Chief Executive Officer of Revera Inc., former President and CEO of
St. Michael’s Hospital in Toronto and recently appointed Member of the Order of Canada for innovative and sustained leadership in health-care management and patient care.
What recent development or research will have the greatest impact on aging and the retirement residence sector over the next five years?
Many things are changing quickly. At the scientific end, help for people with dementia and memory loss is going at full tilt.
Traditionally in the retirement residence sector, we have been competing with each other. Today, our biggest competition is “home.” People tend to want to stay where they’ve been living, and the government wants that too. What residences can provide is a community, and we need to think of ourselves as communities. I’ve toured over 100 sites since I came to Revera and I’ve come to realize seniors come with both social and physical needs, and we have to meet that as they age. Revera has found the average age of our retirement residents is higher than the average age of the people in our long-term care homes.
How is society’s concept of senior wellness changing?
I like the term “senior wellness”. Seniors don’t necessarily think of themselves as in ill health. They say, “I’m 85 and I’m in pretty good health.” We need to work with the entire individual. Our one-of-the-kind Revera program – Rev It Up – is designed to help seniors maintain an active lifestyle, addressing three key dimensions – physical fitness, nutritional health and brain fitness. We’re very pleased the University of Victoria in B.C. has chosen to work with us to research this model further.
What are we learning about boomer retirement plans or hopes as they age?
Some boomers are looking forward to retiring early and “just doing what I want.” But others say, “I’ll never retire.” We have to be careful about generalizing. Boomers’ responses are much more varied than anyone thought 10 years ago. Maybe boomers are better prepared for retirement than our parents were; we have more information. It’s a rich time of life.
What seniors’ housing industry direction gives you the most concern these days? What makes you the most optimistic about the future?
A concern: the notion of seven or eight years ago of people moving in and carrying on as though they were in their own homes is past. Marketing and service have to evolve. Service and privacy are now key.
Positives: I’ve seen how many passionate people there are at Revera, not about their building, but because they are providing a very important service to people.
Your advice for retirement residence executives as they plan for the next five years?
Recognize that in some parts of Canada there are more retirement homes than we are going to need, more development than demand. Think forward; decisions should not be based on present residents. For example, all new residences should be wireless.
About Muriel Duncan
