Summary

In this conversation, Jerry Vinci discusses the critical role of assisted living in the long-term care system, highlighting its cost-effectiveness and the high satisfaction rates among residents. He addresses the challenges faced by the sector, including outdated public policy, a shortage of units, and a workforce crisis. Vinci advocates for necessary changes in policy and investment to support the growing demand for assisted living, emphasizing the importance of caregivers and infrastructure in providing quality care for the aging population.

Takeaways

• Assisted living saves Medicare and Medicaid billions each year.
• It supports over 1.4 million older adults in the U.S.
• Assisted living is often overlooked in long-term care policy.
• The average assisted living resident is 85 years old.
• Assisted living saves Medicaid an estimated $43 billion a year.
• We need 880,000 new units of assisted living by 2030.
• New construction of assisted living is at a historic low.
• The caregiver shortage is a significant challenge.
• Policy needs to catch up with the realities of senior care.
• Investment incentives are crucial for development and staffing.

Chapters

00:00 Why Assisted Living Is Undervalued

00:40 The Necessity for Assisted Living Support

02:07 Misaligned Public Policy in Long-Term Care Funding

03:27 New Property Development is Way Behind

04:47 The Workforce Crisis in Senior Care

06:22 Advocating for Change in Assisted Living