Packed with informative data on the largest assisted living (AL), independent living (IL), and memory care (MC) providers, as well as expert insights on the latest industry trends, The Largest Providers Report continues to be a must-read. The annual publication, produced by Argentum and Lument, serves as an important resource for investors, media, industry participants, and market-watchers throughout the year.
Numbers on the Board
The 2024 edition features a wealth of data that can be downloaded and referenced for customized analysis and comparisons. On this year’s list of top providers (total IL, AL, and MC units), Brookdale Senior Living (54,328 units), Atria Senior Living (38,007 units), and LCS (32,710 units) retained their positions as the first three largest providers, respectively, with Brookdale topping the list for the fifth year in a row. Rounding out the top five are Discovery Senior Living (30,355 units) and Erickson Senior Living (24,326 units).
Discovery Senior Living was one of the year’s notable risers, moving up to the fourth spot from seven last year. Other noteworthy moves include Retirement Unlimited, Inc. (from 72 on the list in 2023 to 17 in 2024), Sodalis Senior Living (from 107 to 61), Distinctive Living (from 58 to 31), and Gardant Management Solutions (from 27 to 19).
There were several newcomers to the list this year, including two inside the top 10—Retirement Housing Foundation (8) and StoryPoint Group (10). Other new arrivals include HumanGood (35), Liberty Senior Living (60), and Presbyterian Villages of Michigan (68).
In addition to provider-based data, the publication also details notable acquisitions and divestitures from 2023, with highlights of noteworthy changes year-to-year in terms of acuity mix, portfolio numbers, and units under development.
Provider Feedback
The Largest Provider Report survey always asks respondents several questions about the state of the industry, distilling learnings that are then articulated throughout the publication’s pages. Feedback this year reflected continuations of post-COVID themes, such as a focus on improving staffing. Operators continue to search for ways to alleviate staffing pressures, with programs for cross-training staff, implementing flexible scheduling, and leveraging telehealth gaining traction, among others. Further, many providers cited the importance of investing in recruitment and retention strategies with a focus on professional development opportunities.
The rise of integrated care models was also front and center in this year’s responses, as the days of siloed care appear to be in the past. Operators continue to find success by offering a continuum of services within a single community. Integrated care models have become omnipresent and a crucial aspect of efforts to provide high-quality care that minimizes disruptive moves.
Other topics touched on include the importance of steadily rising occupancy and the increasing use of artificial intelligence (AI) in operations. The bottom line? The senior living industry is undergoing a period of significant transformation, as market changes, revolutionary technology, and an evolving workforce are making providers reconsider priorities.
Access the complete 2024 Largest Providers report here. Keep an eye out for an upcoming Argentum-hosted webinar on this year’s results moderated by Lument’s Aaron Becker, head of seniors housing and healthcare production.
