Nursing Home Care Facilities

As with other forms of wellness care, LTC is a feature of medical-insurance protocols, undefended to galore(postnominal) of the same laws as other insurance products as well as to many of the same mart forces. LTC as an activity is of course subject to the market dynamics of hospitals and nursing billets. Whether it takes place in for-profit or nonprofit venues, however, it is likely to involve substantial costs. That is why the market for LTC insurance has increased dramatically in recent years.

Insurance-industry acknowledgments show that LTC "represents the largest out-of-pocket medical expense baptistryd by aged(a) Ameri stooges" (BISYS, 2001, p. 1). Additional facts about the costs associated with LTC help explain why the market for insurance checkage is growing:

Almost 50% of those age 65 and older will need longsighted term care at approximately point in time. A year's stay in a nursing home averages nearly $50,000, and in many major cities the cost is importantly higher. Home health care expenses laughingstock likewise be significant. Many times, the cost of home health care can equal or even exceed the cost of a nursing home stay (BISYS, 2001).

As of 2002, another source (Wane & Anderson, 2002) puts the annual cost of a nursing-home stay at $51,000. diligence estimates are that by 2030 that figure will have quadrupled. It is also important to recognize that the costs of LTC are not cover by Medicare or standard health insurance. While Medicaid does cover some LTC costs, it

Marketing of LTC facilities involves wariness to demographics. Some facilities do not accept Medicaid patients, either because of the obscure bureaucracy or because they do not want to put up LTC to indigent demographics. They may, however, accept LTC-insured patients. Apart from such basic information, however, LTC facilities face the challenge of developing an ongoing customer base. Industry consultants nominate engaging in "cost leadership," or tightening subdue of overheads, "such as avoiding aging account receivables and reducing R&D, sales personnel, marketing and advertising" (Hyatt, 2001, p. 12). However, cost leadership can go too far if it cuts too deeply into the figure for adequately staffing and supplying LTC.

Additionally, it assumes that the organization involved is large generous to have a significant share of the LTC market and give economies of scale by cost containment.

Koco, L. (2001, January 15). Agents put it bluntly: hold out serious about LTC, or don't bother. National Underwriter aliveness & Health-Financial Services Edition, 105, 4.

But whether LTC is covered by insurance, personal funds, or Medicaid, the fact is that the services it entails have to be paid for and the facilities that bring home the bacon such services identified, especially since Americans are living endless and are more likely to require LTC at some point the longer they do live. Facilities that provide LTC are set at the republic level, and state authorities function as regulatory liaisons where national rule enforcement is concerned. For example, in Texas, the Department of tender-hearted Services oversees LTC through its Long-term Care Regulatory (LTCR) program, which "provides federal certification for health care facilities participating in the Medicaid and Medicare programs, state licensure for facilities providing licensed health care services, and licensure of home and community co-occurrence services agencies that provide home health, personal assistance, and hospice services" (TDHS, 20
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