.
  • “Four Weeks Out from the General Election: A Policy Discussion.” (Tuesday, Oct. 6, 2:15-3:15 pm) Government policies will have a big impact on housing and healthcare. Journalist Soledad O’Brien leads a deep dive into healthcare policy in a COVID world with Mark Parkinson, president & CEO of AHCA; and Andy Slavitt, former acting administrator of CMS. The panel will cover regulatory impacts, Medicare & Medicaid, and changes to private health plans.
  • The popular NIC Talks series returns this fall as thought leaders address the future of aging. NIC’s Kramer will moderate “NIC Talks: How Will COVID-19 Impact the Future of Aging and Aging Services.” (Tuesday, Oct. 6, 3:30-4 pm) Telehealth and healthcare delivery will be explored. Speakers include Tim Ferris, MD, CEO, Mass General Physicians Organization, Professor, Harvard Medical School; and Krista Drobac, executive director, Alliance for Connected Care. Another NIC Talks, “How Will Covid-19 Impact the Future of Aging and Aging Services” (Wednesday, Oct.7, 1-1:45 pm) explores ageism and COVID as well as how to create a better future and better designs for senior living. Among the featured speakers is AARP CEO Jo Ann Jenkins.
  • “Operator Spotlight-Decision-Making Roadmap to Rapid Testing.” (Wednesday, Oct. 7, 12:45-1 pm) Lynne Katzmann, president & CEO at Juniper Communities shares how she navigates testing accessibility for her staff.
  • “Technology: Top Trends in Senior Care.” (Thursday, Oct. 8, 2-2:45 pm). The adoption rate of new technologies has increased exponentially amid the COVID crisis. Speakers will explore how operators are using technology to improve care, create a more efficient workplace, and enhance communication with residents, families and staff.

For more information on the 2020 NIC Fall Conference, visit: https://fallconference.nic.org/

The 2020 NIC Fall Conference, which will be hosted on an advanced virtual technology platform, features many of the attractions of its traditional predecessors, while boasting a host of new advantages, including convenience and lower pricing.

‘The NIC’ comes at a time of immense change, intense public scrutiny, and uncertainty for the future. Amidst a pandemic that impacts frail elders disproportionately, major policy shifts, the rise of new technologies and standards, economic and social turmoil, and with a critically important national election only weeks away, the opportunity to gain the latest data, insights, thought-leadership, and to connect with experts, peers, prospects, and old friends, is more valuable than ever.

Here’s an outline of what you and your team can expect from the ‘essential virtual experience’:

Education Week | Tuesday, October 6-Thursday, October 8

Connections Week | Tuesday, October 13-Thursday, October 15

Unmatched Thought-Leadership

Attendees will gain access to over 40 informative, relevant, and thought-provoking sessions, featuring over 50 experts and business leaders, in a three-track program designed to cater to a variety of roles across the sector. Some sessions will be live, and many will be available for on-demand access, both during and after the event.

Expect many of the sessions to cover areas of traditional interest, such as valuations, insights from the latest NIC data, and the real-world challenges and opportunities facing operators and capital providers in today’s markets. Others will delve into the particular issues posed by the COVID pandemic, uncertainty in financial markets, policy and regulatory change, and more.

Live Main Stage Sessions

Main Stage sessions will, as always, feature figures of national prominence, discussing issues of the highest relevance to the industry. Award-winning journalist Soledad O’Brien, who currently hosts CNN’s “Matter of Fact,” will moderate a discussion with Mark Parkinson, President & CEO, American Health Care Association (AHCA) and National Center for Assisted Living (NCAL), and Andy Slavitt, senior advisor for The Bipartisan Policy Center and former Acting Administrator of the Centers for Medicare and Medicaid Services. From the vantage point of four weeks out from the general election, the panel will help attendees understand the potential policy impacts and what’s at stake for their businesses.

Also likely focusing on the election and associated political realities, household names David Gergen and David Brooks will turn their considerable expertise and experience – and wit – to shed light on the factors to consider as November 5 approaches. This election has the potential to impact the seniors housing and care sector both directly and indirectly, and many attendees will be watching the discussion closely.

NIC Talks

Our popular NIC Talks series returns—featuring another group of uniquely qualified, passionate thought-leaders, including business leaders, academicians, and leading advocates, sharing their perspectives on the question “How will COVID-19 impact the future of aging and aging services?” This year’s speakers include Jo Ann Jenkins, the CEO of AARP, the world’s largest nonprofit, nonpartisan membership organization. She will offer insights from the perspective of 100 million Americans who are 50 and older, who wish to achieve health security, financial resilience and personal fulfillment.

Dr. Louise Aronson, Professor, UCSF Division of Geriatrics, will address “Ageism and COVID-19: Opportunities to Create a Better Future.” Dan Cincelli, Principal, Perkins Eastman, will provide the most recent thinking on architectural and community design innovation, in “How will disruptive forces like COVID-19 impact the design of senior living?” Krista Drobac, Executive Director, Alliance for Connected Care, will bring her audience up-to-date on one of the most widespread innovations to take root during the pandemic, in “Telehealth Beyond COVID-19, A Bigger Leap Ahead.” Another major driver of change in seniors housing and care is in the delivery of healthcare for a population that, due to their frailty and vulnerability, can, in many places, no longer be routinely transported to clinics and hospitals. Dr. Tim Ferris, CEO, Mass General Physicians Organization and Professor, Harvard Medical School, will cover the deep and lasting implications of this development, in “Impact of COVID-19 on Healthcare Delivery.”

