The world of Residential Care Facilities for the Elderly (RCFEs) is always changing.
New regulation alters how care needs to be administered. Residents and staff filter in and out. Medical research advances, both opening up new treatment opportunities and highlighting where care should be adjusted. Today, for example, many RCFEs focus on mental wellness more than ever before.
Ultimately, if you operate an RCFE, you do so in a continually shifting landscape. That doesn’t have to mean it’s wholly unpredictable, though. By tracking with changes and listening to what experts are projecting, you can get ready for what’s ahead.
We have two major predictions about what will impact RCFEs in the coming years — and how to be ready for those changes.
Prediction: Increased Volume
The American population is aging. By 2054, nearly a quarter of people in the U.S. will be 65 or older.
Not only is the aging Baby Boomer population likely to continue filling RCFEs, but they’re increasingly likely to stay there for longer. As medical care advances, people are living longer, even with chronic conditions.
Preparation
Ultimately, this means more demand for RCFEs in the coming years, welcome news to any RCFE owner. If you have the opportunity to expand your resident offering — and specifically to add beds — now looks like an excellent time to act.
Increasing longevity also means that many of the residents who join you will be with your facility longer-term. And that means that your team needs to be prepared to meet what will likely be growing medical needs. As your residents age, the likelihood that your staff will need to administer some level of medical attention grows.
Prediction: More Technological Integration
Facilities have already started to implement technology to improve resident health and safety. With electronic health records (EHRs), it’s easier to monitor residents’ wellbeing and ensure your team is administering the care they need. With telehealth appointments, you can connect your residents with their doctors without needing to transport them physically to that provider’s office. With tech-enabled monitoring, you can know about falls the moment they happen and track the vitals of high-need patients.
This kind of technological integration is already becoming the status quo. As new technologies emerge, though, the landscape will undoubtedly continue to shift.
Preparation
RCFE owners should do two things. First, they should continually research new technologies that could help their facility. A periodic internet search about new tech that enables patient care and better quality of life for the elderly should turn up results.
Additionally, if you decide to adopt any new tech, talk with your insurance provider about it. This delivers two benefits. First, if that technology will help with risk mitigation, it might help you get a lower liability insurance premium. Secondly, if the technology will open you up to any new risks, your agent can help you ensure you have ample coverage for that exposure.
Changes will continue to come RCFE’s way. It’s key to have an RCFE insurance expert involved to make sure your facility is properly protected at every turn. To talk with a team that specializes in safeguarding Residential Care Facilities for the Elderly, contact us at (805) 413-5668.
