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Published by: Packaged Facts
Published: Mar. 1, 1997 - 105 Pages Now 50% off the original sale price of $2,750.
Table of Contents
- Executive Summary
The Services
- Market Definition
- Sprung from a Gap in Care
- Small Facilities with Mostly Private Units
- Units Declining in Size, Amenities
- A Range of Rates and Plans
- Two Basic Models
- Three Basic Types of Service
- Figure 1-1: Growth of Assisted Living Revenues, 1992-2001 (dollars)
The Market
- A $15 Billion Industry
- A Range of Finance Approaches
- Factors Quite Favorable
- Market to Reach Almost $33 Billion in 2001
The Marketers
- About 4,000 Players
- A Variety of Fields Represented
- Leaders Account for Little Market Share
- ARV, Emeritus, and Marriott the Leaders
- Competition for Properties, Not Customers
- A Region-by-Region Patchwork
- Market Trends Emerging
- Little Advertising or Promotion
The Consumer
- Two Basic Groups
- Elderly But Not Old-Old
- Three Watershed Disabilities
- Thrifty Yet Dependent
- Decision-Makers Torn
- Residents Like to Stay Close to Home
- Table 1-1: Reasons for Discharge from ALF (percent): Require
Nursing Home, Death, Hospital Stay, Move to Children's or
Relative's Home, Move to Another ALF, Move for Financial
Reasons, Move to Retirement Home, Other
Scope and Methodology
- Market Parameters
- Methodology
- The Services
The Services
- Assisted Living Defined
- Two Basic Models: Social and Medical
- From Social to Medical Model
ALFs in Context
- Started in Scandinavia
- Sprung from a Gap in Care
- Aging in Place
- Part of the Eldercare Continuum
- CCRCs Are Full Spectrum
ALF Characteristics
- The ALFA Overviews
- Facilities Growing in Size
- Table 2-1: Size of Assisted Living Facilities, 1993 vs. 1996
(number and percent)
- Private Units the Most Popular
- Table 2-2: ALF Units by Type (percent): Private, Non-Private
Units Range in Size
- Table 2-3: Average Size of ALF Units by Type, 1996 (sq. ft.):
Private; Semi-Private
- A Decline in Unit Size
- Table 2-4: Size of ALF Units, 1993 vs. 1996 (sq. ft.):
Private and Semi-Private
- Methodology for Private Unit Estimates
- The Common Space Conundrum
- Bathroom Amenities Are the Most Common
- Table 2-5: Share of ALF Units: By Type of Amenity, 1996
(percent): Private Toilet, Private Shower, Refrigerator in
Room, Sink in Room, Private Bath Tub, Stove in Room
- A Range of Rates and Plans
- Prices on the Rise
- Table 2-6: ALF Pricing Characteristics, 1993 vs. 1996 (dollars):
Private, Semi-Private, Housing Sector CPI
- Occupancy Near Capacity
ALF Services
- Three Types of Service
- Unbundling Optional Services from Basic Rate
- Table 2-7: ALF Services and Fees, 1993 vs. 1996
Medication Management Key
- Table 2-8: ALF Medication Management Practices,
1993 vs. 1996 (percent)
- Respite Care a Growing Alternative
- The Market
- Figure 3-1: U.S. Assisted Living Facilities Market Revenues,
1992-1996 (dollars)
Market Size and Growth
- $15 Billion a Good Working Estimate
- Table 3-1: ALF Market Volume, 1992-1996 (dollars)
12,100 Facilities, 700,000 Units, 740,000 Residents
- Table 3-2: U.S. ALF Market Size and Growth, 1995-1996
(dollars, number, and percent)
- Methodology: ALF Market Estimates
- Methodology: Revenue Size and Growth
- Methodology: Facilities, Units, Beds, Residents
- Figure 3-2: Assisted Living Facilities Financing Sources, 1995
(percent): 8 Sources
Market Composition
- Banks the Leading Financial Source
- Table 3-3: ALF Financing Sources, 1995 (percent): 8 Sources
Development Much More Expensive Than Acquisition
- Northeast the Most Expensive to Develop
- Facilities Largest in Northeast
- Table 3-4: Average Size of ALFs by Region, 1996
(sq. ft. and number): U.S., Northeast, Southeast, Midwest, West
Units Largest in West
- Table 3-5: Average Size of ALF Units by Region, 1996 (sq. ft.):
U.S., Northeast, Southeast, Midwest, West
- Midwest the Most Private
- Table 3-6: Share of ALF Units by Region: Private vs.
