Table 2.
Descriptive Statistics for Variables in the Study (N = 7688 nursing home-year observations).
| Mean | SD | |
|---|---|---|
| Dependent variable | ||
| Nursing home’s operating margin | 11.67% | 8.04 |
| Independent variables | ||
| Assisted living beds per 1000 over the age of 65 | 25.67 | 9.78 |
| Occupancy rate | 88.88% | 9.40 |
| Organizational control variables | ||
| Chain affiliation (multifacility) | 60% | |
| Ownership (for-profit) | 78% | |
| Percent Black | 23.30% | 18.58% |
| Percent Hispanic | 15.67% | 25.75% |
| Percentage of residents covered by HMO | 14.66% | 16.61% |
| Acuity index | 12.14 | 1.22 |
| Market control variables | ||
| Herfindahl index | 0.10 | 0.17 |
| Number of home health agencies per 1000 adults | 27.91 | 29.18 |
| Number of short-term hospital beds per 1000 adults | 18.27 | 11.07 |
| Medicare managed care penetration rate | 28.41% | 16.01% |
| Educational attainment (less than high-school) | 9.88% | 2.95% |
Note. HMO = health maintenance organization.