“Spending on nursing home, home healthcare growing fast”

“Spending on nursing home, home healthcare growing fast,” by Kathleen Steele Gaivin, McKnights Senior Living

“Nursing home care and home healthcare were two of the fastest-growing categories of healthcare spending in 2023, according to Altarum’s monthly Health Sector Economic Indicators brief, released Tuesday. Initial data show that national health spending overall grew by 6.2% for the year, whereas the gross domestic product grew by 6.3%. Personal healthcare spending grew by 7.7%. … Spending on home healthcare increased 10.7% in 2023, and spending on nursing home care increased by 9.8%, according to the report.”

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

Hmmm. Doesn’t look like “rebalancing” did much to cut LTC expenditures as we were promised. Both institutional and home care continue to shoot up. Maybe we should consider a different approach. To make sense of what ails LTC, read the Paragon Health Institute “Long-Term Care: The Problem” and “Long-Term Care: The Solution” and watch this “virtual LTC event” featuring age wave visionary Ken Dychtwald and leading LTC researchers.

Stephen A. Moses, President