SLE: Why is it important to senior housing operators and owners to have this resource? AM: Operators and owners are making important decisions that can’t be left to chance. Good data helps us all make good business decisions, and that’s where NIC MAP Vision come in. We are the gold stan- dard when it comes to supply and demand data in the market, including rate and occu- pancy data, market analytics, construction pipeline and demographic data. This data is crucial to making informed decisions on where to build, where to buy, or for asset management and operational activities.
SLE: How do ensure the accuracy of your data? AM: We ensure the accuracy of our data through a combination of high-quality data sources and a rigorous quality assurance process. We aim to partner with the best- in-class provider for each dataset we bring to clients and regularly assess the ongoing value of those partnerships. For communi- ty-specific data, much of what we report on is willingly provided to us by our operator partners that provide direct rent roll submis- sions. Some information is collected through ongoing surveys. We have internal teams, processes, and systems designed to receive, review, and conduct quality assessments of all the data that is headed for production. Every dataset is reviewed before it goes into production, so our clients can feel confident in the data they’re using every day.
SLE: What new offerings or data do you see coming in the near to intermediate future? AM: We have two new offerings that we are extremely excited about: 1. Healthcare: We’re expanding our services into the healthcare industry by offering senior housing market intelligence data to
healthcare providers. Seniors de-
serve seamless support throughout the continuum of care. To do this, multiple providers must work together along the
healthcare journey. Now we are making it easier than ever for healthcare provid- ers like hospice and home care, primary care,
rehabilitation/therapy services
and long-term care pharmacies to forge meaningful
relationships with senior
living communities for an efficient deliv- ery of care and services throughout the continuum. The interest thus far in our senior housing data and analytics has been fantastic. NIC MAP Vision now supplies data to the top three long-term care pharmacy providers, four of the top six rehabilitation services providers in assisted living, and many of the leading hospice organizations across the country and we’re bringing that same data to our core clients free of charge.
2. Real Estate Listings: NIC MAP Vision offers the first online and free source of listings for high-quality senior hous- ing real estate. It’s available within our existing client platform, making access to the data user friendly and accessible, and it’s designed to connect buyers and sellers to help them transact effectively and efficiently. Users can see land par- cels, buildings, or even full portfolios of senior housing communities, and there’s more than $400 million in deal volume available. Brokerages are also highlight- ed, offering visibility but also confidenti- ality for all parties.
SLE: Describe how what you do helps catch senior living up to other health care settings in terms of data analysis. AM: There’s no question data is important to making smarter strategic decisions to power organic and inorganic growth. Our data bridges senior housing and the health- care industry. NIC MAP Vision brings transparency and insight into senior housing communities, their operators, and their res- idents. This is powerful information for the healthcare industry as leaders search for se- nior housing partnerships. Now, healthcare providers can use our data to quickly under-
stand community demographics, incumbent senior housing provider relationships, and volumes. This allows them to efficiently align their future development in lucrative geographic regions and among target seg- ments. It strengthens the continuum of care by creating better partnerships throughout a senior’s healthcare journey.
SLE: How do you make data digestible? There is so much data. How do you focus on what’s important? AM: With nearly two decades of service under our belt, we’ve had a lot of time to fine tune our offerings to the nuances of each stakeholder in the industry. Our team is comprised of experts from operators, investors, lenders, brokers, data scientists and engineers who meticulously assess each feature of our offering to ensure clients re- ceive actionable insights. Additionally, we regularly incorporate client feedback into our product roadmap to connect their needs to the data we provide. We have been for- tunate to have worked with nearly 10,000 professionals in the senior housing industry – many of whom have given us guidance and feedback on how to improve the prod- uct for their specific use cases.
SLE: What trends do you see emerging in 2023 that the industry is tracking? AM: Occupancy recovery and NOI growth are at the top of our watchlist. We’re seeing consistent occupancy growth quarter over quarter and are hearing reports that rev- enues are following suit. The growth and performance of the Active Adult segment continues to be a major point of interest for investors and newcomers to our indus- try. Additionally, we are going all in on the opportunity for new technologies, such as artificial intelligence and Large Language Models, to drive desperately needed mar- gin expansion in operations and investment processes.
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