U.S. Post-Acute Market Rebounds, Skilled Nursing Staffing Challenges to Improve after 2024 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "U.S. Post-Acute Market Report 2023" has been added to ResearchAndMarkets.com's offering.

The report highlights the efforts of post-acute facilities to endure post-pandemic economic pressures, technology innovations, and reimbursement changes. The U.S. post-acute market is projected to reach $245.3 billion in 2023, which is an 11% increase from $220.4 billion in 2022. The market is slowly recovering from the impact of the COVID-19 pandemic, which negatively affected skilled nursing facilities (SNFs), continuing care retirement communities (CCRCs), assisted living, and inpatient rehabilitation facilities (IRFs).

Key Report Findings:

1. Staffing Challenges: Staffing shortages continue to be the largest challenge across the post-acute market, 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 begin to improve after 2024.

2. Occupancy Levels: CCRC occupancy rates are recovering faster than those of other post-acute facilities. In the fourth quarter of 2022, the average occupancy rate at CCRCs was 87.2%, while other post-acute facilities' occupancy rates were 80.9%. SNF occupancy rates in 2023 have reached the highest level since 2020, with patient volumes increasing by 11% from January 2021 to January 2023.

3. Operating Margins: SNFs and assisted living communities continue to struggle with post-pandemic economic pressures. Skilled nursing facility profit margins are projected to continue declining until 2027, while 37% of assisted living communities were operating at a loss through 2022. Factors impacting post-acute operating margins in 2023 include occupancy, inflation, and labor costs.

4. Technology Investments: Thirty-eight percent of SNF professionals are investing in new technology in 2023. Advanced technology platforms are improving care coordination, clinical workflow, and communication among post-acute providers.

5. Medicare Changes: Medicare spending for SNFs and IRFs has increased in 2023, with Medicare now comprising 22.1% of the SNF payer mix, up from 21%. The Centers for Medicare & Medicaid Services (CMS) released the final fiscal year (FY) 2023 payment rule, which will increase Medicare Part A payments to SNFs by 2.7% compared to FY 2022.

The report covers various aspects of the post-acute market, including skilled nursing facilities, assisted living communities, continuing care retirement communities, and inpatient rehabilitation facilities. It provides valuable insights and data to help stakeholders understand the current market landscape and make informed decisions.

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/smt6s9

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