How Tech-Savvy Seniors Are Transforming Senior Living

Its chief executive officer and founder. Expert in entrepreneurship, investing, and leadership. In these disciplines, I am a nationally recognised thought leader. While sitting at her desk at home, a smiling senior woman uses her phone to make a video call.

The pandemic highlighted the importance of technology in keeping senior housing residents safe, healthy, and secure. A more subtle and long-term trend that should encourage senior living providers to prioritise technology in their facilities is consumer preference. Despite the fact that America’s elderly population is growing, it is also changing at a rapid pace. When it comes to the target consumers and residents of senior living communities, this is a complicated and nuanced evolution that makes technology more basic and appealing.

According to an old adage, 10,000 Americans turn 65 every day in the United States. As a result, senior housing providers are increasingly focusing on them as a target market.

Generation Y is distinguished by a high level of technological understanding and proficiency. According to an AARP study, baby boomers use technology to stay in touch with friends and family. Eighty percent of people use this method to obtain their medical records. This generation, which has significantly different technological expectations, knowledge, and baseline ability, can still shop on Amazon, search on Google, and use Facebook. The senior living population I’ve worked with expects the conveniences and benefits that come with using the “latest and greatest,” which the industry must now deliver on.

Let us delve deeper into evolution to gain a better understanding of its origins.

As a result, not only are baby boomers more open to technology, but so are seniors in general. Overall, Covid-19 increased senior technology usage, particularly among those who were previously averse or unwilling to use it. According to AARP, digital spending among the elderly will increase by more than 200 percent by 2020. For the elderly Americans who have been forced to use technology, it has become more of a necessity than an extravagance.

As a final thought

So, what exactly does all of this entail? Simply put, in order to attract and retain customers, senior housing companies must increase their technology spending and implementation… Some of them, at least. In 2020, 87% of organisations polled (registration required) said they planned to increase their technology budgets in 2021. 86 percent of suppliers anticipate an increase in technology investment in 2020, ranging from less than 25 percent to 50 percent or more.

There is no guarantee that investing more in technology will yield a higher return on investment (ROI). Living facilities for the elderly must invest in value-added devices and systems. Based on my experience at ERG Enterprises, which includes owning and operating businesses in hospitality and healthcare as well as investing in senior-living communities, a value-producing technology should meet the following fundamental requirements.


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