Chapter 15 Notes for ECON

Chapter 15 Notes for ECON - Chapter 15 Long- Term Care a...

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Chapter 15 Long- Term Care – a set of health care, personal care, and social services delivered over a sustained period of time to persons who have lost, or never acquired, some degree of functional capacity, as measured by index of functional ability. The goal of long-term care is to enhance the quality of life. The need for the long-term care is generally permanent Organizational settings for long-term care Informal – friends and family members Intermediate – home health care, assisted living facility Formal – skilled nursing home Structure of skilled nursing homes For-profit Not-for-profit Government Most nursing homes are organized on a for-profit basis. 54% of nursing homes belong to a chain or group. Almost 90% of the nursing homes are certified for Medicare and Medicaid. Purchasers of nursing home services Medicaid (long term) Consumers out-of-pocket Medicare (short-term) Private insures Structure of nursing home industry Relatively large number of nursing homes
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Barriers to entry are relatively low
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Chapter 15 Notes for ECON - Chapter 15 Long- Term Care a...

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