Most Decision Makers Said They Source Locally for Better Quality Products
Point of differentiation for their community
15%
Supports the local business community
23%
Residents demand it
5%
Better quality products
57% Source: Argentum survey of senior living leaders, August 2018 *Based on respondents who currently offer locally sourced produce, meat or seafood.
Invest in energy efficient fixtures and equipment Only 5 percent of senior living decision makers said in a recent Argentum survey that energy and utility costs are a signifi- cant challenge, but 49 percent consider it a moderate challenge for their business right now. To help manage costs and reduce their company’s environmental footprint, many survey respondents plan to invest more in efficient fixtures and equipment. Topping the list are energy-saving lighting fixtures, which 37 percent of survey respondents said they plan to devote more resources to in 2019. (See charts on p.53.) Benchmark’s Barstein said electricity prices
2019 Food Prices Trend Beef Poultry Fruit/Vegetables Wheat Fats/Oils Pork Eggs Dairy
have risen over the last few years, especially in New England. In 2018, the region saw a 5.8 percent rise in electricity costs, according to the U.S. Energy Information Administration (EIA). Benchmark Senior Living entered a partnership with Greenleaf Energy, an energy efficiency firm that conducted an energy audit of Edgehill and other Benchmark communi- ties. Greenleaf changed out every light fixture in the community and every fan and compres- sor motor with more efficient products. Since the audit in 2015, “we’ve seen a tangible 20 percent reduction in energy waste,” Barstein said. “We anticipate as a company to see a 43 percent return on our investment.” The EIA is forecasting an uptick of 0.6
2019 MENU OUTLOOK
• Greater emphases in nutrition • More vegetarian, vegan, and gluten-free options • More food items grown or raised in an organic or environmentally friendly way
Source: Argentum 2018 survey of senior living decision makers
percent in electricity costs from 2018. But the EIA predicts a strong 3.5 percent increase in 2019 in the Pacific region. Additionally, natu- ral gas prices are projected to rise across most of the country. New England’s commercial sector is experiencing the highest natural gas price increases, with prices on pace to jump nearly 15 percent in 2018. Although the region’s natural gas prices are expected to drop 5.5 percent in 2019, the declines won’t be enough to offset the sharp 2018 increases. Constantly fluctuating prices like energy
costs are not in an executive director’s control, but “we can be flexible and adept at making change to meet those challenges,” Barstein said. “We will always be on the lookout for any new technology that helps us manage our community better. If you’re not being proac- tive, the cost bite can be pretty significant.”
NOVEMBER/DECEMBER 2018
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