The last year was big for Resident Rate Increases, and Anthem Memory Care CEO Isaac Scott thinks 2023 will be similar for one reason: expenses.

When labor and other expenses spiked last year and into 2022, many operators hoped such cost increases would be transitory in nature. And as the industry stands on the precipice of 2023, many operators still have not returned to pre-pandemic margins despite occupancy approaching early 2020 levels.