Nursing Care Facilities in Florida
The five years to 2017 have presented the Nursing Care Facilities industry in Florida with opportunities for growth. This industry includes nursing homes, skilled nursing facilities and hospice centers. While Florida has historically had a large elderly population, the number of adults aged 65 and older in Florida is expected to rise rapidly over the five years to 2017, as more people reach retirement age and move south. Additionally, over the past five years, changes in the insurance sector have impacted the industry. The majority of industry revenue comes from payments from government sponsored insurance and federal funding for Medicare and Medicaid has risen rapidly over the past five years. Despite declines in private insurance enrollment, industry revenue is projected to rise faster over the next five years. This growth will mainly be driven by further growth in the number of people aged 65 and older in Florida. Additionally, over the next five years, disposable income in the state is anticipated to rise, allowing more people to choose more expensive nursing facilities.
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.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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