Profession ranks as Florida’s 14th largest employer; generates $20.2b in economic activity
Stressing the important contributions nursing homes make to Florida’s economic activity, Florida Health Care Association today issued the third installment of their informational State of Long Term Care series. Florida’s long term care industry generates $20.2 billion in economic activity and supports and creates over 259,250 private sector jobs, a recent study by the American Health Care Association found. Florida Health Care Association is urging lawmakers to protect Medicaid funding streams to ensure these facilities can continue to play an important role in economic recovery while carrying out their commitment to provide quality care to Florida’s more than 71,000 long term care residents.
“Florida’s long term care community is well-positioned to be a significant driver of economic recovery and job creation, and preserving its ongoing economic stability should be a key policy priority,” said Emmett Reed, Executive Director of FHCA, the state’s first and largest advocacy organization for long term care providers and the frail elders they serve “Nursing homes are not only vital to the economic and employment base of urban, suburban and rural communities across Florida, they are increasingly important to the growing number of citizens who require quality long term care– and the millions more who will need it in the years ahead.”
Emphasizing that the demand for long term care will only increase – with 64 percent of Florida’s population by 2030 being seniors– the State of Long Term Care Workforce/Economic Impact Fact Sheet highlights the importance of stable Medicaid funding in supporting the health care needs of frail elders, 60 percent of who rely on Medicaid to cover the cost of their long term care services. With business lines stretching well beyond health care into transportation, food service, real estate and other sectors that keep the economy strong, Florida’s long term care facilities rank 14th in terms of largest overall employment.
The week-long State of Long Term Care series will bring awareness to Florida’s long term care demographics, Medicaid reimbursement challenges, the economic impact of the profession and the steady improvements that have been made in quality care.
For more information, follow the series here and at: