The nursing home industry and nursing home owners are once again poised to make tremendous profits in 2011. To the extent that corporate owners claim that there are insufficient funds to provide care to innocent and vulnerable nursing home residents, they are certainly able to create great wealth for themselves. Sadly, these profits often seem to take priority over compassionate and responsible care.
According to a recent report, in 2005 the nursing home industry was valued at $186 billion. That number has almost doubled in the past five years, and in 2010 was estimated $258 billion. Experts project a steady growth will continue at annual rates of over 6%, resulting in a market with revenues of $353.5 billion in 2015.