CLA (CliftonLarsonAllen LLP), one of the leading professional services firms in the United States, has released its 2021 Senior Living Trends Report. The report studies responses from senior living providers across the United States. Respondents were limited to life plan communities, however, the trends tend to be universal and applicable to a broader arena of senior living providers.
“2020 swept the world of health care into the unknown,” said Mario McKenzie, senior living principal at CLA. “In 2021, as senior living providers continue to navigate the current state of the industry, we believe this report provides a platform for health care teams and board members to discuss and identify growth strategies to solidify strategic planning.”
Through this in-depth analysis and the team’s work alongside many senior living providers, CLA noted one observation rose to the top: strategic planning, now more than ever, is key to future success.
“Many of our clients are at the edge of great opportunity,” continued McKenzie. “Demographics show rapid growth in the number of individuals aging over the next 20 years, providers have access to more data than ever, and financial and business plans often include a large outlay of cash loosely aligned to strategy. I find it personally rewarding to work alongside clients to create a solid vision to bring their future into focus, backed by a solid plan.”
Senior living providers navigate a myriad of strategic, market, financial, operational, and clinical considerations on a daily basis. Visioning and financial modeling can provide a long-term roadmap aligned to the organization’s mission and values.
CLA has reported on senior living trends since 2018. Access the report here.
CLA exists to create opportunities for our clients, our people, and our communities through industry-focused wealth advisory, digital, audit, tax, consulting, and outsourcing services. With more than 8,500 people, nearly 130 U.S. locations, and a global vision, we promise to know you and help you. CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. See CLAglobal.com/disclaimer. Investment advisory services are offered through CliftonLarsonAllen Wealth Advisors, LLC, an SEC-registered investment advisor.