Juniper CEO’s 2021 Outlook: Significant Options Amid Restoration, Disruption

by Lynne Katzmann

I can’t remember a new calendar year that has introduced additional hope for a much better upcoming than this one particular. That stated, many of us are moving into the year figuring out that our runway to success is lengthy. But the flip side to each challenge is new prospect. Here is exactly where we believe the prospects lie in 2021:

The Vaccine

By finish of Q1, I think that most senior housing communities — residents and team users — will have been given vaccines adequate for all who choose to be inoculated. Given that existing contemplating is that 60% to 70% of the population demands to be vaccinated to establish herd immunity, and assuming we continue being vigilant with screening, tests and suitable an infection avoidance, senior housing will basically be THE location to be.

Juniper has made the decision to make vaccination a situation of work. Whilst a difficult final decision, we believe it is critical to group protection and to obtaining our “engagement equilibrium” yet again. We also believe it is what residents want.

And that will place us on the highway to restoration. There is significantly restoration wanted: occupancy degrees, purchaser rely on, reduced costs (PPE, tests and team), enhanced financial ratios … and the listing goes on!

Partnerships

We generally converse about the benefit of partnership. In 2021, partnership will be significant.

For the duration of COVID-19, we are normally reminded of our collective accountability for one particular another by the hashtag #weareinthistogether. There has been a superior deal of collaboration between industry leaders. Partnerships occurred quickly — normally due to the fact they were needed to meet primary wants. Whilst the imperative may be distinctive, partnerships like Medicare Edge — in which payers and vendors arrive collectively — will provide both of those companies and new revenues to greater help our fundamental functions in 2021. These will be an important new profits supply as census gradually recovers.

In our better communities, partnering with neighborhood small businesses for meals or entertainment or engagement will also be mutually effective. We can give area in exchange for larger high quality, far more numerous and considerably less pricey programming. And of course, it may well also carry in older older people to our communities to participate and in convert think about us as a dwelling selection for them selves — internet marketing and sales access! Juniper has piloted Catalyst, a new software that engages the higher community to increase our offerings. This will be a key shift in how we foster engagement in 2021.

NIC has been hunting at collaboration throughout the health and fitness treatment industry — upstream and downstream connections — for numerous a long time. Recently, a new firm led by Richard Burke, one of the co-founders of UnitedHealth Team, filed a public featuring to elevate money to produce a coordinated deal of products and services for seniors. Burke programs to acquire into corporations that give the two wellbeing and social services and or present the knowledge to integrate them and confirm their price.

This sort of “partnership” pushes us to take into consideration partnership in distinct methods. In addition, several marketplace leaders are making new versions which layer partnership-provided providers on true estate. A number of of these are targeted on the “forgotten middle”— people who really don’t qualify for public assistance but do not have the resources to pay back for the type of services we provide today. These are new small business styles and in my head are probably to be a greater element of our business story in 2021 and outside of.

Partnership will also be one thing I consider will be highlighted in the plan proposals of the new administration. In early 2021 we have to advocate strongly for a crystal clear definition of residence as the area where an older adult life we should erase the distinction amongst dwelling in the bigger community or residence in a congregate environment to permit us to improved contend with residence treatment.

Partnership is also basic to a new economic theory obtaining traction. Reimagining capitalism is the topic of a number of broadly study guides and article content by British economist Mariana Mazzucato, who has the ear of both equally liberals and conservatives. She phone calls for new partnership among the general public and non-public sectors as she reminds us that some of the world’s finest achievements — together with the online and the new COVID-19 vaccine — stem from govt investment.

Mazzucato asks us to look at how we are defining worth — what has benefit and the actual probable to increase the financial system. In a current short article she speaks about the long-phrase impression of the pandemic on the financial system. She focuses on the truth that the pandemic has altered the way we define vital personnel or people the economic climate simply just can’t exchange. Our workers, disproportionately represented by ladies and men and women of shade, are now observed as vital. She also highlights the benefit of unpaid caregivers in the dwelling, whether or not they treatment for older grown ups or children or any individual else unable to do so on their very own. Will this transform the way we outline worth? If so, what impression will it have on the do the job we do?

I undertaking to say, it will increase the value of our field and perhaps give it some new credence in conditions of its authentic worth to modern society.

