Big Data and technology are among seven issues most likely to have a powerful impact on the aging services industry, according to the "2018 CLA Senior Living Trends" white paper newly released by LeadingAge Silver Partner CliftonLarsonAllen. The white paper describes senior living trends and the opportunities the trends present to providers.
 
The white paper’s authors write that they see tremendous potential for disruption within the current senior living environment as the impending pace of change becomes overwhelming to those who are unprepared. They hope the report will challenge the thinking of providers and boards embarking on strategic journeys and will position those organizations for future success. CliftonLarsonAllen provides comprehensive strategic, advisory, and outsourcing services to clients across the aging services continuum.

Big Data

Of Big Data, the white paper notes that to progress from data that is interesting but not actionable, providers must be able to draw insight from abundant data and then use it to drive informed, effective decisions and actions. With predictive analytics, the authors say, the ability to intervene and prevent an adverse health event is tangibly close.
 
In addition, three organizations advanced in Big Data—Amazon, Berkshire, and JP Morgan—have joined to create a new, joint health plan type. The paper’s authors expect Google, Apple, Verizon, Amazon, and others to turn their data into solutions that serve seniors.

Technology

The authors also caution that intermediaries may harness technology to offer older adults alternatives to services that senior living organizations traditionally provide. Examples include Uber, Tesla, Blue Apron, and Amazon. These companies are investing significant capital, the white paper says, and their new alternatives may lessen senior living organizations' influence.
 
As a result, providers are well served to consider what combination of activities, marketing, and outreach will enable them to influence older adults. Providers should also consider investments that will enable them to stay connected to consumers, such as security and upgraded bandwidth infrastructure for data-intensive solutions. Partnerships and outsourced staffing may be needed to give providers the technology skills required.
 
The white paper also names these trends as influential: Senior living options, demographic growth, aging in place, workforce pressures, health care reform, and partnerships and affiliations. To learn more, download the white paper.