Non-Private, 1996 (percent): U.S., Northeast, Southeast,
Midwest, West
- Midwest ALFs Boast Largest Common Space
- Unit Amenities Vary Widely by Region
- Table 3-7: Share of ALF Units with Amenity by Region, 1996
(percent): U.S., Northeast, Southeast, Midwest, West
Medication Management Heaviest in Midwest
- Table 3-8: ALF Medication Management by Region, 1996
(percent): U.S., Northeast, Southeast, Midwest, West
Medical Models Earn More
Factors Affecting Market Growth
- The Best Investment in Seniors Housing
- Table 3-9: Median Return on Equity and Investment for Assisted
Living, Congregate Care, and Continuing Care Retirement
- Community Units, 1996 (percent): Median Return on Equity
- and Investment
- ALFs the Low-Cost Provider
- Outdoing Nursing Homes
- Figure 3-3: Decline in Nursing Beds, 1976-2000 (number)
- Better Image Than Nursing Homes
- Higher Margins than Nursing Homes
- Less Regulated Than Nursing Homes
- The Medicaid Reimbursement Conundrum: I
- The Medicaid Reimbursement Conundrum: II
- Fear of Repeating Eighties' Mistakes
- The Threat of Regulation
- Bankable Demographics
- Table 3-10: Projected Growth in 85+ Population vs. Total
Population, 1996-2010 (number and percent)
- Affluent Elderly on the Rise
- Figure 3-4: Projected U.S. Assisted Living Facilities Market
Revenues, 1996-2001 (dollars)
Market Projections
- Booming Along
- Table 3-11: Projected U.S. ALF Market Revenues (dollars)
- The Marketers
The Marketers
- About 4,000 Players
- Methodology: Number of ALF Players
- A For-Profit Environment
- Publicly Held Players Gaining
- A Leaderless Marketplace
- Top Tier's Share Minuscule But Growing
- Top Tier an Even Mix of Specialists and Conglomerates
- ARV, Emeritus, and Sunrise the Leading Specialists
- Marriott, Sun, and Manor Care the Leading Conglomerates
- Table 4-1: Ranking of Leading ALF Marketers and Lines, and
Recent Corporate Developments, 1996
Competitive Situation
- Competitors Coming from All Angles
- Competition for Properties
- A Region-by-Region Patchwork
- Table 4-2: Prospects for Senior Housing Development by Region,
1994-1999 (percent): Northeast, Southeast, North Central,
South Central, West
- Each State Its Own Competitive Arena
- The CONs Problem
- A Range of Operating Regulations
- Medicaid Waivers a Major Issue
- Florida Loosens Up
- New York Begins to Get with the Program
- New Jersey Poised to Reform
- Oregon Still Leads the Way
Competitive Profile: ARV Assisted Living, Inc.
- Heading for $80 Million in 1997
- $100 Million IPO in 1995
- On a Buying Spree
- Low Occupancy Figures
- No Brand Identity
Competitive Profile: Emeritus Corporation
- $68.9 Million in 1996
- Born of Success
- A Synergistic Game Plan
- Management Shuffle
Competitive Profile: Marriott Senior Living Services
- Small Part of a $10 Billion Company
- Table 4-3: Marriott Senior Living Services Facilities by Type,
March 1997 (number and percent): Mixed Retirement
- Communities, Assisted Living, Total Eldercare Facilities
- The Brighton Gardens Vision
- Develops, Then Sells
- Acquires Forum Group in 1996
- Forum's Basic Lines
Competitive Profile: Sunrise Assisted Living, Inc.
- $47 Million in 1996
- An ALF Pioneer
- Privately Held Until 1996
- The 1996 IPO
- Two Basic Lines: Sunrise and Victorian Manor
Competitive Profile: Manor Care, Inc.
- Over $1.2 Billion in 1996
- Nursing Care Is King
- Assisted Living a Natural Extension
- ALF Business Tiny But Growing
- Two Basic ALF Lines: Arden Court and Springhouse
Competitive Profile: Sun Healthcare Group
- A New Player
- Retirement Care Associates
Competitive Profile: Alternative Living Services, Inc.
- $39.7 Million in 1996
- Four Major Lines
Competitive Profile: Atria Communities, Inc.
- $51.8 Million in 1996
- Affiliated with Vencor, Inc.
- Merges with American ElderServe
Competitive Profile: Kapson Senior Quarters Corporation
- $23.6 Million in 1996
- High-End, Inclusive Fee
- Moves Beyond the Northeast
Competitive Profile: Beverly Enterprises, Inc.
- Nearly $3.3 Billion in 1996
- A Leader by Some Measures
Competitive Profile: Assisted Living Concepts, Inc.
- Revenues of $18.9 Million in 1996
- Modest, Small-Town Style
Marketing Trends
- Market Segmentation by Price Point
- Market Segmentation by Type of Ailment
- Family Members Provide Most Referrals
- Media Advertising Becoming a Factor
- Table 4-4: Source of ALF Referrals, 1993 vs. 1996 (percent):
Healthcare Establishment, Family Members, Yellow Pages,
Residents, Drive-by the Facility, Area Agencies on Aging,
Trustee/Family Legal Advisor, Churches, Other Sources
- Advertising Heaviest in Northeast
- Table 4-5: ALF Referrals by Region, 1996 (percent): Healthcare
Establishment, Family Members, Yellow Pages, Residents,
Drive-by the Facility, Area Agencies on Aging, Trustee/Family
Legal Advisor, Churches, Other Sources
- Pre-Renting the Marketing Goal
- The Consumer
The Consumer
- Two Basic Groups
- A Culture of Women
- Elderly But Not Old-Old
- Three Watershed Disabilities
- Residents Require Assistance with Three ADLs
- Table 5-1: ALF Residents Needing Help with ADLs (percent):
Medication Dispensing, Bathing, Medication Reminders, Dressing,
Toileting, Eating
- Depression Era Babies: Frugal But Dependent
- Modest But Growing Means
- Decision-Makers from a Forgotten Generation
- Concerned and Frustrated
- Residents Like to Stay Close to Home
- Residents Anticipate Staying Longer
- Figure 5-1: Reasons for Discharge from Assisted Living Facilities
(percent): 8 Reasons
Appendix I: The Assisted Living Today 1996
Annual Largest Provider Survey
Appendix II: Addresses Of Leading Marketers
And Trade Associations
AbstractThe $15-billion market for assisted living facilities (ALFs) is one of the fastest growing and most profitable in the United States today. The Packaged Facts report profiles major competitors, and provides an in-depth assessment of the ALF market, including estimates and forecasts of revenues and resident populations, trends driving the market, demographic and psychographic profiles of ALF residents, and much more. Individual sections are available.
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