Survey: Top 10 nonprofit providers continue to cut number skilled nursing beds, facilities
The nation's largest not-for-profit senior living organizations appear to be moving away from skilled nursing offerings while increasing assisted living and independent living units, according to a newly released report.The 2007 report by the American Association of Homes and Services for the Aging and Ziegler Capital Markets Group indicates that the year 2006 meant adjusting and repositioning for most of the so-called AZ 100. As of year-end 2006 the nation's largest nonprofit senior living providers reported a total of 185,837 units, up 2.6% (or approximately 4,800 units) from the end of 2005. The addition of CCRCs, independent living facilities and assisted living facilities has been the primary driver of growth, report authors said.
The AZ 100 systems have divested or reduced the number of nursing home facilities in their portfolios over the last four years, the report notes.
A copy of the report is available at www.zieglerseniorlivingfinance.com.