Long-term Care Facilities Survey, April 1, 2013 to March 31, 2014
According to Statistics Canada a recent survey that contributes to an understanding of the health sector and its relative input to the economy states:
There were 1,519 long-term care facilities in Canada serving 149,488 residents. During this time, the industry generated revenues of $10.9 billion and expenses of $10.8 billion, of which $7.2 billion were wages and salaries. This corresponded to a profit margin of $154.2 million or 1.4% of total revenues.
The data relates to non-acute health care facilities with four or more beds that provide medical or professional nursing supervision or some higher level of care to residents but are not part of a hospital.
The survey is a census of these facilities in all provinces and territories in Canada, excluding Quebec.
I would love to hear your thoughts on this number of 1.4% profit margin on total revenues.
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