Elder Care Services

As Quoted In SaveSmart Finance

Home healthcare services will provide rapid growth since a greater number of the elderly wish to remain at home and regulatory changes will improve access to home-based care.

Revenues to rise 6.3% annually through 2018

The elder care service industry is comprised of skilled nursing facilities, home healthcare agencies, social services agencies, continuing care facilities, and assisted living facilities. Revenues for these elder care service providers are expected to grow 6.3 percent per year, to near $400 billion in 2018. Gains will be driven by demographic changes, in-cluding higher numbers of the “baby boom” generation entering their re-tirement years and longer life expectancies. Growth will be further fueled by modified federal regulations, par-ticularly regarding Medicare and Medicaid payments, which will allow for more flexibility in payment options and more service choices for patients.

As the prices of services are forecast to continue rising through the forecast period, revenue gains will benefit from increased payments per patient. However, growth will be restrained by a reduced pool of con-sumers able to afford the services if they are not covered by Medicare, Medicaid, or some other insurance platform. Efforts at the state and federal level aim to curb Medicare and Medicaid expenditures through reductions in reimbursements and other cost control measures. Still, the 2010 Patient Protection and Affordable Care Act has aided elder care services in that, among other things, it allows states to extend Medicaid eligibility and expand Medi-caid support for home and community-based elder care services.

Home healthcare services to provide fastest growth

In 2013, skilled nursing facilities accounted for the largest share of elder care service revenues with 42 percent of the total. However, home healthcare agencies are projected to see the fastest growth, accounting for 35 percent of total additional elder care revenues through 2018. Gains will be driven by the shift in preference among the older population to age at home, as well as by regulatory changes that improve access to home-based care. Social services will also see rapidly increasing demand with the growing availability of home- and community-based Medicaid waivers to pay for them.

Medicare, Medicaid to remain top sources of coverage, reimbursements

Government programs remain the leading payment source for the elder care service industry. Medicaid and Medicare combined to account for 58 percent of payments for elder care services in 2013. This dominance makes the elder care services indus-try highly reliant on and reactive to changes in coverage, reimbursement rates, or eligibility. Out-of-pocket expenditures continue to be essential for continuing care communities, assisted living facilities, and most social services, since many non-medical care costs are not covered by Medicare or Medicaid.

Study coverage

This Freedonia industry study, Elder Care Services, presents historical demand data (2003, 2008 and 2013) and forecasts (2018 and 2023) by product (e.g., skilled nursing care facilities, home healthcare services, social services, continuing care retirement communities, assisted living facilities), provider (for-profit, nonprofit), payment source (e.g., Medicaid, Medicare, out-of-pocket, private insurance) and US region. The study also considers market environment factors, details industry structure, evaluates company market share, and profiles 39 industry players, including Manor Care, Brookdale Senior Living, and Kindred Healthcare.

