Value added by nursing and residential care facilities 1998-2022
U.S. nursing and residential care facilities
Value added by nursing and residential care facilities in the United States has steadily risen in the last decade. In 2002, value added totaled nearly 81 billion U.S. dollars and reached 178 billion U.S. dollars in 2022. Along with increasing added value, employment within these facilities has also increased. In 2002, approximately 2.8 million people were employed in these facilities in the United States, by 2021, the total reached over three million people. This sector has been defined through the North American Industry Classification System as a significant part of production processes. Health care provided by these facilities is a combination of health and social services.
Nursing and residential care facilities’ revenues in the country were predicted also to rise. In 2008, their revenue totaled 177.5 billion U.S. dollars and is projected to reach 269 billion U.S. dollars by 2024. Nursing homes in the United States can be quite expensive. A private room in Connecticut is one of the most expensive in the country, reaching a median of nearly 182,000 U.S. dollars per year. However, there are other cheaper options as well for nursing and residential care facilities.