Tender loving care: The rising elderly popluation in Ohio has contributed to steady revenue growth

The Nursing Care Facilities industry in Ohio has exhibited steady growth over the past five years. This growth has particularly been driven by the growing elderly population in the state because the vast majority of industry residents are over the age of 65. Additionally, demand has been supported by rising funding for Medicare, which has enabled more people to pay for nursing care services, as patients with Medicare are the largest market for industry services. However, despite rising demand for industry services, the Nursing Care Facilities industry in Ohio has consolidated over the past five years. With Medicare enrollment rising, industry profit margins have declined because government insurance carries low reimbursement rates and, therefore, yields low profit margins...purchase to read more.

Industry Statistics & Market Size
Revenue
$7bn
Annual Growth 13-18
2.2%
Forecast Growth 18-23
Profit
Employment
93,031
Businesses
918

Industry Threats & Opportunities

  • Industry revenue will primarily be driven by Ohio’s aging population
  • Industry Report - Industry Investment Chapter

    ***This section is not used for US State reports***...purchase to read more.

    Additional Insights for the Nursing Care Facilities in Ohio Industry

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

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    What's in this report

    What is the Nursing Care Facilities in Ohio 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 Ohio
  • Federal expenditure on disability benefits
  • Number of people with private health insurance in Ohio
  • Per capita disposable income in Ohio

  • Current Performance
    Industry Outlook
    Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Nursing Care Facilities in Ohio 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
  • Government nursing homes and skilled nursing facilities
  • Nonprofit nursing homes
  • Nonprofit skilled nursing facilities
  • Hospice centers
  • Chart: Nursing Care Facilities in Ohio Industry Products and Services Segmentation

  • Major Markets
  • Females aged 85 and older
  • Individuals aged 64 and younger
  • Females aged 75 to 84
  • Males aged 85 and older
  • 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 Ohio Industry

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

  • Basis of Competition
    Barriers to Entry
    Graceworks Lutheran Services, Menorah Park Center for Senior Living, Otterbein Senior Lifestyle Choices, St. Augustine Health Ministries, St. Luke Lutheran Community,
  • Table: Graceworks Lutheran Services - financial performance
  • Table: Menorah Park Center for Senior Living - financial performance
  • Table: Otterbein Senior Lifestyle Choices - financial performance
  • Table: St. Augustine Health Ministries - financial performance
  • Table: St. Luke Lutheran Community - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Nursing Care Facilities in Ohio 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 Ohio Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Number of adults aged 65 and older in Ohio (2009-2023)

  • 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.
  • 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 Nursing Care Facilities in Ohio 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 Ohio industry. Our five-year outlook forecasts explain how the market is set to change and the product segments that will drive growth.

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

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