Medicaid Funding Key Funding Source

According to a new U.S. Census Bureau report, Nursing homes and residential care facilities continued to receive most of their funding from Medicaid in 2007. The entitlement program handed out $59 billion to them.

Medicaid provided at least $20 billion to continuing care retirement communities in 2007, which was up 10.1% from 2006. Homes for the elderly that do not have on-site nursing care facilities also saw a revenue increase of 7.1% up to $14.5 billion, according to the Census Bureau figures. Overall healthcare and social assistance revenue increased by 6.8% to $1.66 trillion in 2007.

While overall revenues were up, emergency relief services saw a 13.2% cut, dropping the amount of funding received to $6.9 billion. Figures were compiled from the results of the 2007 Service Annual Survey: Health Care and Social Assistance, which estimates revenues for healthcare providers and related businesses with paid employees.

Source: US Census Report