Cost of Nursing Home Care is Growing Faster than Inflation

Dollar bills

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After a six-year study conducted by Georgetown University Medical Center, the study’s lead author, Dr. Sean Huang, found that California, Florida, New York and Texas all saw an increase in cost of care that went above the standard inflation. Due to this drastic difference between cost of care and income, it’s predicted that funding for some of these programs is set to run out within the next ten years.

The current labor market for nursing home care workers has already been tight in recent years and due to the shortage, wages go up which, in turn, cause the cost of care to increase. Advancements in technology can only go so far in this industry too since most jobs are hands on with the residents and require a level of care that technology cannot do.