Products Redesign

When we feel of merchandise redesign, most of us think about genuine estate. The pandemic has altered some of our wondering about bodily spaces, and I think will have a extensive-time period effect on new construction and significant renovation. In 2021, the provider merchandise we offer will alter.

At Juniper, we have extensive considered ourselves a health and fitness treatment supplier. The pandemic has designed a lot more of us converts as we acknowledge that regardless of whether we wanted to be or not, we are deemed health care providers. In 2021, I feel that we will redefine our items to concentrate on our potential to foster wellness.

The services we supply normally protect against the need to have for a lot more invasive and discomforting clinical interventions which include clinic stays. Our facts will demonstrate our price, and new focused messaging will make that circumstance to individuals, who are hungry for well being to permit them to lead the lifestyle they want. This way too will be section of Juniper’s new software, Catalyst, and we will introduce it additional extensively in 2021.

Technologies

Technology has had a genuine improve from the pandemic. The need to connect practically to allow spouse and children visits or to aid a group tour, to generate pandemic technique centered on info or to integrate companies has grow to be critical to own and professional wellbeing. In 2021, I think we will continue to develop on the basis we have built in 2020.

For example, Juniper will carry on to establish the crowdsourced activities programming web page Digital Connections (www.slvitual.com). Although we could go back again to the outdated signifies of delivering programming, we intend to integrate both equally asynchronous programming and dwell programming. The good quality and selections tremendously expand the offerings we can give inhabitants. In addition, it permits us a usually means to integrate with older grown ups residing in our communities and, frankly, across the earth.

Facts is now a pretty feasible and useful asset. With most software vendors applying an API platform, we have the means to accumulate vast quantities of details into a solitary facts pool. This has incredible opportunity price:

1) Interoperability permits service and company integration, which will save time and, in some scenarios, reduces high priced providers. This delivers an possibility to generate a new revenue stream for these who are instrumental in assessment, arranging and monitoring—like us.

2) The details can be aggregated and algorithms can be utilized giving a new skill to predict outcomes and offer us with proactive match plans to optimize fantastic health and fitness. Juniper will be executing equally. The first with its MA system Perennial Gain and the 2nd in conjunction with PointClickCare and Dascena as section of our pandemic battle approach.

Know-how will also supply us the opportunity to streamline workflows. Second- and in some instances 3rd-generation software program is now offered to the market. These new platforms give the option to streamline do the job. New CRM offerings are a terrific illustration as they automobile-doc profits things to do, allowing profits people to invest a lot more time offering. This will be vital on the highway to census recovery in 2021. A further benefit from enhanced computer software is the capacity to visualize details to make decision building accessible to a broader team of stakeholders.

Disruption

My feelings on 2021 would not be finish without having a speedy comment on disruption — of our field from the outside.

The “Amazonification” of getting old expert services proceeds. This thirty day period, Amazon has introduced Amazon Pharmacy, which will contend with the big institutional, nationwide pharmacies. Amazon’s hospitality-oriented capabilities and apps are getting adapted for supplying older older people services with voice-initially options. It is the tip of the iceberg. You can be guaranteed the other tech giants are not considerably powering.

I also think that private equity understands the size of our sector and its prospective for advancement. My guess is they are assembling the pieces now with an eye in the direction of an integrated product or service significantly like Mr. Burke wrote about in his IPO prospectus.

Following a yr of such uncertainty, it is hard to set stock in any predictions. That reported, dreaming or improved claimed, some free of charge-flowing wondering has retained so numerous of us likely this 12 months.

I continue to imagine we are properly into an marketplace changeover the pandemic has most likely elevated its tempo. Consequently, the capability to believe outside the box may perhaps just be a preserving grace.  I have been graced with colleagues who have indulged me in discussion even as they continued to place out bonfires in their communities.  I rely on that the power we have garnered collectively with enhanced versatility and a huge dose of resilience will carry us forward into a yr of bigger accomplishment.

Lynne Katzmann is a identified market chief, who in 2020 was inducted into the American Seniors Housing Association (ASHA) Senior Residing Hall of Fame. She is the founder and CEO of Juniper Communities, a Bloomfield, New Jersey-based mostly company with a portfolio of 21 communities across New Jersey, Pennsylvania and Colorado.