Overview

Growing pains: Despite increased demand, lower reimbursements may limit industry growth

IBISWorld’s Nursing Care Facilities in New York Industry Research Report offers insight into the market at the national level. Our analysis highlights macro trends in the overall sector and the micro trends faced by companies that do business in the Nursing Care Facilities in New York industry. Our five-year outlook forecasts explain how the market is set to change and the product segments that will drive growth.

REPORT SNAPSHOT

Industry Threats & Opportunities

  • Rising disposable income and expanded access to healthcare coverage have benefited the industry
  • Nursing care facilities derive majority of their revenue from Medicare and Medicaid payments
  • Rapidly changing regulations will continue to transform the industry’s landscape

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    Industry Analysis & Industry Trends

    Over the five years to 2017, the Nursing Care Facilities industry in New York is expected to grow due to the necessary nature of services provided by nursing care facilities. Additionally, the continued aging of the population has spurred demand for industry services. Over the five years to 2022, the industry is expected to continue expanding. The increasing age of the baby boomer generation will drive growth during the next five-year period. However, revenue growth will be partially offset by regulatory changes favoring at-home managed care in an effort to curtail ballooning healthcare spending, as well as continued reductions in Medicare and Medicaid reimbursements...

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    Industry Report - Industry Analysis Chapter

    The Nursing Care Facilities industry in New York has fared well over the five years to 2017. The necessary nature of nursing care, coupled with the growing population of aging New Yorkers, has spurred industry growth during the period. The industry has also benefited from improving economic conditions and the rising number of insured individuals. However, despite swelling demand, industry operators have experienced some headwinds primarily stemming from reimbursement cuts and changing regulations. As a result of these trends, IBISWorld projects the industry to grow at an annualized rate of 2.7% to $13.1 billion, displaying low volatility, from 2012 to 2017. Over

    2017, industry revenue is expected to increase 1.8%.

    ..

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    Additional Insights for the Nursing Care Facilities in New York Industry

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

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    Industry Products

    What is the Nursing Care Facilities in New York 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

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Federal funding for Medicare and Medicaid
  • Number of adults aged 65 and older in New York
  • F405 Number of people with private health insurance in New York
  • Per Capita Disposable Income in New York

  • Current Performance
  • Aging baby boomers
  • Changing regulatory environment
  • Industry landscape
  • Chart: Revenue Growth

  • Industry Outlook
  • Taking care of the elderly
  • Changing industry landscape
  • Table: Nursing Care Facilities in New York Industry Revenue Outlook

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

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

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

  • Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Other expenses
  • Chart: Cost Structure Benchmarking – Sector vs Nursing Care Facilities in New York

  • Basis of Competition
  • Internal competition
  • External competition

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

  • Major Companies
    A. Holly Patterson Extended Care FacilityAmsterdam Nursing HomeOur Lady of Consolation Geriatric Care CenterOzanam Hall of Queens Nursing HomeSchulman and Schachne Institute for Nursing & RehabilitationTerence Cardinal Cooke Health Care Center
  • Table: A. Holly Patterson Extended Care Facility - financial performance
  • Table: Amsterdam Nursing Home - financial performance
  • Table: Our Lady of Consolation Geriatric Care Center - financial performance
  • Table: Ozanam Hall of Queens Nursing Home - financial performance
  • Table: Schulman and Schachne Institute for Nursing & Rehabilitation - financial performance
  • Table: Terence Cardinal Cooke Health Care Center - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Nursing Care Facilities in New York Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

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

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

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    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.
  • Why buy this report?

    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 New York:
    • 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 New York 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 New York, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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