The cost of nursing home care is really starting to get high in America. A nationwide survey, mentioned in the Chicago Sun Times, noted that the cost of nursing home care in Chicago has skyrocketed 30% since 2004. It now costs $72,567 for one year worth of care. Overall, the costs are rising nationwide as well.
The reason for this is of course, the nursing shortage. Due to the fact that nurses are the primary workforce for nursing homes and since they are in shortage it leads to higher costs. Couple that with the fact that every year more people are retiring and that lifespans are increasing, hence the overall demand is increasing and you have a recepie of some very large price increases, which is exactly what we are seeing.