More reflections on NIC 2013
More attendee reflections on NIC 2013 You can read part 1 here I thought the 23rd NIC National Conference was one of the best I have ever attended. There were over 150 new companies represented at the conference this year which is an indicator of the increasing interest in the senior housing and care industry. The speaker line-up was exceptional and there was great attendance at the breakout sessions which is very gratifying for the volunteer leadership and NIC staff who work so hard to make this event successful every year. It has been a privilege to serve as NIC Chairman the past two years and to be part of such a successful conference.” Randy Richardson, President VI
As a first time attender I found the NIC experience daunting and exhilarating. The NIC staff was very helpful in acclimating and guiding first time attenders. Once with a vendor it was “speed dating” for capital. We found several resources that can help us get our project up and going. The networking events linked me to new providers and helped me make a few new friends. Timothy Geithner did a great job of saying much while imparting little. The whole event was well worth the price and I will be back. Tim Rhodes, President/CEO – Consecra Housing Network
This year’s NIC conference was a smorgasbord of who’s who and industry experts in the LTC and Senior Housing world. The networking opportunities were phenomenal and the sessions top notch. Everyone I’ve spoken with say they felt it was time and money well spent. I agree wholeheartedly. Brooks Barton, Vice President Seniors Housing – American Healthcare Investors
NIC 2013 was another successful conference for us. The back to back meetings can be a grind, but the opportunity to meet and build relationships with new potential industry partners is excellent. Just as important for us as a small company is to re-connect face to face with our financing partner and solidify this key relationship that is critical to our continued growth.
I thought Tim Geitner was an excellent choice for the Thursday luncheon key note. He provided some very interesting insights into the events that dramatically affected all of us during the financial crisis. It became clear that this year discounted drugs will be in great demand. And of course the receptions and various dinners are always a great way to keep our finger on the pulse of what is going on in senior housing. Tom Stanley – Cascade Living Group
This NIC was the busiest in years! The topic de jouer was development. There is a lot of new capital (especially institutional capital) entering the seniors housing industry. Should be an interesting 12 months until next year… James Scribner, Managing Director– Red Capital Markets, LLC
NIC from a Market Analyst’s Perspective – An incredible level of positive energy fueled the 23rd NIC National Conference from start to finish despite the frightening circumstances in our nation’s capital that permeated the mood in the country.
The positive growth in seniors housing was reinforced by presentations and balanced by evidence of the commitment of industry leadership to enhancing the operating standards and expectations and for growing quality staff at all levels.
The networking environment was outstanding including even unanticipated meetings on the up/down escalators such as the one that introduced this writer to Steve Moran. The general sessions were the best I’ve attended in many years, with balanced points of view that were articulated, in some instances, brilliantly. Susan Brecht, President – Brecht Associates, Inc.
The sea of dark suits “talking deals” seemed very frothy this year. Somehow the concept of each community being unique and giving quality care and value to their residents was lost in the noise. The economics of the business are very good (for now), but overbuilding and higher interest rates could change that in a hurry. The valuations that REITs are paying combined with assuming some or all of the operating risks, will be interesting to track going forward. It’s NOT easy to run these communities, keep good staff, deal with changing resident needs, and avoid these various struggles over time. It’s not a business where you get much operational strength with economies of scale. Chip Gabriel – Generations Retirement Communities