The article below was originally posted on McKnight’s Senior Living, January 25, 2017, by Lois A. Bowers, Senior Editor
Many senior living organizations will be investing in information and communication technology infrastructure in 2017, according to the results of a new Ziegler CFO Hotline survey.
The specialty investment bank, with input from the LeadingAge Center for Aging Services Technology, in December asked senior living organization chief financial officers about their companies’ technology spending plans for the next 12 months. A total of 115 CFOs participated in the survey, 65% of them from single-site organizations and 35% from multi-site providers.
The most frequently cited area for planned investment over the next 12 months was ICT (sometimes calls e-health) infrastructure, with 45% of total respondents indicating that their communities intend to spend money in this area. Fifty-five percent of multi-site operators plan such expenditures, compared with 38% of single-site operators.
The second most popular area for planned technology investment this year is electronic health or medical records systems. Overall, 35% of respondents said they plan to make such investments, with 40% of multi-site operators and 31% of single-site operators making such plans.
The third most popular area for planned tech expenditures is access control/wander management systems. Overall, 31% of respondents said their communities will invest in such systems in 2017. The rate is 35% of multi-site operators and 27% of single-site operators.
See the complete survey results, including information about past technology spending, here.