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The largest nursing home company in the U.S. is Genesis HealthCare, with a revenue of $5.7 Billion and 68,700 employees.
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As of 2021, the US nursing home industry has a market size of $146.9 billion.
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US nursing homes employ over 1.6 million people.
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The US nursing home market is projected to grow at a CAGR of 3.32% through 2030.
Aging is a natural part of life, and sometimes it requires a little extra help. The older people get, the more there is to take on, such as health problems, slowing cognitive abilities, and a world that’s rapidly changing around them. All of these aspects add up and illicit the need for trustworthy nursing home companies.
Around 16.5% of the American population are senior citizens, and they need equipped living facilities. This demand gives rise to a huge industry for nursing home companies that bring in billions of dollars every year.
DETAILED LIST OF THE 10 LARGEST NURSING HOME COMPANIES
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Genesis HealthCare. Kennett Square, PA
2022 Annual Revenue: $5.70 billion
Number of Employees: 68,700The birth of Genesis HealthCare occurred in 1985 when Michael Walker and Richard Howard purchased a total of nine medical centers. In their first ten years of business, Genesis was making nearly ten times the revenue that they experienced when the facilities first opened.
As such, Genesis HealthCare went on to purchase even more nursing homes and rehabilitation centers.
This number has continued to grow over the years, and today, Genesis HealthCare has over 500 skilled nursing centers and assisted living facilities under their domain across more than half of the United States. They also provide rehab services to people in around 1,700 locations.
The system of acquisition that Genesis HealthCare has centered its business model around has worked for them very well. They remain one of the largest nursing home companies in the United States based on their annual revenue and number of facilities.
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Life Care Centers of America. Cleveland, TN
2022 Annual Revenue: $4.30 billion
Number of Employees: 40,000The Life Care Centers of America is the largest nursing home company in the United States as calculated by revenue, bringing in $10 billion yearly. Their facilities are established in 28 states and have about 42,000 medical employees.
In addition to fully serving the patients that live in their facilities, Life Care Centers of America also provide assistance for their family members.
It’s stated by the Life Care Centers of America that their company mission is to be the preferred facility of the communities that they serve. They do this by offering a variety of living circumstances in their 200 facilities to accommodate the needs of their residents.
The types of facilities that Life Centers of America has are:
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Independent living facilities
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Assisted living facilities
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Rehabilitation
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Alzheimer’s and dementia care
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Retirement communities
While the Life Care Centers of America is considered the largest nursing home company in the United States, they’ve had their share of problems. In 2015, the organization was subject to a federal lawsuit for Medicare fraud.
They eventually had to pay $145 million in reparations for submitting fraudulent claims of rehabilitation therapy. This was the largest settlement that a nursing home company has ever had to pay in American history.
Despite this massive lawsuit for very serious offenses, Life Care Centers of America remains the top nursing home company in the United States by revenue.
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Ensign Group. Mission Viejo, CA
2022 Annual Revenue: $3.025 Billion
Number of Employees: 25,900Founded only 20 short years ago, The Ensign Group has still managed to work its way up the list of the largest nursing home companies. They provide nursing and rehabilitation care across 82 facilities. Each of these facilities can house up to 9,500 assisted and independent residents. The states that the Ensign Group serves include:
While the Ensign Group’s locations cover less ground than some of the other nursing home corporations, they still manage to generate an impressive 1.8 billion dollars in revenue annually.
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2022 Annual Revenue: $3.00 billion
Number of Employees: 55,000
The operations of HCR ManorCare are wide-reaching. ManorCare provides both short and long-term care for:
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Rehabilitation Centers
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Nursing Homes
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Assisted Living Facilities
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Outpatient Rehab Clinics
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Hospice and Home Health Care
This has resulted in HCR ManorCare handling over 500 facilities under these specialties across the United States. Unlike many other nursing home companies, HCR ManorCare is a non-profit organization.
A non-profit function to serve a public service or social benefit rather than be a revenue-generating venture. While their annual revenue might not be a measurable factor, HCR ManorCare is still one of the largest nursing home companies in the world.
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Brookdale Senior Living. Brentwood, TN
2022 Annual Revenue: $2.825 billion
Number of Employees: 58,400Brookdale Senior Living was enacted in 1978 to be a high-class retirement home that was akin to the five-star hotels of the day. This original business plan eventually grew into including Continuous Care Retirement Properties that provided assisted living services.
Currently controlled by Glenview Capital Management, Brookdale has over 60,000 staff that take care of 100,000 residents daily.
Brookdale Senior Living worked its way up the ranks of nursing home companies because of the 700 communities they manage across the United States and the billions of dollars they bring in every year. While it is an enormous retirement home company, Brookdale Senior Living hasn’t been without fault over the years.
Only a month ago, the state of California filed a lawsuit against Brookdale for exploiting a federal government nursing home rating system. The impacts these will have on Brookdale Senior Living are yet to be seen, but for now, they remain one of the largest nursing homes in the United States.
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2022 Annual Revenue: $2.20 Billion
Number of Employees: 23,000SavaSeniorCare, all one word, is a nursing home company whose goal is to provide comprehensive and compassionate healthcare to those in need. Their specialties include:
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Nursing Assistance
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Memory Care
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Rehabilitation Services
Their facilities accept short-term patients who need to focus on targeted care and long-term residents who require general assistance with their day-to-day activities. SavaSeniorCare nursing homes span across 23 states and make an estimated $1.7 billion yearly, making them one of the largest assisted living companies on the market.
