Nursing Homes See Highest Cost Increase in 2023 Driven By Worker Shortage

Inflation and the shortage of skilled care workers were the main drivers of increases in the rising costs of long-term care services in 2023, with skilled nursing rooms posting the highest increase. Genworth’s latest Cost of Care Survey released Tuesday found that since 2022, the national annual median cost of a semi-private room in a […]

Genworth, Curve Health Founder Partner to ‘Redefine’ How Consumers Find Skilled Nursing, Other Services

Insurance giant Genworth (GNW) has teamed with Timothy Peck — the entrepreneur behind Call9 and Curve Health — on a startup meant to redefine the way older adults connect with skilled nursing and other long-term services and supports. Currently, when older adults and their loved ones are in need, they must start to navigate a […]

Nursing Homes See Lowest Cost Increase Among Long-Term Care Settings in 2021

Skilled nursing facilities saw the lowest cost increase compared to other long-term care settings in 2021. The national annual median cost for a semi-private room in a skilled nursing facility increased by 1.96% to $94,000 while a nursing home private room increased by 2.41% to $108,405, according to the Genworth 2021 Cost of Care Survey. […]

Nursing Care Costs Rise Most Among All Long-Term Settings

The annual median cost of care for a private room in a nursing home hit $100,375, marking the biggest increase across all long-term care settings over the last five years. That’s according to the 15th annual Genworth Cost of Care Survey, which contacted more than 49,000 long-term care providers across the U.S. to complete 15,000 […]

Skilled Nursing Costs Rise Amid Labor Woes

The cost of nursing home stays has ticked up a notch thanks in part to ongoing labor issues, according to the latest Cost of Care Survey from insurer Genworth Financial (NYSE: GNW). National median rates for semi-private room nursing home care increased 4.44% and hit $7,148 per month; private-room nursing home care, meanwhile, reached $8,121 per month, a 5.50% […]