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Industry Landscape
The senior living industry is currently experiencing significant growth, driven by an aging population and increasing demand for diverse care options. Technology is playing a crucial role in enhancing services and improving accessibility. The sector is adapting to evolving resident needs, focusing on personalized care and a continuum of services, while facing challenges related to staffing and affordability.
Total Assets Under Management (AUM)
Number of senior living facilities in United States
~Approx. 40,000 to 45,000 licensed senior living communities (Assisted Living, Independent Living, Memory Care)
(3-5% CAGR)
- Driven by aging population.
- Increasing demand for diverse care options.
- Expansion in assisted living and memory care.
Total Addressable Market
500 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Powered Personalized Care Planning
AI and machine learning can analyze vast amounts of resident data to create highly individualized care plans, optimizing resource allocation and improving resident outcomes.
Remote Monitoring & Telehealth Integration
Wearable sensors, smart home devices, and telehealth platforms enable continuous health monitoring, proactive interventions, and virtual care consultations for seniors.
Robotics for Assistance & Companionship
Robots can assist with daily tasks, provide companionship, and support staff with routine duties, enhancing efficiency and resident well-being.
Impactful Policy Frameworks
CMS Requirements for Electronic Health Records (EHR) in Nursing Homes (Ongoing)
The Centers for Medicare & Medicaid Services (CMS) continues to push for broader adoption and meaningful use of Electronic Health Records (EHR) in nursing homes and other long-term care facilities to improve data exchange and care coordination.
This policy pushes senior living communities towards digital solutions, making data integration with platforms like Seniorly more feasible and accurate.
American Rescue Plan Act of 2021 (ARPA) - Home and Community-Based Services (HCBS) Funding
The American Rescue Plan Act of 2021 provided significant federal funding to states to enhance, expand, and strengthen Medicaid Home and Community-Based Services (HCBS), promoting alternatives to institutional care.
Increased HCBS funding may shift some demand away from traditional facility-based senior living, prompting platforms like Seniorly to expand their home care offerings.
State-Specific Assisted Living Licensure and Disclosure Requirements (Ongoing)
Various states are continually updating their licensure, staffing, and disclosure requirements for assisted living facilities, often in response to quality of care concerns and the growing demand.
Seniorly must maintain up-to-date knowledge of diverse state regulations to ensure compliance and provide accurate information to users regarding community licensing and services.
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