Marcum LLP Releases Annual 5-Year Nursing Home Statistical Analysis: Benchmarking Tool for Facility Performance and Strategic Planning
Marcum LLP today issued its third annual nursing home benchmarking study, covering the period 2015-2019. The report is produced by the Firm’s Healthcare Services Group to help long-term care providers improve both operational and financial performance and to guide strategic planning for the future.
Download the Five-Year Nursing Home Statistical Analysis
Marcum’s new Five-Year Nursing Home Statistical Analysis is an exhaustive review of the Center for Medicare and Medicaid Services (CMS) database of CMS Form 2540-10 Medicare cost reports filed annually by the nation’s approximately 15,000 nursing homes – of which 10,000 constituted the sample for the Marcum analysis. In addition to the review of Medicare cost reports, the analysis utilized the Five-Star Quality Reporting System as well as Medicaid cost reports filed with various states. The benchmark study presents both national and regional data, and covers Departmental, Revenue, and Balance Sheet analytics as well as a catalog of data reference tables.
Key among its findings, the report reconfirms a direct correlation between staffing ratios (number of nursing hours per patient day) and quality of care, both overall and in specific categories. Metrics include health inspections, staffing, and quality measures. Regions of the country where facilities received the lowest ratings in the 5-star system also had the lowest staffing ratios; conversely, those with the highest star ratings demonstrated the greatest care hours per patient.
In a positive indicator for the health of the industry overall, the percentage of nursing homes nationwide receiving five stars (highest performance rating) increased over last year’s analysis, while the percentage of 1-star (lowest rating) facilities decreased:
- Five Stars: 4,105 homes (27.14% of total population): +5.45%
- One Star: 2,149 homes (14.21% of total population): -4.36%
Looking ahead, the report also examined demographics, occupancy, and average length of stay to reveal implications for the future outlook of the long-term care industry.
About Marcum LLP
Marcum LLP is a top-ranked national accounting and advisory firm dedicated to helping entrepreneurial, middle-market companies and high net worth individuals achieve their goals. Marcum’s industry-focused practices offer deep insight and specialized services to privately held and publicly registered companies, and nonprofit and social sector organizations. The Firm also provides a full complement of technology, wealth management, and executive search and staffing services. Headquartered in New York City, Marcum has offices in major business markets across the U.S. and select international locations. #AskMarcum.
