DUBLIN, Aug. 9, 2023 /PRNewswire/ -- The "U.S. Post-Acute Market Report 2023" has been added to ResearchAndMarkets.com's offering.
This report provides valuable insights into the U.S. post-acute market, highlighting key trends and growth opportunities for industry participants.
Projected Growth and Market Overview:
The U.S. post-acute market is expected to grow from $245 billion in 2023 to over $350 billion by 2030. The market has shown a slow bounce back from the impact of the COVID-19 pandemic that affected skilled nursing facilities (SNFs), continuing care retirement communities (CCRCs), assisted living, and inpatient rehabilitation facilities (IRFs). Despite challenges, the market is experiencing an increase in occupancy levels, reimbursement, and patient volumes.
Staffing Challenges and Technology Adoption:
One of the largest challenges across the post-acute market is staffing shortages, with a 13% decrease in nursing home employees between February 2020 and December 2022. However, 43% of surveyed SNF professionals predict that skilled nursing staffing challenges will start to improve after 2024. Post-acute facilities are also prioritizing advanced technology platforms in 2023 to enhance care coordination, clinical workflow, and communication among providers.
Occupancy Rates and Operating Margins:
CCRC occupancy rates are recovering faster than other post-acute facilities, reaching 91.5% in the fourth quarter of 2022. SNF occupancy rates have also increased to the highest level since 2020, with patient volumes rising by 11% from January 2021 to January 2023. However, SNFs and assisted living communities continue to struggle with operating margins post-pandemic, with projected declines in SNF profit margins until 2027.
Medicare Changes and Impact on the Market:
Medicare spending for SNFs and IRFs has increased in 2023, and Medicare is now 22.1% of the SNF payer mix. The Centers for Medicare & Medicaid Services (CMS) released the final fiscal year (FY) 2023 payment rule, resulting in a 2.7% increase in Medicare Part A payments to SNFs compared to FY 2022.
Future Growth and Opportunities:
The U.S. post-acute market presents numerous opportunities for growth, including investments in new technology, occupancy growth predictions, expansion of nursing home facilities, and growth in the memory care market. Advanced technology, such as information and communication technology (ICT) infrastructure, is a top investment priority for SNFs in 2024.
Key Topics Covered:
- Post-Acute Market Overview
- Skilled Nursing Profit Margins Continue To Decline
- Skilled Nursing Leaders Expect Occupancy Growth Despite Staffing Challenges
- Nursing Home Facility Growth Expected Through 2027
- Advanced Technology Is a Top Skilled Nursing Investment Priority
- Staffing Shortages Are Skilled Nursing Facilities' Greatest Challenge In 2023
- Skilled Nursing Managed Medicare Payments Increase
- Reimbursement Changes That Impact Skilled Nursing Facilities In 2023
- Post-Acute Provider Flexibilities Reversed As COVID-19 Public Health Emergency Ends
- Skilled Nursing Facility Residents By The Numbers
- Price Of Nursing Home Rooms Increases Post-Pandemic.
- Number Of Nursing Home Compliance Deficiencies Remain Above Pre-Pandemic Levels
- Medicare Spending On Inpatient Rehabilitation Facilities Increases
- Assisted Living Operating Margins And Occupancy Rates Below Pre-Pandemic Levels
- Assisted Living Market Value Up 14% From 2021
- Assisted Living Facilities Experience Continued Worker Shortages
- Memory Care Market Expected To Grow Nearly 50% By 2030
- Continuing Care Retirement Community Occupancy Recovers Faster Than Other Post-Acute Facilities
- Clarivate Lists Top Post-Acute Products Sold Through Distribution
For more information about this report visit https://www.researchandmarkets.com/r/gv5ve5
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg
SOURCE Research and Markets
Share this article