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  1. Elder Care Services

    $5,200.00

    1. 1 INTRODUCTION

      $99.00

    2. 2 EXECUTIVE SUMMARY

      $139.00

      1. Table | ELDER CARE SERVICE REVENUES

    3. 3 MARKET ENVIRONMENT

      $1,684.00

      1. 3.1 General

        $82.00

      2. 3.2 Demographic Trends

        $199.00

        1. Table | POPULATION & HOUSEHOLDS

      3. 3.3 Macroeconomic Outlook

        $214.00

        1. Table | MACROECONOMIC INDICATORS

      4. 3.4 Consumer Spending Trends

        $122.00

        1. Table | PERSONAL CONSUMPTION EXPENDITURES

      5. 3.5 Building Construction Trends

        $108.00

        1. Table | BUILDING CONSTRUCTION EXPENDITURES

      6. 3.6 Business Establishment Trends

        $125.00

        1. Table | BUSINESS ESTABLISHMENTS

      7. 3.7 Service Sector Outlook

        $149.00

        1. Table | SERVICES INCOME

      8. 3.8 Healthcare Trends

        $364.00

        1. 3.8.1 National Health Expenditures

          $182.00

          1. Table | NATIONAL HEALTH EXPENDITURES BY CATEGORY

        2. 3.8.2 Medical Conditions

          $167.00

          1. Table | CHRONIC CONDITIONS BY TYPE

          2. Table | ACUTE CONDITIONS BY TYPE

      9. 3.9 Regulatory Environment

        $180.00

      10. 3.10 World Markets

        $198.00

    4. 4 SERVICES

      $3,205.00

      1. 4.1 General

        $146.00

        1. Table | ELDER CARE SERVICE REVENUES BY SERVICE TYPE

        2. CHART III-1 ELDER CARE SERVICE REVENUES BY SERVICE TYPE, 2003-2013

      2. 4.2 Skilled Nursing Care Facilities

        $714.00

        1. 4.2.1 Overview

          $440.00

          1. Table | SKILLED NURSING OVERVIEW

        2. 4.2.2 Providers

          $102.00

          1. Table | SKILLED NURSING CARE REVENUES BY PROVIDER TYPE

        3. 4.2.3 Payment Sources

          $149.00

          1. Table | SKILLED NURSING REVENUES BY PAYMENT SOURCE

      3. 4.3 Home Healthcare Services

        $729.00

        1. 4.3.1 Overview

          $549.00

          1. Table | HOME HEALTHCARE SERVICE OVERVIEW

          2. Table | PERSONAL EMERGENCY RESPONSE SERVICE OVERVIEW

        2. 4.3.2 Providers

          $82.00

          1. Table | HOME HEALTHCARE REVENUES BY PROVIDER TYPE

        3. 4.3.3 Payment Sources

          $82.00

          1. Table | HOME HEALTHCARE REVENUES BY PAYMENT SOURCE

      4. 4.4 Social Services

        $716.00

        1. 4.4.1 Overview

          $554.00

          1. Table | SOCIAL SERVICES OVERVIEW

          2. CHART III-2 SOCIAL SERVICE CAREGIVERS, 2013

        2. 4.4.2 Providers

          $82.00

          1. Table | SOCIAL SERVICE REVENUES BY PROVIDER TYPE

        3. 4.4.3 Payment Sources

          $87.00

          1. Table | SOCIAL SERVICE REVENUES BY PAYMENT SOURCE

      5. 4.5 Continuing Care Retirement Communities

        $475.00

        1. 4.5.1 Overview

          $223.00

          1. Table | CONTINUING CARE COMMUNITIES OVERVIEW

        2. 4.5.2 Providers

          $120.00

          1. Table | CONTINUING CARE COMMUNITY REVENUES BY PROVIDER TYPE

        3. 4.5.3 Payment Sources

          $108.00

          1. Table | CONTINUING CARE COMMUNITY REVENUES BY PAYMENT SOURCE

      6. 4.6 Assisted Living Facilities

        $424.00

        1. 4.6.1 Overview

          $268.00

          1. Table | ASSISTED LIVING FACILITIES OVERVIEW

        2. 4.6.2 Providers

          $82.00

          1. Table | ASSISTED LIVING FACILITY REVENUES BY PROVIDER TYPE

        3. 4.6.3 Payment Sources

          $82.00

          1. Table | ASSISTED LIVING FACILITY REVENUES BY PAYMENT SOURCE

