Navigating the Post-COVID Climate of Financial Challenges and Declining Occupancy
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Although the worst of the pandemic may have passed, it is expected that we will be living with the aftereffects of the COVID-19 crisis for a while. One of the most affected industries is the long-term care industry, with senior living facilities now facing major financial and occupancy challenges.
Residents of long-term care facilities have accounted for a large percentage of all U.S COVID related deaths, and with families now hesitant to move their elderly relatives into these facilities, occupancy levels have been significantly reduced. This has compounded the financial challenges already being faced by this industry. Its critical for leadership executives to focus on strategies and approaches to combat the financial strain these facilities are being placed under in order to remain open and provide a first-class service to this vulnerable population.
Learning Objectives:
Effective cost-saving practices to maintain profitability
Ensuring supply chain resiliency in the face of disruption
The value of efficient vaccine distribution in protecting residents
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