As technology evolves, experts find new ways to strengthen security and amplify health management in retirement homes. Senior care technology is reshaping the landscape of senior living from ensuring safety in their daily activities and promoting health to elevating social connections and streamlining operations.
The senior living industry generates revenue exceeding $94 billion annually, highlighting its significance in the healthcare and real estate sectors. As the industry continues to evolve, encompassing various housing and residential care options tailored to the needs of older adults, the role of technology within these facilities has become increasingly paramount. For those with aging parents, selecting the right tech gadgets can significantly enhance independent living and their ability to age in place safely.
The senior living sector has experienced significant growth over recent years, with annual revenue increasing from $78.2 billion in 2016 to $94.2 billion in 2023. This upward trajectory underscores the industry’s expanding footprint and critical role in today’s healthcare and housing landscapes.
Among other businesses with facilities that require multiple telephone lines that run to various locations in numerous rooms, companies in the hospitality, multifamily, and senior living sectors place an extremely high value on their private branch exchange (PBX) telephone services. Briefly defined, a PBX is a small, on-premises telephone system that an organization operates independently of any outside public telephone network. While an outside telephone company may act as a supplier or provider for certain PBX operations, each PBX system is privately acquired and managed by the specific enterprise that owns it.
It is impossible to overestimate the importance of digital connectivity in the modern property management industry, whether you are working in the hospitality, senior living, or multi-family residential sector.
Business market research professionals such as Inkwood Research’s Sherry Thomas generally agree that unified communication (UC) systems offer tremendous advantages to the organizations that implement and use them. Thomas describes the many ways in which UC systems enhance the ease and flexibility of communications to boost productivity, tighten security, slash operational costs, and drive business growth.
Developers need to future proof their buildings. The pandemic has left an indelible mark on how and where we work, play, and live - a recent NMHC survey showed that over 91% of apartment residents say high-speed internet is an important factor when considering an apartment with nearly 75% stating that Wi-Fi should be pre-installed. According to that same survey, an additional 69% of residents indicated that community Wi-Fi ranked as an important amenity.