SNFs provide short-term nursing and rehabilitation services following a stay in an acute care hospital or other healthcare environments. SNF services provide important benefits such as support with activities of daily living, post-hospital and post-surgical care, long-term custodial care, personalized care plans, and others. As the number of operations and hospital stays rises, more patients require post-acute care and rehabilitation services.

A significant element driving the market's revenue growth is also the increased prevalence of chronic diseases including diabetes, heart disease, and cancer. The population is getting older and more prone to chronic diseases, which is driving up the need for post-acute care services. Because hospitalization is so expensive and home healthcare is so common, there is an increased need for SNFs and rehabilitation services.

Moreover, technological advancements in the healthcare industry are driving market revenue growth. Because of the use of telemedicine and remote patient monitoring technology, SNFs may now provide remote rehabilitation services, which has reduced hospital readmission rates and healthcare expenses while improving patient outcomes. As more people utilize Electronic Health Records (EHRs), care coordination between skilled nursing facilities and other healthcare providers improves, resulting in improved patient outcomes and lower healthcare expenditures.

Additionally, increasing consumer awareness of the value of rehabilitation services is anticipated to fuel market revenue development. The Centers for Medicare and Medicaid Services (CMS) have introduced two reimbursement programs, the Skilled Nursing Facility Value-Based Purchasing (SNF VBP) program and the Skilled Nursing Facility Quality Reporting Program (SNF QRP), to incentivize SNFs to provide high-quality rehabilitation services.

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Some Key Highlights from the Report

• In terms of revenue, the physical therapy segment dominated the worldwide SNF rehabilitation market in 2022. This is brought on by the aging population as well as the rising prevalence of chronic illnesses and ailments including diabetes, arthritis, and cardiovascular disease. Physical therapy, which aims to restore or enhance patients' physical functions and mobility, is an important part of rehabilitation treatments in skilled nursing institutions. A variety of exercises and techniques are used in this treatment to strengthen muscles, enhance balance and coordination, lessen discomfort, and improve general physical well-being.

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