A picture of health.Are you charging what you should for space in your nursing home? Are you charging too little or too much? That's what a recent MetLife survey attempts to show, and its findings are clear: nursing home costs are rising. At press time, the average cost of a day in a private nursing home room showed a cost increase of 8 percent. Today's national average stands at $181 per day, $13 more than last year, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. an annual market survey produced by MetLife's Mature Market Institute in June June: see month. . That rate does vary widely from one part of the country to another: Alaskans pay the most for nursing home care at an average of $420 per day, while residents in Shreveport Shreveport (shrēv`pôrt), city (1990 pop. 198,525), seat of Caddo parish, NW La., on the Red River near the Tex. and Ark. lines; inc. 1839. , La., pay the least at $96 per day. According to Sandra sandra (sänˑ·dr  ),adj Timmermann, Ed.D., director of the MetLife Mature Market Institute in Westport Westport, residential town (1990 pop. 24,407), Fairfield co., SW Conn., on Long Island Sound at the mouth of the Saugatuck River; settled 1645–50, inc. 1835. It serves as a popular residence for New York City commuters. Westport has a summer theater. , Conn., nursing home costs have been rising from year to year as the population ages. "There are 35 million people over age 65 today, and that figure will reach more than 70 million by 2030," said Timmermann. "As people get older, they are more likely to develop chronic conditions or physical and cognitive disabilities and require ongoing assistance with day-today activities." Currently, 6.4 million people age 65 and older need long term care. The projected cost per resident in 2003 is 1$66,153 per year, or $158,766 for the average, according to MetLife. For the survey, nursing homes in 87 markets nation-wide were contacted by telephone. A total of 476 nursing homes, all with private pay rates, participated. The complete survey is available at www.metlife.com. MetLife's survey is just one of several tools this issue that helps gauge the health of our industry. A joint production with the National Investment Center for Seniors & Housing Care Industries, this issue also features several industry reports and perspectives from NIC (1) (Network Interface Card) See network adapter. See also InterNIC. (2) (New Internet Computer) An earlier Linux-based computer from The New Internet Computer Company (NICC), Palo Alto, CA. (starting on page 21) that contain more financial information to provide a current snapshot (1) A saved copy of memory including the contents of all memory bytes, hardware registers and status indicators. It is periodically taken in order to restore the system in the event of failure. (2) A saved copy of a file before it is updated. of the long term care marketplace as well as resources for your financial needs. Freelance Writer Jan Shuxteau contributed to this article. |
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