Nursing Home and Long Term Care Market
To understand the nursing home and long term care market in the United States, including the big players in this market, the total number of beds, the number of senior adults benefiting from nursing homes and long term care, how the market was evolving over the past few years, and how it will look like in the next few years.
Nursing Home and Long Term Care in the United States
- Long term care is provided in nursing homes, also known as extended care facilities (ECF) or long-term care centers.
- Nearly 18% of the elderly population in the United States will require more than a year in a nursing home.
- The annual spending on long-term care reached $275 billion. These expenditures are paid by Medicaid (47%), Medicare (23%), families out-of-pocket expenses (23%), veterans/state programs (4%), and private long-term care insurance (3%).
- The long care industry "has experienced steady growth from 2016 through 2018, and this is expected to continue through the forecast period. Aging of the population will increase demand for all forms of long-term care, although ongoing cost containment will continue to pressure the industry." 4
Number of Beds and Patients
Proposed next steps:
You need to be the project owner to select a next step.