Skilled nursing facility occupancy dropped to 81.7% — its lowest point in five years — in the second quarter of 2017, according to a report released Thursday by the National Investment Center for Seniors Housing & Care.
If current trends continue, occupancy rates in skilled nursing facilities could be headed to new lows this year, said analysts from the National Investment Center for Seniors Housing & Care.
Nursing home operators call it low occupancy. Medicare insiders call it a declining census. Economists call it excess capacity.
Senior living providers had a remarkably positive 2014, marked by record investments and acquisitions, growing occupancy rates and swelling demand, according to the annual analysis of the largest senior living providers by the Assisted Living Federation of America.
There are some tangible signs that things are getting better for the senior living sector, and probably for the overall economy as well.
The capital landscape for long-term care continues to rebound, which is good news for operators looking to expand in 2012 and beyond, analyst Michael Hargrave told McKnight's Online Expo participants Wednesday.
Assisted living facilities price per unit have gone up in the last year while prices per bed in skilled nursing facilities have declined slightly, according to a new report.
Second quarter occupancy rates in the seniors housing sector remained identical to a year ago - 88%. But rent growth showed a slight improvement, according to data released Wednesday by the National Investment Center for the Seniors Housing & Care Industry.