News & Press Releases
First Time Compendium on Long-Term Care Financing Underway
Press Room – 2007 NIC Press Releases
First Time Compendium on Long-Term Care Financing Underway
RTI International Awarded Contract to Analyze Work to Date on Growing Crisis
FOR IMMEDIATE RELEASE: April 12, 2007
Contact: Renee Tilton, (410) 626-0805 or rtilton@crosbymarketing.com
ANNAPOLIS, Md. – RTI International has won the contract to conduct a comprehensive review and analysis of research on issues related to the projections of long-term care financing, as announced today by the National Investment Center for the Seniors Housing & Care Industry (NIC). This undertaking is the first of its kind on this subject.
“Within the next 10 years, the question of how we as a nation are going to finance long-term care will be front and center on the national agenda,” said Robert G. Kramer, NIC president. “The result of this review and analysis will be a compendium of research done by the top minds in the country, which should serve as a solid ground for discussion on this growing challenge.”
NIC has undertaken the compendium as an initial effort to lay the groundwork for informing key stakeholders on the need for long-term care in the future. The compendium is intended to serve as a vital resource document for national and state policymakers as well as those in the healthcare, long-term care and housing sectors who provide services to older adults or who provide financing for such services.
The research team will be headed by Dr. Joshua M. Wiener, senior fellow and program director for Aging, Disability and Long-Term Care at RTI International. His past work includes leading the development of the first comprehensive long-term care financial micro-simulation model, the Brookings-ICF Long-Term Care Financing Model, a predecessor to The Lewin Group’s Long-Term Care Financing Model. Dr. Wiener was formerly with the Urban Institute, the Brookings Institution, the Health Care Financing Administration, the U.S. Congressional Budget Office, and other state health-related commissions and departments.
RTI International is scheduled to complete the review and analysis in September. Key results will be presented at the 17th Annual NIC Conference on October 3-5, 2007, in Washington, D.C. NIC will then publish the results as a compendium later this fall. The compendium will include previous studies done on the need for long-term care in its various paid and unpaid forms (rehabilitation, skilled nursing, assisted living, home health care, adult day care, etc.) at the national level and identifying, in particular: projected costs of such care in future years; projected funding gap between the cost of such care in future years and the projected government and private sources of funding available to pay for such care; and, key variables and assumptions of current models that project the long-term care need and funding amounts available.
The balance of the chapters will be devoted to other research that may have value for the future of financing long-term care, (e.g., the impact of financing on quality measures, patient outcomes, etc.), as well as areas where further research is needed. The compendium is intended to be a major reference document for use by all stakeholders on this issue and will be updated approximately every three years. For more information, contact Robert G. Kramer, NIC president, at rkramer@nic.org or (410) 267-0504.
About RTI International: RTI International is one of the world’s leading research institutes with more than 2,600 individuals working in 40 countries. For almost five decades, the organization’s efforts have earned national and international recognition, and it has been credited with achieving major breakthroughs in scientific and social research. A major focus of the Institute is healthcare, ranging from the discovery of life-saving drugs to healthcare financing. RTI International has done research and policy analysis for the Centers for Medicare & Medicaid, the Centers for Disease Control, the National Institutes of Health, the Administration on Aging, the Office of the Assistant Secretary for Planning and Evaluation/U.S. Department of Health and Human Services, the Robert Wood Johnson Foundation and AARP. RTI International is headquartered in Research Triangle Park, N.C. For more information, visit www.rti.org or call (866) RTI-1958.
About NIC: Founded in 1991, the National Investment Center for the Seniors Housing & Care Industry is a nonprofit education and research organization providing information about business strategy and capital formation for the senior living industry. NIC is the leading provider of historical and trend data on the industry through its Key Financial Indicators™ (KFIs) that report nationwide statistics and its Market Area Profiles (MAP™) Data and Analysis Service that tracks properties in the 100 largest metropolitan areas. Proceeds from its annual conference are used to fund research on issues of importance to the industry, including data useful to policymakers making decisions about seniors housing and long-term care. For more information, visit www.NIC.org or call (410) 267-0504.