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Five Star Senior Living. Newton, MA
2022 Annual Revenue: $1.1 Billion
Number of Employees: 19,000Five Star Senior Living is another nursing home organization that was established fairly recently in 2001 and has gone on to become one of the biggest assisted living companies in the country. The properties of Five Star include various types of senior living communities, such as:
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Independent living
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Assisted living
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Skilled nursing facilities
The majority of Five Star’s business has been formed by acquisitions of other senior living facilities. These buyouts have resulted in the company currently holding 283 senior living facilities spread out across 32 states in America.
These locations generate over a billion dollars in revenue for Five Star Senior Living annually, making them one of the most expensive nursing home companies in the United States.
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Holiday Retirement. Winter Park, FL
2022 Annual Revenue: $1.1 billion
Number of Employees: 3,618There are a grand total of 25,000 senior residents who are managed by the 240 nursing home communities of Holiday Retirement. An expansion that grew from the West Coast starting with a single nursing home in Vancouver, Washington, in 1971. In the 1990s, Holiday Retirement was adding 22 new properties to their holdings every year.
The communities of Holiday Retirement are a little different than other senior living facilities because they don’t have professional medical staff to assist with daily activities. Rather, their facilities are more like a housing faction that’s exclusively for senior residents.
However, these residents are welcome to bring in outside hospice care if needed.
This business model of a more independent senior living facility is working for Holiday Retirement because they currently bring in nearly half a billion dollars yearly.
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Atria Senior Living. Louisville, KY
2022 Annual Revenue: $778.5 million
Number of Employees: 9,327Atria Senior Living is a privately-owned housing company for the elderly that serves half of the United States and several Canadian provinces. The company mostly caters to suburban clientele.
One of the main features that sets Atria Senior Living apart is the fact that they have specific facilities equipped to handle patients with dementia.
With over 18,000 residents within the facilities of Atria Senior Living, it’s one of the biggest nursing homes in the United States.
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2022 Annual Revenue: $681.5 Million
Number of Employees: 34,300Golden Living Center is an American nursing home company that’s been around for nearly 60 years. In that time, Golden Living has established itself as #157 of the Forbes list of America’s Largest Private Companies in 2020. Golden Living Center facilities are supported by the companies of their subsidiary, Golden Innovations.
These include:
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AseraCare Hospice and Home Health
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Aegis Therapies
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360 Healthcare Staffing
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Ceres Purchasing Solutions
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Vizia Healthcare Design Group
In addition to caring for the elderly, Golven Living Facilities are also home to people recovering from an injury or illness. These have earned them a spot as one of the largest nursing homes in the United States.
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Nursing Home Statistics FAQ
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How many Americans live in nursing homes?
About 1.4 million Americans live in nursing homes. In addition to this, there are more than 810,000 Americans who live in assisted living facilities.
Assisted living facilities provide less hands-on care than nursing homes do and are designed for people who can still live independently but need some care. However, many of these residents move to nursing homes just a couple of years after they move into assisted living facilities.
As far as nursing home residents go, though, California has the greatest number of any state, with about 99,956 residents. Texas and New York are close behind with 90,708 and 89,775, respectively, and Alaska has the least with 499 nursing home residents.
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Home many nursing homes are there in the U.S.?
There are about 26,514 nursing homes in the U.S. This is the number of nursing homes as of 2022, and it is 2% more than there were in 2021. This is on pace with the 2% average annual growth rate of the number of nursing home facilities from 2017 to 2022.
This growth is only expected to continue, and experts predict that 2022 will see an increase of 2.2% in the number of nursing homes in the U.S.
Of these nursing homes, almost 70% are for-profit organizations. 23.5% are nonprofits, and 7.2% are run by the government.
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What is the average lifespan in a nursing home?
The average lifespan in a nursing home is 2.2 years. This means that the average person who moves into a nursing home lives for about 2.2 years. This varies greatly depending on the individual, of course, but that’s the average.
Interestingly, women typically need long-term care of some kind (at-home, assisted living, or nursing home) for a longer time than men do, needing an average of 3.7 years to men’s 2.2 years.
In addition, 20% of people who are currently 65 years old will need long-term care of some kind for more than five years, and about 33% will never need long-term care.
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What percentage of Americans over 65 live in nursing homes?
4% of Americans over 65 live in nursing homes. In addition, 2% of Americans in this same age group live in assisted living facilities.
Of those who do live in nursing homes, 18.2% are between the ages of 65 and 74, 26.7% are between the ages of 75 and 84, and 38.6% are 85 or older.
While people who are over age 65 make up the largest share of nursing home residents, there are also a significant number of people under the age of 65 who live in nursing homes. 16.5% of all long-term nursing home residents are under the age of 65, which isn’t an insignificant percentage.
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How big is the U.S. nursing home industry?
The U.S. nursing home industry is $146.9 billion in size. Just one year earlier, in 2021, the industry’s market size was $134.95 billion. It’s already experienced an average annual growth rate of 1.9% from 2017 to 2022, and experts predict that it will grow at an even faster rate of 4.5% in 2022.
The market is made up of 26,514 nursing homes in the U.S., and this number is also growing: It’s estimated that the number of nursing home businesses will increase by 2.2% throughout 2022.
About 1.7 million people work in these nursing homes. The number of nursing home employees was shrinking from 2012 to 2020, but since 2020, it’s been on an upward trajectory and is expected to increase by 3.2% in 2022 alone.
Author
Sky Ariella is a professional freelance writer, originally from New York. She has been featured on websites and online magazines covering topics in career, travel, and lifestyle. She received her BA in psychology from Hunter College.