Still the best networking opportunity in the sector

Although nothing can replace in-person networking, the 2020 NIC Fall Conference offers the most connectivity available in today’s environment.

The NIC Community Connector™

Attendees who complete a registration form gain exclusive, complimentary access to NIC’s powerful new networking platform, the NIC Community Connector. The innovative online platform provides a means to search for potential new contacts, and to communicate directly with decision-makers across the industry. It was custom designed to suit the needs of capital providers, owners, operators, service providers, and other stakeholders across the seniors housing and care sector.

Braindate

The braindate™ platform, which NIC rolled out for the 2020 NIC Spring Conference, facilitates focused, issue-specific discussions 1-on-1 or in small groups. Braindate offers both the intimacy of a small group discussion on a pre-determined topic of shared interest (which can be defined by participants), and the efficiency and convenience of scheduled online meeting times.

Live Zoom Meetings

Throughout the event, attendees will be presented with numerous opportunities to participate in live Zoom meetings with experts and peers. Some live meetings will be focused on social networking, with happy hours, and even live entertainment (exclusive Hamilton performances, anyone?) on tap. Other Zoom meetings will be oriented to discussions on the most important and relevant issues, as leaders and experts address the challenges and opportunities of today’s marketplace, and help attendees, as they plan for the future. Throughout the event, NIC will facilitate ‘breakout rooms’ via Zoom, designed to allow for more intimate, focused discussions.

A Personal Touch

As with all NIC events, attendee experiences will include opportunities for some personal and professional development, or to take a break to enjoy live entertainment with their peers. ‘The NIC’ will continue to offer a LinkedIn help desk, helping attendees update their profiles and learn the latest tips and techniques for staying connected and visible in the leading social networking platform for professionals. Videos and presentations, primarily available on-demand, will be available for attendees who wish to take a break with a selection of personal development and wellness programming.

Many attendees are NIC MAP^® Data Service subscribers, or may wish to learn how the leading provider of data and analysis for seniors housing and care can help their businesses. NIC will offer a number of opportunities for existing users and those interested in learning more to access NIC MAP staff expertise. Through the Braindate platform, NIC MAP experts will be available to discuss the platform’s potential business impact in 1-1’s and small groups of prospective new subscribers. In other sessions, existing ‘power users’ can dive a little deeper into how the platform works, what it’s latest updates have to offer, and how to get the most out of the many available tools at their disposal.

The Most Accessible NIC Conference, Ever

Aside from the obvious cost-savings that come with a virtual platform, such as the elimination of travel and hotel costs, this year’s attendees will enjoy a time-savings by staying at home or in the office, while participating over two convenient weeks and, for many sessions, by accessing content on-demand, both during and after the event. The online platform introduces the possibility that many more team members within a given organization can participate without heavily impacting operations and productivity.

To learn more about the 2020 NIC Fall Conference, view a ‘what to expect’ video here, or visit fallconference.nic.org today. 

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Like many property types, seniors housing investment returns fell in the second quarter of 2020 as the effects of the COVID-19 global pandemic and the utter collapse of the economy took their toll. The total investment return for the seniors housing sector was a negative 1.00% in the second quarter of 2020, the first negative return since 2Q 2012.

The income return remained positive but was the smallest increase on record as far back as 2003. The appreciation return fell 2.04%, the third consecutive quarterly decline, making the valuation return a negative 2.43% since 4Q 2019. Many investors reduced their appreciation expectations in the first half of the year as the impact of the coronavirus weighed heavily on their view of the sector.

Comparatively, the total negative return of 1.00% was on par with the NPI which fell by -0.99%, but was slightly worse than the apartment sector performance, which dropped by -0.63%. Hotels plunged by a whopping 16.59%, retail by 3.85% and office by 0.50%. The only sector that did not see declines was industrial, but even there, the appreciation return was negative, albeit slightly (- 0.07%). It is notable that, like other property types, transaction volumes were very limited in the second quarter, making price discovery challenging.

The annual total return through the second quarter of 2020 was 3.52%, outpacing the NCREIF Property Index (NPI) result of 2.69% and the apartment result of 2.98%. On a ten-year basis, total returns are higher at 11.79% for seniors housing—more than 2 percentage points higher than the NPI or apartment returns. The total annual return for seniors housing has been trending down since mid-2014 when it peaked at 20.37%. This pattern can also be seen in the broader NPI index and is due to the appreciation return which tends to slow at this point in the real estate cycle.

These performance measurements reflect the returns of 123 seniors housing properties, valued at $6.3 billion in the second quarter.

See my full Quarterly Highlight in the recent National Council of Real Estate Fiduciaries (NCREIF) Real Estate Performance Report.