In 2017, it’s estimated that spending on Long-Term Services & Supports (LTSS) totaled $348.1 billion nationally. This number represents an increase of 48 percent in the market; in 2008, spending totaled only $235.1 billion. As the LTSS market expands, it’s important to know why.
The answer is simple: As America continues to gray, our older neighbors and family increasingly want to stay at home. This has slowed nursing home industry growth. In fact, it could actually shrink by as much as 20 percent by 2021. As behaviors change, it’s essential that services adapt and cater to shifting needs.
– Josh Sloop, PA Health & Wellness