We’re problem-solving futurists and innovators in the aging sector.
The Baby Boomer cohort is aging, and the number of seniors is growing rapidly. Aging in place is an essential concept for older adults to age at home longer and healthier. Technology/ Smart hubs have made it easier for people of all ages to live independently at home, so they delay going into long-term care.
Nursing homes are dealing with a lot of problems and challenges. These issues have resulted in lower-quality care, higher staff turnover rates, and declining occupancy rates that translate into financial pressure for nursing home operators.
There is no one-size-fits-all solution for seniors. Seniors are not a homogenous group; they have different needs and preferences, which means that the housing products should reflect this diversity. Senior living market segmentation allows marketers to develop housing that better serves the unique needs of each senior demographic. This approach makes it possible to create personalized care plans based on the individual’s age, health conditions, financial situation, and lifestyle choices.
Timestamps:
[04:34]
I’m eager to talk to him about three topics. The first one is tech and retail giant senior care products impact on senior living. And the second is Bob’s proposed solutions for the problems facing long-term in today’s nursing homes. And the third topic is the segmentation he believes will arise in the senior living industry.
[05:03]
The rise of the aging population is leading to a need for more senior care in corporate giants. Like Amazon, Best Buy, Walmart is disrupting this with their products. So, technology is changing the way people live and age in America, older adults are now able to maintain their independence with convenient products from, Amazon, Best Buy, and Walmart, which makes it easier for them to take care of themselves at home. So, do you see smart hubs as a future of elder care?
[32:35]
So, this brings us to the next topic, which, your thoughts on the problems with nursing homes and some possible solutions. So, you recently wrote an article in health affairs regarding this, problems with nursing homes, and some solutions. So, can you get us up to speed on some of the most vital issues in the skilled nursing setting today?
[43:30]
You’ve talked about how product segmentation into new living space is in its infancy, in what you call Boomerville segments will emerge. So, can you explain why you believe this?
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Bio:
Bob Kramer
Founder and Fellow of Nexus Insights, a thought leadership platform dedicated to the dissemination of ideas and models that challenge the status quo and contribute to the transformation of housing and aging services for older adults. Mr. Kramer is also Co-founder, former CEO, and now Strategic Advisor at the National Investment Center for Seniors Housing & Care (NIC).
He is broadly recognized as one of senior living’s most influential and high-profile thought leaders and connectors. With over 35 years of industry leadership, he has earned the reputation of “agent provocateur” in the seniors housing and care industry. He has been described as an “ice-cutter” and scout in identifying industries and trends that will disrupt the future of seniors housing, aging services, and aging more broadly.
In April 2020, Mr. Kramer launched Nexus Insights to “rethink aging from every angle.” The organization engages a network of leading thinkers and thought leaders to provide provocative insights and actionable models to catalyze the next generation of housing and aging services.
You can find Mr. Kramer at: https://www.linkedin.com/in/robert-kramer-15238b15/
