“AHCA/NCAL President Parkinson Shares Lessons Learned from China Visit,” by Patrick Connole, Provider
“In an exclusive interview, American Health Care Association/National Center for Assisted Living (AHCA/NCAL) President and Chief Executive Officer Mark Parkinson provides his thoughts from a recent four-day trip to China where he saw first-hand the development of new long term and post-acute care (LT/PAC) facilities there and took part in an industry conference. … Parkinson: There is definitely opportunity for long term care providers. This is due to not just the enormity of the population and the aging of the population, but it is also a very challenging market because the vast majority of the people in China do not have the resources to afford private-pay long term care, and there is limited government funding of long term care. So, there is opportunity there, but it is going to take folks who are very smart and strategic to figure out how to take advantage of it.”
LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
LTC providers in the USA see the potential in Genworth Financial’s purchase by China Oceanwide. China doesn’t have a program like Medicaid that pays for most LTC in the U.S. and crowds out private LTC insurance.