    5. 5 SERVICE PROVIDERS

      $465.00

      1. 5.1 General

        $98.00

        1. Table | ELDER CARE SERVICE REVENUES BY SERVICE PROVIDER

        2. CHART IV-1 ELDER CARE SERVICE REVENUES BY SERVICE PROVIDER, 2003-2023

      2. 5.2 For-Profit

        $203.00

        1. Table | FOR-PROFIT ELDER CARE SERVICE REVENUES BY SERVICE TYPE

      3. 5.3 Nonprofit

        $164.00

        1. Table | NONPROFIT ELDER CARE SERVICE REVENUES BY SERVICE TYPE

    6. 6 PAYMENT SOURCES

      $1,368.00

      1. 6.1 General

        $111.00

        1. Table | ELDER CARE SERVICE REVENUES BY PAYMENT SOURCE

        2. CHART V-1 ELDER CARE SERVICE REVENUES BY PAYMENT SOURCE, 2013

      2. 6.2 Medicaid

        $223.00

        1. 6.2.1 Overview

          $96.00

          1. Table | SELECTED MEDICAID STATISTICS, 2003-2013

        2. 6.2.2 Medicaid Payments for Elder Care Services

          $105.00

          1. Table | MEDICAID PAYMENTS FOR ELDER CARE SERVICES

          2. CHART V-2 MEDICAID PAYMENTS FOR ELDER CARE SERVICES, 2003-2023

      3. 6.3 Medicare

        $387.00

        1. 6.3.1 Overview

          $234.00

          1. Table | SELECTED MEDICARE STATISTICS, 2003-2013

        2. 6.3.2 Medicare Payments for Elder Care Services

          $127.00

          1. Table | MEDICARE PAYMENTS FOR ELDER CARE SERVICES

          2. CHART V-3 MEDICARE PAYMENTS FOR ELDER CARE SERVICES, 2013

      4. 6.4 Out-of-Pocket

        $177.00

        1. Table | OUT-OF-POCKET PAYMENTS FOR ELDER CARE SERVICES

        2. CHART V-4 OUT-OF-POCKET PAYMENTS FOR ELDER CARE SERVICES, 2013

      5. 6.5 Private Insurance

        $388.00

        1. 6.5.1 Overview

          $164.00

          1. Table | SELECTED PRIVATE INSURANCE STATISTICS, 2003-2013

        2. 6.5.2 Long-Term Care Insurance

          $96.00

        3. 6.5.3 Private Insurance Payments for Elder Care Services

          $104.00

          1. Table | PRIVATE INSURANCE PAYMENTS FOR ELDER CARE SERVICES

          2. CHART V-5 PRIVATE INSURANCE PAYMENTS FOR ELDER CARE SERVICES, 2013

      6. 6.6 Other

        $82.00

        1. Table | OTHER PAYMENT SOURCES FOR ELDER CARE SERVICES

        2. CHART V-6 OTHER PAYMENTS FOR ELDER CARE SERVICES, 2013

    7. 7 REGIONAL MARKETS

      $1,643.00

      1. 7.1 General

        $82.00

      2. 7.2 Regional Population Aged 65 & Over

        $87.00

        1. Table | RESIDENT POPULATION 65 YEARS & OVER BY REGION

      3. 7.3 Regional GDP

        $126.00

        1. Table | REGIONAL GROSS DOMESTIC PRODUCT

      4. 7.4 Elder Care Services by Region

        $1,408.00

        1. Table | ELDER CARE SERVICE REVENUES BY REGION

        2. CHART VI-1 ELDER CARE SERVICE REVENUES BY REGION, 2013

        3. 7.4.1 Northeast

          $274.00

          1. Table | NORTHEAST: ELDER CARE SERVICE REVENUES BY SOURCE & SUBREGION

          2. Table | NEW ENGLAND: ELDER CARE SERVICE REVENUES BY STATE

          3. Table | MIDDLE ATLANTIC: ELDER CARE SERVICE REVENUES BY STATE

        4. 7.4.2 Midwest

          $359.00

          1. Table | MIDWEST: ELDER CARE SERVICE REVENUES BY SOURCE & SUBREGION

          2. Table | EAST NORTH CENTRAL: ELDER CARE SERVICE REVENUES BY STATE

          3. Table | WEST NORTH CENTRAL: ELDER CARE SERVICE REVENUES BY STATE

        5. 7.4.3 South

          $443.00

          1. Table | SOUTH: ELDER CARE SERVICE REVENUES BY SOURCE & SUBREGION

          2. Table | SOUTH ATLANTIC: ELDER CARE SERVICE REVENUES BY STATE

          3. Table | EAST SOUTH CENTRAL: ELDER CARE SERVICE REVENUES BY STATE

          4. Table | WEST SOUTH CENTRAL: ELDER CARE SERVICE REVENUES BY STATE

