“Assisted living comes in second to skilled nursing in housing the elderly outside of traditional homes, according to the latest ‘SK&A U.S. Elder Care Market Summary.’ Skilled nursing centers represent 67% of the market, whereas assisted living has 16% of the market, according to the report. The SK&A report lists assisted living separately from personal care and board-and-care facilities, each of which it said represents approximately 1% of the market.”
LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
Very interesting data. Medicaid now spends more than half of its LTC expenditures on home and community-based care (HCBC). But once people need institutional care, nursing homes still heavily dominate the market. One worry about the decades-long push toward HCBC has always been that while it appears to save money in the short run it increases total costs over the long run by only delaying and not replacing institutional care.
Assisted living is 16% of elder housing market: report