The Demand for Data in Senior Living: ElderSmarts Provides Analytics and Answers
It’s undeniable that the Covid-19 pandemic intensified challenges and created new ones for senior living teams across the country. Plus, it revealed to a lot of senior living organizations that data and what you do with that data matter so much to how efficiently your senior living operations run every day. It’s almost as if someone flipped a switch during the pandemic — powering plans with data and analytics has become a top priority for assisted living communities across the country.
Since then, Eldermark has seen an unprecedented demand for data. As occupancy fell, as the senior living workforce became more difficult to retain, and as the financial position of so many communities destabilized, we saw many Eldermark customers reaching into their stores of data in search of helpful information to better understand the current state and how to move toward their goals.
In response, Eldermark began work on a new data management system for our customers – technology that could bring together data points from within the Eldermark platform, but also data from any software a community uses. Introducing ElderSmarts, the analytics platform that combines all data from every source at an organization to provide our customers with meaningful, truly actionable analytics.
With ElderSmarts, we’ve seen assisted living organizations create their own custom analytic views or use our included expert-designed standardized data views to improve productivity, streamline processes and work towards community goals.
With insights into occupancy, resident acuity, risk management, revenue optimization, and workforce staffing, these analytic views are what so many senior living communities are looking for as they deal with pandemic-influenced challenges like occupancy, workforce, and financial stability, challenges that could likely remain for communities for the foreseeable future.
Existing Eldermark Dashboard Reporting is a powerful tool that enables teams to monitor performance and make informed decisions, and ElderSmarts takes you beyond those existing transactional reporting capabilities. The current challenges in the senior living market demand advanced analytics to better understand:
- What is happening? (descriptive analytics)
- Why is it happening? (diagnostic analytics)
- What is likely to happen next if the trend continues? (predictive analytics)
- What may be the best course of action? (prescriptive analytics)
By bringing in data from every source you rely on, your team gets a more accurate picture of operations and provides you with truly actionable analytics and insights. That’s what differentiates ElderSmarts from other data reporting options.
Once your data is collected, Reporting Dashboards can organize it in meaningful ways using tools such as tables and graphs. Analytics take it a step further, taking that organized data and then analyzing it in order to gain valuable insights on how you can improve the performance of your healthcare and operational systems, that’s the ElderSmarts difference, and something that senior living teams have been craving for so long.
Clearly, the lingering challenges spurred on by the pandemic for our senior living customers are best met with good data, organized in meaningful ways that go beyond just a report,. Senior living operators need data that describes, that diagnoses, and that prescribes the action required to achieve occupancy goals, a stabilized staffing model aligned with resident acuity, and optimized revenue streams that work toward financial stability.
ElderSmarts is here to provide those insights to senior living teams like yours.
Interested in seeing what insights ElderSmarts can provide on your own operations? Looking to get over staffing, occupancy, and financial challenges? Our experts can take you through a personalized demonstration of how the ElderSmarts analytics platform can help.