With specific regard to the past two decades, American nursing homes have faced increasing closures. 10% of rural-based nursing homes have been forced to close or merge with other facilities, from 1999-2019, and half of the hospital-based post-acute facilities have closed from 1999-2008. Excessive waste, overspending, and improper Medicaid reimbursements are credited to the recent failure of nursing homes, and the former solution of Group Purchasing seems to now be inapplicable.
More than half of Americans will need the help of long-term care at some point in their life, and more than 1 in 7 will need this assistance for more than five years. How can we slow the rate of American nursing home closures?
It begins with understanding the post-acute care ecosystem. Costs are rising, but the facilities are closing. In fact, the market for long-term care will meet a worth of $737 billion by 2026. To complete your understanding of the American post-acute system, continue reading below.
infographic by: primesourcehcs.com