New Skilled Nursing News Outlook Report Shows 56% of Providers Anticipate Increased Long-Term Care Occupancy in 2023
Results reveal occupancy enthusiasm for 2023, a focus on holding assets, and tough days ahead for recruitment and retention.
CHICAGO, Feb. 13, 2023 /PRNewswire-PRWeb/ -- Skilled Nursing News, an Aging Media publication, has released the results of its 2023 Skilled Nursing Outlook Survey, identifying the top challenges and opportunities in the year ahead for providers of skilled care and post-acute rehab. Participants expressed knowledge of the tough road ahead in staffing, countered by optimism over increased occupancy rates.
Asked to describe the occupancy outlook for 2023, more than half of respondents predicted an occupancy rate increase in long-term care (56%) as well as in skilled nursing and post-acute rehab (53%). But staffing remains a challenge: respondents identified recruitment/retention as the clear-cut greatest challenge the industry faces this year (53%). To help them provide great care and overcome the staffing shortage, 38% of respondents will invest in technology while 34% will deepen their relationships with ACOs.
Skilled Nursing News conducted the survey in partnership with EHR provider Net Health to learn how providers are tackling today's most pressing problems. The results show the views of 272 professionals who identify as working for organizations that provide skilled nursing, painting a picture of an industry working diligently to get out from behind the eight ball.
Survey results provide perspective and context around the industry's outlook in staffing, occupancy, technology and M&A.
In summary, respondents indicated:
- Occupancy optimism for 2023 — 53% of respondents believe that occupancy rates for skilled nursing and post-acute rehab will rise in 2023, with 56% of respondents predicting a rise in occupancy rates for long-term care residents.
- A deep focus on organic growth — 54% of qualified respondents indicated their organization plans to hold skilled nursing assets in 2023, and 53% are seeking financing from banks and finance companies over other sources.
- Tough days for staffing continue — More than half of survey respondents believe recruitment and retention will be skilled nursing's greatest challenge in 2023, with 43% believing hiring will not improve until 2024 or later.
"No health care sector was hit harder by the pandemic than skilled nursing and post-acute care, and the leaders in the industry responded with compassion, focus — and a new attention to technology tools," said Skilled Nursing News Managing Editor Tim Mullaney. "Though pandemic recovery is ongoing, the results from our survey with Net Health reveal a continued surge of optimism and activity."
"We are pleased to support SNN's work in gathering data about the state of the skilled nursing industry," says Net Health CEO Josh Pickus. "We are aware of the many challenges facing our skilled nursing clients and hope the survey provides insights to help providers better navigate the months ahead."
The survey was conducted online between October 17, 2022, and December 5, 2022. Access the full survey results here.
About Aging Media Network and Skilled Nursing News
Aging Media Network, an innovative publishing company based in Chicago, Illinois, is the publisher of Skilled Nursing News, Senior Housing News, Home Health Care News, Hospice News and Behavioral Health Business. Skilled Nursing News is the leading source for news and information covering the skilled nursing and post-acute care industry.
About Net Health
Net Health's mission is to harness data for human health. Net Health solutions are trusted in over 23,000 facilities across the continuum of care. Our EHR software enables caregivers and their organizations to engage effectively with patients, streamline documentation, staff efficiently, secure maximum appropriate reimbursement and maintain regulatory compliance. Our unique approach to analytics seamlessly presents insights in clinical and operational workflows to improve care and business performance. Net Health is a portfolio company of The Carlyle Group, Level Equity and Silversmith Capital Partners. http://www.nethealth.com.
Media Contact
George Yedinak, Aging Media Network, 312.809.5755, [email protected]
SOURCE Aging Media Network
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