4 Ways to Support a Successful Aging Services Business

A new report from CAST outlines 4 ways that providers of aging services can support a successful aging services business. Technology Trends & Implications on Construction, Expansion, and Update Projects summarizes the main themes that the CAST Commissioners addressed during their Spring 2016 meeting in Washington, DC.

“Thinking like a business leader and figuring how technology can support a sustainable business plan is the wisest, most efficient approach in today’s world, when technology is changing rapidly and its integration is becoming critically important,” wrote CAST Executive Director Majd Alwan in the report’s Executive Summary.

The 4 ways to support a successful aging services business include: 

1.  Outsourcing: Concentrate on what you do best and outsource your technology development and tasks to trusted partners. 
   
   
2. Engaging with customers: Make sure engagement models are part of your mix. These models allow you to learn about your customers' needs in detail, and craft a business model in response. 
   
   
3. Planning for technology: Plan for technology early in building construction and renovation projects. The physical structure of the building will affect the technology inside it, and the building’s technology will affect the infrastructure that the building needs to accommodate.
   
   “Injecting technology strategy into the conversation early in strategic planning, and keeping it front and center in construction projects, is essential,” writes Alwan.
   
   
4. Relying on the CIO: Chief Information Officers (CIO) are a rarity in the aging services field, but they can help ensure proper information technology planning and execution.
   
   “In their absence, decisions about technology are often made by a chief executive officer (CEO) or a chief financial officer, who may not understand the value of technology—and are driven by budget or by a fast-moving buying process,” writes Alwan.
   
   Smaller organizations are encouraged to engage an outsourced/part-time CIO in important initiatives like strategic planning, strategic IT planning, and campus construction/expansion/upgrade projects. 

Components of the CAST Commission Meeting

The March Commission Meeting was divided into 3 distinct sections:

In a presentation to Commissioners, Peter Kress, vice president and chief information officer of CAST Patron Acts Retirement-Life Communities, provided an overview of technology trends and discussed the importance of investing in technology and thinking like a business leader. 

During a Construction Expert Panel, Tye Campbell of SFCS, Virginia Depies of LeadingAge Gold Partner Direct Supply, and Michael S. Catlett of Advanced Project Management provided tips on how to:

• Integrate technology into campus construction, expansion, and upgrade projects.
• Budget adequately for technology over time.
• Raise awareness about the benefits of technology among CEOs.
• Help organizations plan for technology.

During a Generative Discussion, Commissioners and guests shared their questions and thoughts about how technology is changing at their organizations. Specifically, the Commissioners discussed:

• Interoperability.
• Health information exchange.
• Social engagement.
• Security and liability concerns. 
• Strategic IT planning.