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Industry Landscape
Total Assets Under Management (AUM)
in
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( CAGR)
Total Addressable Market
Market Growth Stage
Pace of Market Growth
Emerging Technologies
Artificial Intelligence (AI)
AI-powered care management platforms can personalize care plans, predict potential health issues, and optimize staffing, leading to improved resident outcomes and operational efficiency.
Telehealth
Telehealth solutions are expanding access to specialized care and remote monitoring, particularly beneficial for residents in rural areas or those with mobility limitations.
Internet of Things (IoT)
Wearable sensors and smart home technologies can track resident activity, monitor vital signs, and detect falls, enabling proactive intervention and enhanced safety.
Impactful Policy Frameworks
CDC Guidelines for Infection Prevention and Control in Nursing Homes and Assisted Living Facilities (Ongoing Updates)
The Centers for Disease Control and Prevention (CDC) provides updated guidelines for infection prevention and control in nursing homes and assisted living facilities to minimize the spread of infectious diseases like COVID-19, influenza, and norovirus.
This will require senior living communities to invest in training and resources to effectively implement and maintain infection control measures, influencing their operational costs and procedures.
Americans with Disabilities Act (ADA) Standards for Accessible Design (2010)
The ADA sets standards for accessible design in buildings and facilities, including senior living communities, to ensure individuals with disabilities have equal access and usability.
These standards influence the construction, renovation, and operational aspects of senior living communities to ensure the safety and well-being of residents, increasing capital and operational expenditures.
The Elder Abuse Prevention and Prosecution Act (EAPPA) (2017)
The Elder Abuse Prevention and Prosecution Act aims to improve data collection and coordination among federal agencies to combat elder abuse, neglect, and exploitation, providing resources and training to protect seniors.
This act increases regulatory oversight of senior living facilities, potentially leading to increased compliance costs and administrative burdens for businesses in the senior living industry.
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