Tender loving care: Florida's aging population will sustain industry revenue growth

The five years to 2017 have presented the Nursing Care Facilities industry in Florida with opportunities for growth. This industry includes nursing homes, skilled nursing facilities and hospice centers. While Florida has historically had a large elderly population, the number of adults aged 65 and older in Florida is expected to rise rapidly over the five years to 2017, as more people reach retirement age and move south. Additionally, over the past five years, changes in the insurance sector have impacted the industry. The majority of industry revenue comes from payments from government sponsored insurance and federal funding for Medicare and Medicaid has risen rapidly over the past five years...purchase to read more.

Industry Statistics & Market Size
Annual Growth 12-17
Forecast Growth 17-22

Industry Threats & Opportunities

  • Florida’s growing elderly population will contribute to increasing revenue
  • Private insurance enrollment volatility has limited industry growth
  • The aging population will continue to drive industry revenue
  • Industry Report - Industry Key Buyers Chapter

    In Florida, the Nursing Care Facilities industry is characterized by a low level of market share concentration. The four largest operators in the state are expected to account for less than 10.0% of revenue in 2017, despite the fact that each of these companies operates a network of facilities throughout the state. This is consistent with the national industry. Most of the industry is made up of small independent facilities with fewer than 300 beds each. While the industry has moderate barriers to entry, expansion is also difficult. Florida's Certificate of Need program requires all industry expansion to be approved by the state. Additionally, quality care is crucial in this industry because nursing facilities are heavily reviewed and inspected. Com...purchase to read more.

    Additional Insights for the Nursing Care Facilities in Florida Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Nursing Care Facilities in Florida Industry are

  • Access to highly skilled workforce
  • Effective quality control
  • Proximity to key markets
  • IBISWorld analysts also discuss how external factors such as Federal funding for Medicare and Medicaid and Number of adults aged 65 and older in the Nursing Care Facilities in Florida industry impact industry performance..

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    What's in this report

    What is the Nursing Care Facilities in Florida Industry?

    This industry provides living quarters, inpatient nursing and rehabilitation services for people with a chronic illness or disability. The care is usually provided for an extended period to individuals who require help with day-to-day activities but do not need to be in a hospital.

    Industry Products
  • For-profit nursing homes
  • Nonprofit nursing homes
  • Government nursing homes and skilled nursing facilities
  • For-profit skilled nursing facilities
  • Nonprofit skilled nursing facilities
  • Hospice centers
  • Industry Activities
  • Operating convalescent homes or convalescent hospitals (except psychiatric)
  • Operating group homes with nursing care for the disabled
  • Operating homes with nursing care for the aged
  • Operating inpatient-care hospices
  • Operating nursing homes
  • Operating rest homes with nursing care
  • Operating retirement homes with nursing care
  • Operating skilled nursing facilities
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Federal funding for Medicare and Medicaid
  • Number of adults aged 65 and older
  • Federal expenditure on disability benefits
  • Number of people with private health insurance in Florida
  • Per capita disposable income in Florida

  • Current Performance
  • Retirement destination
  • Insurance
  • Industry structure
  • Chart: Revenue Growth

  • Industry Outlook
  • Aging population
  • Smaller markets
  • Industry structure
  • Table: Nursing Care Facilities in Florida Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Nursing Care Facilities in Florida Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Health & Welfare Funds
  • Primary Care Doctors
  • Specialist Doctors
  • Hospitals
  • Consumers

  • Key Selling Industries
  • Brand Name Pharmaceutical Manufacturing
  • Commercial Leasing
  • Drug, Cosmetic & Toiletry Wholesaling
  • Employment & Recruiting Agencies
  • Generic Pharmaceutical Manufacturing
  • Grocery Wholesaling
  • Medical Instrument & Supply Manufacturing
  • Medical Supplies Wholesaling

  • Products & Services
  • For-profit skilled nursing facilities
  • For-profit nursing homes
  • Nonprofit skilled nursing facilities
  • Nonprofit nursing homes
  • Government nursing homes and skilled nursing facilities
  • Hospice centers
  • Chart: Nursing Care Facilities in Florida Industry Products and Services Segmentation

  • Major Markets
  • Females aged 85 and older
  • Females aged 75 to 84
  • Males aged 85 and older
  • Individuals aged 64 and younger
  • Females aged 65 to 74
  • Males aged 75 to 84
  • Males aged 65 to 74
  • Chart: Major Market Segmentation for the Nursing Care Facilities in Florida Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Rent and utilities
  • Other expenses
  • Chart: Cost Structure Benchmarking – Sector vs Nursing Care Facilities in Florida

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Nursing Care Facilities in Florida Industry

  • HCR ManorCare, Genesis HealthCare Corporation, MorseLife Health System, Plaza Health Network, Victoria Nursing and Rehabilitation Center,
  • Table: HCR ManorCare - financial performance
  • Table: Genesis HealthCare Corporation - financial performance
  • Table: MorseLife Health System - financial performance
  • Table: Plaza Health Network - financial performance
  • Table: Victoria Nursing and Rehabilitation Center - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Nursing Care Facilities in Florida Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Nursing Care Facilities in Florida Industry
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Number of adults aged 65 and older in Florida (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Activities Of Daily Living (Adl)
  • Day-to-day tasks, such as preparing meals, shopping, managing money, taking medication and housekeeping.
  • Acuity
  • The measurement of the types of disorders, their severity and the intensity of the symptoms.
  • Home Healthcare
  • Medical and nursing services that are provided in a person's home by a licensed provider.
  • Hospice Care
  • Care and comfort provided to patients with a terminal illness and their families, which may include medical care, counseling and social services.
  • Long-Term Care
  • Care for a chronic condition, trauma or illness that limits a person's ability to carry out basic self-care tasks, called activities of daily living (ADLs).
  • Medicare And Medicaid
  • Cost coverage programs. Medicare pays all or part of a stay following hospitalization of at least three days; Medicaid covers a stay of any length for individuals who meet income requirements.
  • Respite Care
  • Temporary relief for caregivers, ranging from several hours to several days, which may be provided in home or in a residential care setting, such as an assisted-living facility or nursing home.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Industry Market Report on Nursing Care Facilities in Florida is a comprehensive guide to market size and growth prospects. Ensure due diligence in your research with our strategic analysis of the factors influencing companies, including new product developments; economic, lifestyle and demographic influences; distribution and supply chain factors; and pricing issues.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Nursing Care Facilities in Florida:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Nursing Care Facilities in Florida market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Nursing Care Facilities in Florida, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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