31st Skilled Nursing Facility Cost Comparison — Stronger Data for Benchmarking
Our Cost Comparison Report has been updated with the most recent data. Learn more by checking out our 33rd SNF Cost Comparison Report.
The Skilled Nursing Facility (SNF) Cost Comparison Report gathers financial data from the entire population of nursing facilities nationwide. The report helps leaders make strategic decisions concerning solvency, cost efficiencies, and profitability. This year’s publication is based on information reported in 2015 from approximately 15,000 providers.
No doubt the pace and complexity of change in the skilled nursing industry is creating challenges and opportunities for providers throughout the country. For more than 30 years, CLA’s annual cost comparison reports have provided insights to providers seeking to understand how their business practices compare to their peers. As the industry becomes more complex, the needs of providers change. In response to these changing needs, we have greatly expanded our benchmarking and analytic capabilities. Over the past 18 months, we have been on a journey to build a database that houses financial and quality metrics of every skilled nursing facility in the United States. To date, we have the ability to analyze over 375 million data points from more than 15,000 Medicare certified skilled nursing facilities in the country. This data set has allowed us to expand the depth and accuracy of our report.
More data provides better analysis
Over the last few years we developed a hypothesis that, as the health care environment evolves, there will be a larger standard deviation between high and low performing skilled nursing facilities. This premise is based on several factors, including the following:
- Alternative payment models (APMs) are driving acute care providers to narrow their post-acute networks.
- Not all post-acute providers have the ability, skill, and infrastructure to produce the data-driven metrics that are attractive to referral sources.
- Workforce challenges are not impacting all providers equally.
- Increased regulatory requirements are overwhelming some providers.
- Value-based purchasing is driving more volume to providers that produce quality outcomes at a reasonable cost.
We are confident that the skilled nursing industry will continue to evolve faster and become more complex in the near future. However, we also believe that the industry is ripe with opportunity for the nimble and innovative provider. We believe that there will be many providers who can strategically position themselves in a way that allows them to flourish and provide critical, high-quality services to older adults in a sustainable, profitable manner.
How we can help
This 31st SNF Cost Comparison Report can help you make strong strategic decisions. CLA’s experience over many decades has provided us with a sophisticated and unique perspective on the rapidly changing health care industry. Our resources can help your organization understand its financial and operational challenges, so you can continue to evolve as the industry changes.