Helping hand: The rising elderly population in Illinois continues to drive industry growth

The Nursing Care Facilities industry in Illinois has fared well over the five years to 2017. The increasing elderly population in Illinois has primarily driven industry growth, as senior adults are more prone to injuries and illnesses that require assistance with daily living. Rising disposable income and expanded access to health insurance coverage have also been a boon to industry growth during the five-year period. Meanwhile, over the five years to 2022, tightening regulations in regard to minimum wage and staffing ratio requirements will prompt industry operators to hire more workers and increase average wages for nursing home workers. As a result, industry operators will incur higher operating costs, which will place downward pressure on their profitability...read more.

Industry Statistics & Market Size
Revenue
$6bn
Annual Growth 12-17
3.3%
Forecast Growth 17-22
Profit
Employment
81,141
Businesses
1,242

Industry Threats & Opportunities

  • Industry operators have been diversifying their services by offering more specialized services
  • Changes in Medicare and Medicaid reimbursement rates generally have a notable effect on the industry
  • Swelling demand for nursing care services will encourage more players to tap into this industry
  • Industry Report - Starting a New Business Chapter

    The Nursing Care Facilities industry in Illinois has moderate barriers to entry, which primarily stem from federal and state regulations. Illinois remains one of the 34 states that have certificate-of-need (CON) programs in place. The Health Facilities Planning Act established Illinois's CON in 1974, granting the state government power to permit construction of a new hospital or nursing home. A CON is a legal document required in many states, including Illinois, to obtain permission for acquisitions, expansions and creations of medical facilities. In Illinois, the Health Facilities Planning Board issues permits for the construction and modification of medical facilities. To ...purchase to read more.

    Additional Insights for the Nursing Care Facilities in Illinois Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Nursing Care Facilities in Illinois 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 Illinois in the Nursing Care Facilities in Illinois industry impact industry performance..

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    What's in this report

    What is the Nursing Care Facilities in Illinois Industry?

    This industry provides living quarters, inpatient nursing care and rehabilitation services for people with chronic illnesses or disabilities. 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 in Illinois
  • Number of people with private health insurance in Illinois
  • Per Capita Disposable Income in Illinois

  • Current Performance
  • Capitalizing on the aging population
  • Changing industry landscape
  • Industry hurdles
  • Chart: Revenue Growth

  • Industry Outlook
  • Caring for the elderly
  • Aging in place
  • Adjusting for new changes
  • Table: Nursing Care Facilities in Illinois Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Nursing Care Facilities in Illinois 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 Illinois Industry Products and Services Segmentation

  • Major Markets
  • Individuals aged 85 to 94
  • Individuals aged 75 to 84
  • Individuals aged 31 to 64
  • Individuals aged 65 to 74
  • Individuals aged 95 and older
  • Individuals aged 22 to 30
  • Individuals aged 21 and younger
  • Chart: Major Market Segmentation for the Nursing Care Facilities in Illinois Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitWagesPurchasesOther expenses
  • Chart: Cost Structure Benchmarking – Sector vs Nursing Care Facilities in Illinois

  • Basis of Competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Nursing Care Facilities in Illinois Industry

  • Bria Health Services, Genesis HealthCare Corporation, HCR ManorCare, Kindred Healthcare Inc., The Alden Network,
  • Table: Bria Health Services - financial performance
  • Table: Genesis HealthCare Corporation - financial performance
  • Table: HCR ManorCare - financial performance
  • Table: Kindred Healthcare Inc. - financial performance
  • Table: The Alden Network - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Nursing Care Facilities in Illinois 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 Illinois Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Number of senior adults - 65 years and older (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?

    The Nursing Care Facilities in Illinois industry market report contains strategic analysis of the key drivers influencing the industry. Save hours of time on research and prospecting using IBISWorld’s standardized, up-to-date reports on thousands of industries. Our industry research provides growth and profit forecasts for a five-year outlook period, presented in a clear and user-friendly format.

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    This report on Nursing Care Facilities in Illinois:
    • 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 Illinois 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 Illinois, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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