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

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...read more.

Industry Statistics & Market Size
Revenue
$13bn
Annual Growth 12-17
2.7%
Forecast Growth 17-22
Profit
Employment
132,657
Businesses
1,256

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
  • Industry Report - Industry Key Buyers Chapter

    In line with national trends, the Nursing Care Facilities industry in New York is fragmented and highly competitive. The top four industry players are estimated to account for less than 20.0% of total industry revenue. Most nursing care facilities are single facilities that are privately owned and operated, servicing their local communities based on population needs. According to the US Census Bureau, 61.4% of nursing care facilities employ between 100 and 500 people, followed by 33.9% of facilities employing fewer than 100 people and 4.7% of facilities having more than 500 employees. Overall, relatively insignificant barriers to entry aside from regulations and the widespread distribution of nursing facilities contribute to the fragmented nature of the industry. Whi...purchase to read more.

    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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    What's in this report

    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

    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 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

  • 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
    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

  • A. Holly Patterson Extended Care Facility, Amsterdam Nursing Home, Our Lady of Consolation Geriatric Care Center, Ozanam Hall of Queens Nursing Home, Schulman and Schachne Institute for Nursing & Rehabilitation, Terence 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

  • 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
    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
    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 research report on Nursing Care Facilities in New York can be used to help you understand the industry’s market size, growth potential and major companies. Five-year forecasts provide insight into the industry’s prospects, so you can make decisions with confidence. This information is perfectly suited to informing your business plans, pitch books, benchmarking and SWOT analysis.

    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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