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

Rape investigation blocked by nursing home's HIPAA concerns, authorities say ...

Florida authorities say a nursing home is citing privacy laws to impede the investigation of a possible resident rape, according to local news reports.

Jury hands down $14 million negligent care verdict to 'send message' to nursing homes

Jury hands down $14 million negligent care verdict ...

A Massachusetts jury has awarded $14 million to the family of a nursing home resident who died due to a pressure ulcer, dehydration and other conditions linked to negligent care, ...

CCRC executive director salaries hold steady, therapy directors get boost

Continuing care retirement community executive director salaries have barely increased in the past year, while therapy and rehabilitation directors received a boost, a new report shows. The average salary for a therapy and rehab director is currently $95,905.