Skilled nursing facilities had the highest annual resident monthly fee increase at 3.21% this year compared to its other aging facility counterparts, according to Ziegler’s CFO Hotline poll released this month.

Other senior living types included in the data were assisted living, which had a cost increase of 3.08%, and independent living, whose cost increased by 2.98%, on average.

In 2022, monthly skilled nursing costs are expected to see that increase bump up even further to 3.92%. Assisted and independent living are expected to see monthly costs increase by 3.78% and 3.71%, respectively.

When asked what the primary driver was for predicted fee increases, wages were top of the list, followed by inflation of supply costs, staffing and recruitment, and rising food costs.

“Increased costs for COVID-19 — testing, infection control, hazard pay to care for COVID-19 positive residents — are also driving up health care costs, which resulted in higher fee increases to SNFs,” one anonymous surveyee said.

“Consistent with previous years, most pressing by far was increased wages for employees,” the Ziegler report said. “Finding new staff was also a concern. Inflated cost of supplies, food, and other operating costs were factors in fee increases, and the lasting effects of COVID-19 (as it related to staffing, medical supplies, and changes in census) was a theme throughout.”

Data was also broken down by region and contract type.

Western facilities increased the most at 3.18%, with an expected increase of 3.94% in 2022, according to Ziegler data. Southern facilities are expected to outpace western facility increases, jumping up to 3.96% next year from this year’s increase of 3.18%. The Midwest and Northeast had lesser cost increases at 3.08% and 2.78%, respectively.

Nearly 250 not-for-profit senior living CFOs and financial professionals responded to the survey, Ziegler said, 65% represented single-site organizations, and 35% represented multi-site companies.