U.S. Long-term Care Market Size & Outlook, 2023-2030

Nursing care was the largest segment with a revenue share of 35.48% in 2023. Horizon Databook has segmented the U.S. long-term care market based on home healthcare, hospice, nursing care, assisted living facilities covering the revenue growth of each sub-segment from 2018 to 2030.

Service providers are conducting business evaluations and undertaking measures to improve care services. Hospices are developing payment opportunities beyond Medicare fee-for-service, which include private payer contracts, partnerships with providers including hospitals, arrangements with Medicare Shared Savings Plans for Accountable Care Organizations, and evaluation of payment models.

Adopting evidence-based practice guidelines for disease prevention instead of treating acute exacerbation of chronic disease can be one of the changes prompting a shift from treatment to proactive monitoring to avoid hospitalization. Such changes can assist in the reduction of reimbursement required, as the rapidly aging population is putting a strain on the Medicare budget.

Preference for type of care is influenced by factors such as age, extent of disability, and financial condition. Care services are opted more by patients with cognitive impairments than by patients with physical impairment. Individuals suffering from disorders such as Alzheimer’s disease and depression mostly opt for home healthcare.