        6. 7.4.4 West

          $275.00

          1. Table | WEST: ELDER CARE SERVICE REVENUES BY SOURCE & SUBREGION

          2. Table | MOUNTAIN: ELDER CARE SERVICE REVENUES BY STATE

          3. Table | PACIFIC: ELDER CARE SERVICE REVENUES BY STATE

    8. 8 INDUSTRY STRUCTURE

      $5,233.00

      1. 8.1 General

        $82.00

      2. 8.2 Industry Composition

        $154.00

        1. Table | ELDER CARE SERVICE REVENUES BY COMPANY, 2013

      3. 8.3 Market Share

        $300.00

        1. CHART VII-1 ELDER CARE SERVICE MARKET SHARE, 2013

      4. 8.4 Competitive Strategies

        $173.00

      5. 8.5 Marketing

        $118.00

      6. 8.6 Mergers & Acquisitions

        $292.00

        1. Table | SELECTED ACQUISITIONS & DIVESTITURES

      7. 8.7 Cooperative Agreements

        $82.00

        1. Table | SELECTED COOPERATIVE AGREEMENTS

      8. 8.8 Company Profiles

        $4,787.00

        1. 8.8.1 ADT Corporation

          $82.00

        2. 8.8.2 Adult Day Care Group

          $82.00

        3. 8.8.3 Amedisys Incorporated

          $147.00

        4. 8.8.4 Atria Senior Living Group Incorporated

          $82.00

        5. 8.8.5 Bayada Home Healthcare

          $93.00

        6. 8.8.6 Brookdale Senior Living Incorporated

          $350.00

        7. 8.8.7 Capital Senior Living Corporation

          $148.00

        8. 8.8.8 CareSouth Health System Incorporated

          $136.00

        9. 8.8.9 Catholic Health Initiatives

          $198.00

        10. 8.8.10 Chemed Corporation

          $84.00

        11. 8.8.11 Compassionate Care Hospice LLC

          $82.00

        12. 8.8.12 Covenant Care Incorporated

          $82.00

        13. 8.8.13 Diversicare Healthcare Services Incorporated

          $130.00

        14. 8.8.14 Encompass Home Health Incorporated

          $95.00

        15. 8.8.15 Enlivant

          $82.00

        16. 8.8.16 Evangelical Lutheran Good Samaritan Society

          $131.00

        17. 8.8.17 Extendicare Incorporated

          $95.00

        18. 8.8.18 Five Star Quality Care Incorporated

          $105.00

        19. 8.8.19 Genesis HealthCare Corporation

          $193.00

        20. 8.8.20 Gentiva Health Services Incorporated

          $172.00

        21. 8.8.21 GGNSC Holdings LLC

          $146.00

        22. 8.8.22 Griswold Home Care Incorporated

          $82.00

        23. 8.8.23 HCP Incorporated

          $165.00

        24. 8.8.24 Home Instead Incorporated

          $82.00

        25. 8.8.25 Interim HealthCare Incorporated

          $114.00

        26. 8.8.26 Intrepid USA Healthcare Services

          $82.00

        27. 8.8.27 Kindred Healthcare Incorporated

          $331.00

        28. 8.8.28 LCS LLC

          $159.00

        29. 8.8.29 Life Alert Emergency Response Incorporated

          $82.00

        30. 8.8.30 Life Care Centers of America

          $82.00

        31. 8.8.31 LivHOME Incorporated

          $82.00

        32. 8.8.32 Manor Care Incorporated

          $152.00

        33. 8.8.33 National HealthCare Corporation

          $184.00

        34. 8.8.34 Royal Philips NV

          $97.00

        35. 8.8.35 SavaSeniorCare LLC

          $82.00

        36. 8.8.36 Senior Care Centers of America Incorporated

          $104.00

        37. 8.8.37 Skilled Healthcare Group Incorporated

          $177.00

        38. 8.8.38 Sodexo

          $126.00

        39. 8.8.39 Sunrise Senior Living LLC

          $165.00

      9. 8.9 Other Elder Care Companies

        $82.00

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