Nursing homes show slowest revenue growth in LTC sector, report finds

Share this article:
Nursing homes had the weakest revenue growth in the long-term care sector in 2011 due to reliance on government funding, a new report reveals.

The long-term care industry as a whole — including assisted living, hospice, home healthcare and skilled nursing care — demonstrated revenue growth of 5.5% between 2006 and 2011, reaching $259 billion, according to a  report from Kalorama Information. The strongest performers in the LTC segment were hospice and home health.

Nursing home revenue growth was down due to state budget deficits and Medicaid cuts. According to the report, nursing home care was the largest single budget item in many states, accounting for an average of 22% of total budgets across the states.

Assisted living, however, appears poised for further growth, the report asserts.

"With the increased promotional efforts of assisted living and adult communities, norms are shifting and the stigma that was once associated with institutional living, though not gone, is eroding," Kalorama Publisher Bruce Carlson said.

Click here to purchase the report, titled “Long Term Care Market: Nursing Homes, Home Care, Hospice Care, and Assisted Living.”

Share this article:
close

Next Article in News

More in News

Bill addressing admission status receives praise

A bill that would require hospitals to give patients a formal notice of their admission status has received strong support from healthcare associations.

Increased 'bed taxes' on nursing facilities warrant stricter federal oversight, report states

States have been increasingly taxing skilled nursing facilities and other healthcare providers to fund Medicaid in recent years, and federal authorities should look more closely at this trend, according to a government report released Tuesday.

Last chance: Tech Awards deadline arrives

Last chance: Tech Awards deadline arrives

There are hours left for innovative long-term care providers to enter the third annual McKnight's Excellence in Technology Awards. Submissions will be accepted until the stroke of midnight tonight.