$258 billion industry

Study:  Long term care industry to get boost from increasing life expectancy

Healthcare Finance NewsDay, April 18, 2011

 With the life expectancy of Americans now over 78 years, demand for long term care facilities is strong and future prospects continue to look positive for services such as assisted living, nursing homes and home care, according to Kalorama Information’s new report.  Kalorama estimated the long-term care market in the U.S. to be $258 billion in 2010.

 Study:  Next generation of seniors isn’t ready to shoulder healthcare costs

Healthcare Finance NewsDay, April 19, 2011

 Studies have shown that many Baby Boomers don’t have enough in savings to sustain them at the level of living they expect or to withstand long-term illness or health catastrophes.  The picture hasn’t changed much for the next generation – those who are 45 now – according to a study by the Urban Institute and the Kaiser Family Foundation.

 Quote of the Day

AIS’s Health Business Daily, April 20, 2011

 “I think the most important question that we have here is how aggressively CMS allows [Accountable Care Organizations] to use the tools traditionally used by managed care: utilization management, cost control.  Everybody focuses on reducing costs without anything controversial, but at the end of the day, they have to do this…by aggressively managing patients…and the question is the amount of flexibility [ACOs will have].”

— Dan Mendelson, CEO of Avalere Health, told AIS’s Health Reform Week.

 Today’s Datapoint

AIS’s Health Business Daily, April 20, 2011

 $1 billion…could be gained by AARP over the next 10 years as a result of the AARP-supported health reform law that could drive a large migration of seniors to Medigap plans, of which AARP is a leading provider, according to a new report by three GOP members of the House Ways and Means Committee.

 What Happens to Current Nursing Home Residents if the House Budget Resolution Becomes Law? (excerpt)

The Center for Medicare Advocacy, April 21, 2011

 A study of the costs of nursing home care, release April 21, 2011 by John Hancock Financial, reports, “the national average annual cost of care in the U.S. is $85,775 for a private room in a nursing home; $75,555 for a semi-private room in a nursing home.[1]

 AARP estimated the value of unpaid caregiving at $350 billion in 2006.[4]  The Kaiser Family Foundation reported in 2009 that “Direct out-of-pocket care spending by individuals and families accounts for 22 percent” of the $178 billion spent on nursing home care – more than $39 billion.[5]

 [1] John Hancock, “John Hancock Announces Results of 2011 National Long-Term Care (LTC) Cost Study” (April 21, 2011).  Website link

 [4] AARP Public Policy Institute, “Valuing the Invaluable: A New Look at the Economic Value of Family Caregiving,”   Website link

 [5] Kaiser Family Foundation, “Medicaid and Long-Term Care Services and Supports” (Feb. 2009), Website link

UPCOMING EVENTS

 July 11-12, 2011

Eighth Annual Healthcare Unbound Conference & Exhibition

Contact:

http://tcbi.org/index.php?conference=hu2011

 July 13-15, 2011

Financial Management Conference

Contact: www.nahc.org

 July 17-24, 2011

Owner/Administrator Forum

Western Mediterranean Cruise

Contact: www.medicareconsulting.net

 July 20-22, 2011

HHA & Hospice Seminars

http://www.dixonhealthcaresolutions.com/

  July 25-27, 2011

Gulf Coast Home Care Conference

Contact: www.homecarealabama.org

 August 2-5, 2011

Owner/Adminstator Seminar

http://www.medicareconsulting.net/

 August, 10-12, 2011

Remington’s National Summit

Contact:  www.remingtonreport.com

 October 1-5, 2011

NAHC Annual Conference

Contact:  www.nahc.org

 October 1, 2011

SHP Strategic Forum

www.shpdata.com

 October 6-7, 2011

HFS User Meeting

Contact:  www.hfssoft.com

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About Boyd & Nicholas
Boyd & Nicholas — THE COST REPORT PEOPLE® The nation’s leading cost report preparation firm, Tom Boyd and Tom Nicholas are THE COST REPORT PEOPLE®. Specializing in home health and hospice, Boyd & Nicholas have earned an impeccable reputation for service, expertise and integrity delivered with professionalism and personality. At a time when cost reports are defining the very future of home health Medicare reimbursement, trust THE COST REPORT PEOPLE® with your submission and experience the difference! (877) 424-6527. www.boydandnicholas.com

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