Elder Care revenues poised to grow 5.2% annually through 2016

According to this report from PR Newswire, revenue from all aspects of elder care (home and facility services) are expected to grow annually at 5.2% through 2016. Demographically, life expectancy is increasing and the oldest baby boomers are now reaching retirement age.

The market will be constrained by state and federal budget shortfalls it is predicted and Medicaid/Medicare reimbursements are likely to decline. This will mean more dependents will be steered towards less expensive care; likely benefiting in-home service providers over residential service providers.

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