With the minimal amount of outlook data available, getting a pulse on what is happening in the Maryland skilled nursing industry can be difficult. To help, we surveyed Maryland skilled nursing facility owners, executive directors and administrators as part of our 2017 Maryland Skilled Nursing Facility Outlook Survey to get their feedback on topics like their optimism for the future, top concerns and more. Here is what we learned:
1. Optimism Levels Are Not Great
With the turbulence of today’s political environment, along with proposed Medicaid cuts and the continually rising cost of business, it should come as no surprise to any provider that Maryland skilled nursing facilities are not exactly hopeful for the future. 35% of survey respondents said they are less optimistic about their facility’s outlook for 2017 than they were for 2016, with 38% saying they feel about the same as last year, and only 27% saying they feel more optimistic.
.png?width=576&name=SNF%20Blog%20Post%20Visual%20(1).png "snf survey results")
2. Facilities Are Worried About Changes in Payment/Reimbursement Systems
When it comes to what is keeping facilities up at night, survey respondents overwhelmingly said potential changes in payment/reimbursement systems (70%). Unsurprisingly, finding and retaining qualified employees ranked second on the list of top concerns (43%), followed by the level of outside regulatory requirements (38%).
.png?width=576&name=SNF%20Blog%20Post%20Visual%20(2).png "snf survey results")
3. Facilities Think the Current Administration’s Approach to Healthcare Will Have a Negative Effect on the Industry
With the level of uncertainty regarding the future of healthcare, we asked skilled nursing facilities what effect they believe the current administration will have on the industry overall. More than half of survey respondents said they believe the current administration’s approach to healthcare will have a negative impact on the industry, citing the ambiguity regarding the future of Medicaid in their reasoning. The remaining half of respondents were almost split 50/50, saying they feel the effect will be neutral or positive.
.png?width=576&name=SNF%20Blog%20Post%20Visual%20(3).png "snf survey results")
4. Nursing Remains the Most Expensive Cost Area and the Most Difficult to Control
Minimizing costs while maintaining the level of service has and will continue to be an issue for skilled nursing facilities. 57% of survey respondents said nursing costs are the area that they have the hardest time controlling, only a marginal drop from our 2016 survey when 63% said the same. 27% of respondents said they have the hardest time controlling costs related to salary and benefits. (Need some tips on controlling salary and benefit costs? Here’s some advice we got after our 2016 survey from our HR director.
.png?width=576&name=SNF%20Blog%20Post%20Visual%20(4).png "snf survey results")
Need Help?
Contact us online or call 800.899.4623.
Published on October 05, 2017