New E-Book Shares 3 Ways Technology Drives Your Competitive Edge

A new e-book tells how CEOs of the most prominent senior living organizations are adopting technology and improving their bottom line. Three Ways Technology Drives Your Competitive Edge shares insight from top executives on the following:

• Data-driven success
• Data points
• Data and the care continuum.

Senior living providers who are gaining an advantage over their competition are doing so by tracking metrics across their organizations. They are joining other industries in prioritizing a data-driven approach; a 2016 VantagePartners study found that 30% of executives in Fortune 1000 companies point to big data as mission critical to their organizations.

This data includes operational data, such as labor costs, utilities, sales and pricing, says the e-book. Resident data related to falls, occupancy, and health and wellness is helping providers to assess performance, drives marketing messaging, and to be a better partner to other healthcare organizations.

Outcomes: Collecting data through EHRs helps organizations improve clinical care. They are using data to track residents’ health and wellness, such as alerting staff when residents fall. Data also enables providers to share health metrics with families and caregivers, showing them the reasons for the care provided and the related costs.

Business Strategy: Organizations also are using data to make strategic business decisions, such as converting independent living units to assisted living. Data collected via revenue management technology, such as market rent that informs market pricing in real time, is attracting the interest of investors.

Solid data also can enable senior housing organizations to form strong partnerships, such as with hospital systems and accountable care organizations (ACOs). Capturing and presenting data that matters to payers builds providers' credibility and demonstrates their cost effectiveness.

Download the e-book to learn more.