Odyssey HealthCare - Competitors

Odyssey HealthCare Competition

Now Viewing Odyssey HealthCare's competition in: Nursing Homes and Assisted Living (primary)

Recent Developments

Nursing Home Rating System Announced - The CMS will implement an online five-star rating system to help consumers make more informed decisions about nursing homes. The ratings will be based on government inspection results, staffing data, and 19 quality measures. The CMS expects to post the ratings on the Medicare website by the end of 2008.

Seniors Want to Live at Home Longer - Older adults want to use technology so that they can age safely in their homes, according to the Center for Aging Services Technologies (CAST). Equipment that can monitor blood pressure, respiration, and other conditions in real-time while the person is at home may ease some of the challenges of providing care at home. Nursing home and assisted living facility use may decline if technological advances allow more people to remain at home as they age. The cost to install and maintain equipment is a barrier to increasing technology use for people 65-plus and for caregivers, however.

Many Ontario Facilities Below Minimum Standards - About 60 percent of Ontario nursing homes have been cited for violating some of the standards meant to ensure quality care, according to The Globe and Mail. Canadian nursing homes are expected to satisfy 400 rules governing everything from food temperature to ensuring a clean, safe, and respectful environment for residents. Spokespersons for many of the homes say that the vast majority of these violations have been addressed, but that staffing shortages continue to be a problem.

Competitive Landscape

Demand for nursing care is linked to the demographics of the US population. The profitability of individual nursing facilities depends on efficient operations, as revenue per patient is largely controlled by the big government insurance programs, Medicare, and Medicaid. Large companies have some economies of scale in administration and purchasing, but small operators can compete effectively by offering better service. The industry is highly labor-intensive: annual revenue per worker is less than $45,000.

Full Industry Overview For Nursing Homes and Assisted Living

Nursing Homes and Assisted Living Industry Forecast

from Hoover's/D&B subsidiary First Research

US personal consumption expenditures on nursing homes are forecast to grow at an annual compounded rate of 7.4 percent between 2007 and 2012.

Strong and Steady Consumer Spending Growth for Nursing Homes

First Research forecasts are based on INFORUM forecasts that are licensed from the Interindustry Economic Research Fund, Inc. (IERF) in College Park, MD. INFORUM's "interindustry-macro" approach to modeling the economy captures the links between industries and the aggregate economy.