Wireless Solutions Shaping the Future of Senior Housing Communities
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Today’s older adults are looking for independent and assisted living options more than any generation before them. According
to David Schless, President of the American Seniors Housing Association, up to 8% or 6 million of the baby boom generation
(born between 1946 and 1964) in the U.S. will ultimately opt for senior housing. Even in China, where 20% of the 1.35 billion
people are 60 years or older, cultural attitudes are moving towards spending money for senior communities as an alternative to
having a younger family member leave the workforce to provide elder care. Developers in China currently forecast 5% of the
senior market is a target for senior housing, which will only continue to grow with social acceptance of independent living.
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Approximately 70% of residents in senior housing communities use their personal wealth from sources such as home equity
or investment portfolios to fund their entry into retirement communities.
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With the Dow Jones Industrial Average reaching
new highs this year and home prices up over 10% year-over-year, more retirees will be able to aord the lifestyle and care
oered by senior housing communities.
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THE GROWING IMPORTANCE OF WIFI IN SENIOR HOUSING
A recent analyst report indicates that the rapid increase in the world’s aging population will drive senior housing construction
to more than double to $127 billion by 2023, a CAGR of 8% over the next decade.
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A significant portion of this investment
will be focused on technology innovations that leverage wireless networks to create better resident experiences, lower costs,
and increase operational eciencies such as:
• Electronic Medical Records (EMRs) - enable immediate, electronic access to an individual’s health record
• Electronic Point of Care - mobile devices used by caregivers to collect vital signs whether the resident is in their
room, a hallway, or lounge
• Remote Monitoring - passive monitoring of sensors helps caregivers proactively manage chronic conditions and
identify health changes among residents
• GPS Devices – wireless tracking devices or smartphone applications alert caregivers to the location of a resident
that may be lost or in need of urgent care
As senior communities are heavily dependent upon occupancy rates to ensure profitability, industry operators must appeal
to older adults that are more at ease using technology than ever before. According to a recent report published by Pew
Research Center, more than half of all seniors are now online and 71% of them go online every day or almost every day.
Internet usage rises to 90% among seniors with a household income of $75,000 or more or those with a college degree.
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Although smartphone adoption among older adults is still below average, worldwide usage has grown from 1 in 5 seniors to
1 in 3 seniors in just one year.
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Smartphones are not only crucial for helping residents in senior housing communities to stay
connected with friends and family, they can also be used for critical healthcare applications such a medication reminders.