The senior living industry faces unprecedented change as residents’ needs grow more complex and technology reshapes care delivery. While most discussions center around clinical care and staffing challenges, another crucial shift is taking place behind the scenes: the transformation of insurance and risk management. These changes promise to turn traditional insurance providers from passive claim processors into active partners in resident care. Drawing from his 25 years of experience working with senior living communities, Scott Reese offers a unique perspective on how these evolving partnerships will fundamentally change how communities operate and care for residents in the years ahead.
Driving Care with Real-Time Data
Senior living is moving beyond reactive approaches to resident safety. “We’re going to see real-time risk management become the norm,” Scott says. He points to existing pendant systems as just the beginning. These devices will soon do more than alert staff to falls – they’ll help prevent them through predictive analytics. Insurance companies are taking notice, with plans to adjust premiums based on this real-time data rather than just looking back at historical claims.
The traditional separation between care and coverage is disappearing. Scott believes insurance providers will become more directly involved in community operations through staff training and retention programs. “Stable, well-trained staff mean fewer claims,” he notes. “The data correlates unbelievably to suggest that’s absolutely true.” This has led some insurance companies to start funding staff development and technology adoption at the communities they insure.
Reshaping Risk Management with Technology
New technologies are changing how communities monitor and care for residents. Scott describes AI systems that will track resident behavior patterns and flag potential health issues before they become serious problems. These same systems will automatically document everything for both care planning and risk management – saving staff time while improving accuracy.
The way communities pay for insurance is also changing. Rather than charging one rate for all residents, Scott explains that “pricing models will actually reflect individual resident acuity in the specific community.” This means more flexible coverage that adapts as residents’ needs change. Some carriers are even exploring monthly premium adjustments based on operational metrics.
Building Better Partnerships
Insurance providers are shifting from simply paying claims to becoming operational partners. “Insurance isn’t just about protection anymore – it’s a strategic tool for operational excellence,” Scott says. He sees more insurance companies specializing in senior living to better understand the day-to-day realities of running these communities. This deeper involvement means insurance companies can help communities improve in multiple areas. When carriers understand that staff turnover affects both care quality and claims frequency, they can develop programs that address both issues. Similarly, they can structure coverage to support innovation when they see how technology investments improve resident satisfaction and risk profiles.
Evolving Together for Better Communities
Scott believes the next decade will bring fundamental changes to how senior living communities operate. “It’s not just about senior living adapting to insurance requirements, or insurance adapting to senior living needs,” he explains. “It’s about both sectors evolving together to create something better – communities that are both financially stable and excellent care providers.” The key to success will be integration. “It’s about creating systems where operations, technology, and risk management work together seamlessly,” Scott says. “And insurance might just become the glue that holds it all together.”
Communities that embrace these changes – using data effectively, investing in staff, adopting new technologies, and working closely with insurance partners – will be best positioned to thrive in the years ahead. The goal isn’t just better risk management or improved care, but both working together to create truly excellent senior living communities.
To learn more about Scott Reese and his take on this transformation, check out his LinkedIn profile.