Memory care is expected to witness growth in the senior living industry in 2018, according to a survey of executives conducted by financial services company Lancaster Pollard.
Around 53% of respondents said that memory care for individuals with Alzheimer’s or dementia will become the year’s biggest growth area, ahead of other senior living aspects like hospice care, home health services, and assisted and independent living. In 2017, the respondents pointed to affordable housing as the area with the strongest potential for growth.
Despite the recent results, survey participants still expressed a stronger interest toward assisted living, with 37% indicating planned projects in that area, compared to 35% of those who have plans in memory care.
About the Author:
A member of the Assisted Living Federation of America, Ryan Novaczyk has served as the president and CFO of New Perspective Senior Living since 2008. An accomplished executive, Ryan Novaczyk oversees the business performance of the company’s 22 communities, including memory care locations for older individuals with cognitive challenges like Alzheimer’s disease.