{"product_id":"the-2023-hida-post-acute-market-report","title":"The 2023 HIDA Post-Acute Market Report","description":"\u003cp\u003eThe 2023 HIDA Post-Acute Market Report\u003c\/p\u003e\n\n\u003cp\u003eMarket At-A-Glance\u003c\/p\u003e\n\n\u003cp\u003eThe U.S. post-acute market is projected to reach $245.3 billion in 2023, an 11% increase from $220.4 billion in 2022. The post-acute market is slowly bouncing back from the COVID-19 pandemic that negatively affected many skilled nursing facilities (SNFs), continuing care retirement communities (CCRCs), assisted living, and inpatient rehabilitation facilities (IRFs).\u003c\/p\u003e\n\n\n\n\u003cp\u003ePost-pandemic, 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. Despite the current state of staffing shortages, 43% of surveyed SNF professionals predict that skilled nursing staffing challenges will begin to improve after 2024.\u003c\/p\u003e\n\n\n\n\u003cp\u003ePost-Acute Facilities Experience Increases In Occupancy Levels\u003c\/p\u003e\n\n\u003cp\u003eCCRC occupancy rates are recovering faster than those of other post-acute facilities. In the fourth quarter of 2022, the average occupancy rates 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. Patient volumes in SNFs have increased 11% from 98,862 in January 2021 to 110,271 in January 2023.\u003c\/p\u003e\n\n\n\n\u003cp\u003eOperating Margins In SNFs And Assisted Living Communities Continue To\u003c\/p\u003e\n\n\u003cp\u003eStruggle Post-Pandemic\u003c\/p\u003e\n\n\u003cp\u003eSNFs and assisted living communities struggle to endure post-pandemic economic pressures. Skilled nursing facility profit margins are projected to continue to decline until 2027, while 37% of assisted living communities were operating at a loss through 2022. Key factors impacting post-acute operating margins in 2023 include occupancy, inflation, and labor costs.\u003c\/p\u003e\n\n\n\n\u003cp\u003eSNFs Are Prioritizing Advanced Technology Platforms In 2023\u003c\/p\u003e\n\n\u003cp\u003eThirty-eight percent of SNF professionals are investing in new technology in 2023. Advanced technology platforms are improving care coordination, clinical work flow, and communication among post-acute providers. In 2024, the top advanced technology platform that SNFs are planning to invest in is information and communication technology (ICT) infrastructure.\u003c\/p\u003e\n\n\n\n\u003cp\u003eMedicare Changes Positively Affect The Post-Acute Market\u003c\/p\u003e\n\n\u003cp\u003eMedicare spending for SNFs and IRFs have increased in 2023. Compared to 2022, Medicare is now 22.1% of the SNF payer mix, previously 21%. The Centers for Medicare \u0026amp; Medicaid Services (CMS) released the final fiscal year (FY) 2023 payment rule in which Medicare Part A payments to SNFs will increase by 2.7%, or $904 million, compared to FY 2022.\u003c\/p\u003e","brand":"Life Science","offers":[{"title":"July, 2023 \/ - \/ MCW16241799","offer_id":47658010411314,"sku":null,"price":3000.0,"currency_code":"USD","in_stock":true}],"url":"https:\/\/www.hardmanwell.com\/products\/the-2023-hida-post-acute-market-report","provider":"HARDMAN AND WELL MANAGEMENT CONSULTANCIES L.L.C","version":"1.0","type":"link"}