Business Model Disruption; ICAA’s Well-Tech Report; Design for Seniors
Bright Solutions
Consulting firm that empowers Senior Living providers to make a lasting impact on those they serve.
Headlines
Michele Holleran on senior living org business model disruption
You might consider disrupting your own business model before your competitor does it for you. But how to go about it? Michele proposes a bifurcated approach, “dual transformation is the art of creating a second, related business model that will take the place of the existing core business, but at the same time, streamlining and adapting the core business so that it thrives in parallel.” She references a few books including, Dual Transformation (HBR, Amazon, Thriftbooks) and The Practice of Adaptive Leadership (Amazon, Thriftbooks). She stresses the importance of thinking beyond incremental improvements and boldly innovating in both core optimization and the creation of new growth engines. LINK
Katie’s Take
We are all talking about disruption in our industry, and I agree with the opening statement of this article that "providers are beginning to reimagine their business models, but sometimes they do not go far enough". This article illustrates a groundbreaking way providers can radically evolve the way they serve seniors while simultaneously continuing (or optimizing) their existing model.
I know of providers who are pedal to the metal with creating revolutionary new models [hint: it starts with data] while making mild to moderate change to their existing models. New models take time as a foundation needs to be set, and there needs to be time for testing and pivoting as the evolution occurs.
ICAA Forum released their Promise of Well-Tech report
The report outlined 8 guiding principles and affirmed a 3-point definition of wellness technology (well-tech), resident-facing, caretaker support, and organizational tools to deliver improved services. The report highlights the potential of well-tech to generate meaningful data, personalize services, and increase self-care, while stressing that technology should complement, not replace, person-to-person interactions at the core of senior living. LINK (pdf)
Katie’s Take
This is a useful report with practical steps that can be applied when optimizing the way an organization uses technology. An emphasis should be made on the fact that technology does not produce desired results, but excellent strategies that are enabled with the right technology does.
The #1 concern in their poll is the cost considering every department has endless tools being promoted to them. It is critical for providers to measure twice and cut once in building the optimal technology landscape that includes the right mix for their operations.
Healthcare’s Digital Evolution by 2035
PwC released insights forecasting a significant transformation in healthcare delivery by 2035, driven by digital innovation. Emphasizing the crucial role of digital technologies, including data analytics and artificial intelligence as key enablers in a shift towards personalized care and optimized for meeting patients “within or beyond the walls” of traditional medical establishments. LINK
Katie’s Take
It's all about the data! Person-centered care being delivered by a myriad of providers and using the latest technology requires information exchange. Digital transformation isn't just a buzzword for the IT department to decipher. Providers need a long-term strategy focused on capturing, cleaning, analyzing, and exchanging data.
As the article states, a digital backbone with a deep analytics layer is key. Investments in this area must be made to accommodate healthcare of the near future.
The pivotal role of physical and digital design for seniors
In tech the importance of design and user experience are well known, but what about physical spaces? Baker Barrios Architects dives into the importance of incorporating adaptability and flexibility into designs, integrating technology for residents and creating inter-generational gathering spaces. They recommend striving for harmony between functionality and aesthetics, focusing on creating warm, inviting spaces that feel like home. LINK
Recommended by LinkedIn
Additionally, if you want to up your digital design game then check out UX Design for Seniors, 3rd edition, from the Nielsen Norman Group for $125.
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Quick Links
If you missed the US Senate Special Committee on Senior Living’s hearing on 1/25 covering “Assisted Living Facilities: Understanding Long-Term Care Options for Older Adults” you can watch the video or read the statements and testimonies. LINK
A research paper was released this week comparing Israeli and German experts’ attitudes around the use of intelligent assistive tech in dementia care. LINK
Senior Housing News’ Voices Series interviewed Patricia Toledo of MatrixCare exploring how tech solutions can empower caregivers, and the use of predictive analytics to inform care decisions. LINK
About
What matters in the senior living industry? What’s going on, what might it mean, and what will happen next? We’ve got you covered.
The Bright Solutions team has spent decades in the Senior Living industry and we’ve developed a keen sense of the important trends and developments. We apply these same insights in our work with senior living providers to make smart investments by aligning technology with their values-aligned strategic vision.
Brain Candy
Who Came Up With the Super Bowl Roman Numerals?
The Chiefs founder Lamar Hunt suggested that Super Bowls should use Roman numerals after noticing some sportswriters using the format and floated the idea to NFL Commissioner Pete Rozelle in 1970. Prior to that, the first four events used regular numbers. Hunt thought it could lend the Super Bowl a kind of class and gravitas, signaling that it was a major event. Now it’s basically a national holiday, well played Mr. Hunt! LINK