If they hope to be successful, operators must understand that senior living is a “problem business.”

That’s according to The Springs Living CEO Fee Stubblefield, who explained that residents frequently come to senior living communities because they are experiencing problems – for this reason, among others, there are “friction points” that are inevitable, and demand a particular mindset from operators.

Part of that mindset is taking a long-term and big-picture view, more like a farmer cultivating a field or orchard and less like an industrialist stamping out widgets.

“You have to play the long game,” Stubblefield said during a recent episode of the SHN Transform podcast. “You can’t control the uncontrollable; you have to ride the waves.”

He referenced the withdrawal of Walmart (NYSE: WMT) from the health care space as an example of a company with unlimited resources but perhaps the wrong mindset or expectations for this type of business.https://rehab2research.com/the-springs-living-ceo-operators-must-embrace-that-senior-living-is-a-problem-business/