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Long-Term Care Market Review 2006
Knowledge Source Inc., May 2006, Pages: 232
The demand for long-term healthcare services is being driven by the aging population, increased life expectancies and a decrease in the number of senior care facilities. According to the United States Census Bureau, in 2000, there were approximately 35 million Americans aged 65 or older, comprising approximately 13% of the total United States population. The number of Americans aged 65 or older is expected to climb to approximately 40 million by 2010 and to approximately 54 million by 2020. There are approximately 16,500 nursing homes with approximately 1.7 million total beds certified to provide Medicare and/or Medicaid services in the United States. On average, approximately 3.5 million people live in nursing homes during the course of a year. Furthermore, the Centers for Medicare and Medicaid Services predicts that government spending on nursing homes will grow from $106.6 billion in 2002 to approximately $194.6 billion in 2014, representing an annual growth rate of 5.1%. Despite this potential rise in demand for senior care, there has been a noticeable, decreasing trend in the number of certified nursing homes. According to the American Health Care Association, the number of nursing facilities has declined from 17,014 (1,708,500 beds) in 1999 to 16,032 (1,676,770 beds) in June 2005. The emergence of alternative assisted living facilities is perhaps the single greatest pressure facing skilled nursing care providers today. Knowledge Source's Long-Term Care Market Overview, 230 pgs in length, includes the Industry's Overview and Trends, as well as brief profiles of more than 30 leading industry participants.
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