Among all types of aged care institutions in the United States (independent living, assisted living, professional care), Skilled nursing facilities (SNF) accounted for the highest proportion of units, reaching 52%. The development of the professional nursing institution market is at the earliest benefit of its lower price than the hospital. The hospital will transfer the patients who do not have medical risks after the operation but still need professional care to the professional nursing institution to continue treatment, and the hospitalization price is lower than that of the hospital. Therefore, the payee is optimistic.
The payers of professional care institutions are mainly federal government insurance Medicare and Medicaid. Medicaid usually pays more than Medicare, which accounts for more than 80% of the payment. The proportion of personal payments is low, usually around 10% to 15%. The Federal Government's Medicare and Medicaid's governing body, CMS, pre-set the price of care expenses in various locations.
The market for professional nursing institutions is very fragmented and there are a large number of regional small institutions. In the second year of 2015, Genesis, the largest nursing organization operator in the United States, and Skilled Healthcare, another top ten nursing organization, merged to form a large nursing company with an annual income of more than 5.7 billion US dollars, but the market share is only about 5%. However, after the merger was completed, the company's share price continued to fall, falling from a minimum of nearly $9 to more than $2. The fall in its share price indirectly prompted the market's concerns about the market for professional care institutions and the doubts about whether the two companies could be effectively integrated after the merger.
Prior to the merger with Genesis, Skilled Healthcare's total revenue was around $800 million per year, but between 2012 and 2014, its total revenue changed slightly, between 1% and 1%. The reason is the decrease in the number of patients served and the shorter duration of the patient's average stay. The main reason behind this is the attitude of the payer. The payer encourages more economical home care services rather than institutional care services through reimbursement, while the payer also uses value-based medical payment methods to minimize the length of care service. .
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