Medicaid the Leading Source of Income For Health Facilities
Medicaid, at $59 billion, is once again the greatest source of funding for nursing and residential care facilities as of 2007. (U.S. Census Bureu)
According to the 2007 Service Annual Survey:
- Health care and social assistance has seen a 6.8% revenue increase, going from $1.56 trillion in 2006 o $1.66
- Hospital revenue grew 6.5%, now at $687 billion
- Physicians’ offices revenue expanded 5.6%, now at $346 billion
- Dentists’ office’s revenue increased 7.1% to $94 billion
- Medicare led the sources of revenue for kidney dialysis centers, reaching $9.1 billion, an increase of 10.4%
- Emergency service and relief service revenue decreased by 13.2% within the last year, now at $6.9 billion. This has been the second year seeing decreases in revenue. The current revenue now equals the revenue seen in 2004.
- 10.1% increase was seen from revenues for continuing care retirement communities, now at $20 billion.
- These include on-site nursing care as well as assisted-living facilities.
- Homes for the elderly also saw a revenue increase of 7.1%, currently at $14.5 billion
The Service Annual Survey provides data annually to help get an idea of our nation’s current economic standing in the health field. The survey was conducted with the participation of 70,000 service companies and collected revenue, expenses, and e-commerce sales. Professional, trained health practitioners or social workers conducted all establishments involved in this survey.Last Modified April 27, 2009 @ 11:39 pm