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The senior housing industry doesn’t always offer a clear-cut path to grow and develop. No matter your position, managing the assets within a senior housing portfolio is not without its challenges.

For example, operators are seeking better ways to understand the residents they serve and meet their needs. But without this understanding, they may struggle to know where their residents are coming from and have questions regarding how to connect with prospective residents.

Moreover, operators today don’t have real transparency regarding how their competitors are performing in their same market, They don’t get access to insights regarding things like competitor rates, occupancy, clinical effectiveness, pricing, or even new construction, As a result, operators have to handle most of their work internally, which can make it hard to assess pricing strategies or manage quality of care as an essential community asset.

All of this equals limited resources to generate targeted marketing and advertising content, which, in turn, can make it hard to attract new residents or retain qualified staff members.

Having the right data, rich in details about the senior housing market in your region, can ease many of these challenges, empowering your team to better manage your assets and scale your operations. Here’s how NIC MAP Vision Senior Housing Market Data can change the game.

Resident Wealth & Psychographic Data

Senior housing operators are always looking for ways to learn more about the composition of residents in their communities. NIC MAP Vision’s Resident Insight data can be truly transformative when it comes to understanding your actual resident demographics, including details like financial data and psychographic information

If you are happy with your current residents, Resident Insight provides a roadmap to find more like them. But if you aren’t thrilled with how things are at present, Resident Insight can shine a light on what characteristics might need to change–or even which resident characteristics are affecting your community’s performance negatively.

Resident Insight serves as a central hub for   –including resident-specific income, net worth, net assets, securities, political affiliation, and education level data. The result is a detailed view of the residents that currently live in your community that directly translates into actionable insights to develop your community exactly the way you want. With intel into resident financial data at the community level, you have a clearer picture of where your community fits into the senior housing market.

These profiles tell a more well-rounded story about each resident than one might get just from viewing things like demographics, income, and net worth, filling in the details to better know your residents. You gain access to even more specific information like:

• Household size
• Marketing channel preference
• Lifestyle tendencies
• Political affiliation
• Technical adoption
• And more

The best part is that from here, your team can use this mosaic and financial data throughout other portions of the NIC MAP Vision platform, including dynamic mapping and the analysis engine. Because of this detailed information, Resident Insight sets the stage for all kinds of endeavors, including catering your amenities and marketing campaigns to better connect with your target audiences.

Asset Management & Business Intelligence

One of the most important questions  can ask is, “How is your current portfolio performing?” When fully understanding a senior housing portfolio, it all comes down to determining which factors may be influencing your portfolio’s performance–including which communities are underperforming and which may be over-delivering.

Portfolios provide you with a better understanding of individual building performance and then give you the power to compare this performance to your overall portfolio, factoring for things like underlying geographic benchmarks. With a more detailed look at your whole portfolio, you can access invaluable senior housing market-level factors like:

• Recent transactions
• Unemployment rates
• Climate data
• And more

Additionally, advanced analytics leveraging machine learning algorithms can construct customized comparison sets for your properties. By analyzing millions of data points, the machine learning models can identify the most fitting comparison communities across metrics like size, amenities, resident acuity levels, and local market conditions. Understanding how your community stacks up against its machine-selected peer set helps further contextualize performance.

Portfolios also provide you with tools to create and examine custom competitive sets, which leverage powerful, machine learning-based technology to better evaluate how your community compares to similar communities. This feature can be a powerful driver to influence which potential residents to target, how to market to this target audience, and how to cater your community and services to foster new growth.

How Analyzing Market Performance at Scale Helps

NIC MAP Vision empowers senior housing  to do something else: Rapidly calculate data for a whole portfolio of communities, all in one analysis. Rather than having to analyze one community at a time. NIC MAP Vision can provide decision-makers with powerful data to understand an entire segment of the senior housing market at a glance.

The best part is that this data is still as specific and detailed as it would be for the analysis of a singular community. NIC MAP Vision offers incredibly granular access to data and metrics for supply labor, Medicare, and more for each community, as well as for the complete portfolio. The result is an in-depth analysis at scale.

Detailed Market Analysis to Manage and Grow Your Portfolio

Whether within your portfolio or a localized senior housing market, NIC MAP Vision provides unparalleled clarity to empower data-driven decisions. As one avid user shared:

“One thing that NIC MAP really helps us with is the ability to look at all the different supply nodes in a particular market. It tells us where all the communities are located, how long they’ve been around, and other critical information regarding each particular asset in the markets that we’re looking in.”

Discover resident patterns. Track financial trends. Uncover what comes next. Learn more about how key Resident Insights can change your operations today.