PPE and Virus Tests Still Lacking for Senior Living Communities

Argentum CEO James Balda participated in Yahoo Finance's On The Move panel discussion to address the future of senior living communities, noting that they are still significantly short of personal protective equipment (PPE) and testing for the coronavirus. Balda said Argentum is seeking $20 billion in federal funding for these communities, to offset the costs of PPE and testing. "COVID-19 has really forced providers to limit access to their buildings and restrict new move-ins," leading to "escalating increases in costs related to staffing and supplies," he noted. Concurrently, the communities' revenue is decreasing from the lack of new residents. Among the long-term post-pandemic changes Balda suggested may happen in the senior living industry are alterations in the physical structure of community buildings in terms of new development, which he expects will carry more benefits than in nursing communities. "You'll also see enhanced infection control protocols," he predicted.