While I think there are occasions when senior referral agencies provide real value to seniors and even to senior communities I mostly view them as a collection of parasites that sucks millions of dollars per year out of the pockets of senior communities, dollars that could be used to reduce costs, improve programs and even increase industry profits. 

While I think there are occasions when senior referral agencies provide real value to seniors and even to senior communities I mostly view them as a collection of parasites that sucks millions of dollars per year out of the pockets of senior communities, dollars that could be used to reduce costs, improve programs and even increase industry profits. 

(As a disclaimer, I do from time to time come across local marketplace referral agencies who work hands-on with residents, their families and senior communities.  These guys provide a real service and earn their money.) A few weeks ago I came across an article about a new company called Silver Living that had developed a new senior living portal that is part referral agency, part directory company and part consumer rating company, I got to wondering if they might have a platform that would provide real value and take a bite out of the big national referral companies.

Silver Living

Silver Living was conceived by Tal Ziv an industry outsider which may be a plus, allowing him to approach the problem from a different viewpoint.  His grandmother needed assisted living and he started with a computer search.  He quickly came to startling realization that internet was full of pretty pictures and nice words, but very little in the way of hard information.  The result was Silver Living.

Here is how it works:

  • There is no cost to the community to be listed at Silver Living but they tightly control the number of communities and the quality of those communities in each market area.
  • The scary part for the senior living community is that Silver Living then engages in an extensive due diligence process on each new community.  They take a look at inspection reports, mystery shop the community, they talk to residents, families and staff.  They also take their own photographs of the community.  Finally they compare pricing to what is offered to determine value.  At the end of the process, which can take up to six months, the senior community ends up with a star rating and a comprehensive listing that contains substantive information that will help a consumers develop an accurate understanding of what the community is offering.
  • What this means to consumers is the ability to have a much more objective view of the community, the services, prices and quality and perhaps as importantly what services are not provided.

There are three big wins for the listed senior communities: 

  1. Only a limited number of communities are listed in a given market area.
  2. When a referral is made it goes only to the one senior community the prospect selects.  There is no blast to all of the senior communities in the market catchment area.
  3. While they do charge for move-in’s it is a much smaller percentage of the first month’s fee than the big name referral agencies charge.

Right now they are serving the Northeast, but will be rapidly expanding into the following markets:

Los Angeles Philadelphia Chicago Boston
Dallas / Fort Worth Washington DC Phoenix Tampa
Atlanta San Francisco Bay Seattle Detroit
Minneapolis Houston Miami  

 

I think this is a very cool concept and see virtually no downside for the senior communities.  I do worry though, that Silver Living will have a hard time making a go of it, just because they provide so much data to prospects without ever requiring them to register.  This is a pretty easy fix if they need to make it. If you are interested in getting listed contact Tal at talziv@silverliving.com If you are with a listed community, it would be great hear your experience. Steve Moran ++++++++++++++ Don’t miss a single issue of Senior Housing Forum, subscribe today. It is free! We do not sell or share your contact information. The posts are practical and never too long. Go to the main page of Senior Housing Forum and on the top you will see a link to our subscription sign-up page. You will receive notification when a new article is posted. You can unsubscribe at any time. Finally: If you know anyone who is looking at emergency call systems I would appreciate the opportunity to talk with them about Vigil Health Solutions.