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 Survey: Cost Of SNF Care Creeps Up

​The Genworth 2011 Cost of Care Survey for long term care service providers shows a six-year trend for increasingly higher costs for facility-based care continuing amid a competing trend of higher-acuity residents in such settings.

The latest measure reflects much of the same trend that began in 2005, the Waltham, Mass.-based financial security firm reported.

For example, in 2005, the median annual rate for a private nursing facility room was

$60,225, compared with the 2011 median annual rate of $77,745.

“This means that Americans can expect to pay approximately $17,520 more per year today for a nursing home than they had to pay in 2005. This increase represents a 4.35 percent compound annual growth rate over that period,” the report said.

Within the facility-based sector of long term care, Genworth found the following rates:

  • Assisted living facility one bedroom/single occupancy had a national median monthly rate of $3,261 for 2011, a 2.39 percent increase from 2010 and a six-year annual growth of 5.99 percent. (This six-year percentage increase represents the compound annual inflation rate for surveys conducted from 2005 to 2011.)
  • Nursing facility semi-private rooms had a national median daily rate of $193, a 5.7 percent increase from 2010, and a 4.52 percent six-year annual growth.
  • Nursing facility private room rates were $213 per day, a 5.1 percent rise from 2010, and a 4.35 percent increase over the 2005-2011 period.

Genworth noted the trend in pricing among assisted living facilities had changed considerably over the past decade, with providers accounting for a broader range of service offerings.

“Over the last decade, assisted living facilities have continued to adapt to the wide range of care needs presented by our growing elder population. Many facilities now provide services to residents who need continual care or supervision, while still providing a lower level of care to healthier individuals,” the report said.

The survey findings also showed home care service providers reporting steady rates, compared with 2010.
The homemaker services, home health aide services, and adult day care services sectors all saw flat year-on-year results. These areas do not provide the type of 24-hour medical and nursing care facilities do, the report noted.

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