NAICS Code 623 - Nursing and Residential Care Facilities

NAICS 623 - Nursing and Residential Care Facilities

NAICS 62 - Health Care and Social Assistance
NAICS 11 - Sector 11--Agriculture, Forestry, Fishing and Hunting NAICS 21 - Sector 21--Mining NAICS 22 - Sector 22--Utilities NAICS 23 - Sector 23--Construction NAICS 31 - Sector 31-33--Manufacturing NAICS 42 - Sector 42--Wholesale Trade NAICS 44 - Sector 44-45--Retail Trade NAICS 48 - Sector 48-49--Transportation and Warehousing NAICS 51 - Sector 51--Information NAICS 52 - Sector 52--Finance and Insurance NAICS 53 - Sector 53--Real Estate and Rental and Leasing NAICS 54 - Sector 54--Professional, Scientific, and Technical Services NAICS 55 - Sector 55--Management of Companies and Enterprises NAICS 56 - Sector 56--Administrative and Support and Waste Management and Remediation Services NAICS 61 - Sector 61--Educational Services NAICS 62 - Sector 62--Health Care and Social Assistance NAICS 71 - Sector 71--Arts, Entertainment, and Recreation NAICS 72 - Sector 72--Accommodation and Food Services NAICS 81 - Sector 81--Other Services (except Public Administration) NAICS 92 - Sector 92--Public Administration
- NAICS 623 - Nursing and Residential Care Facilities
  NAICS 621 - Ambulatory Health Care Services NAICS 622 - Hospitals NAICS 623 - Nursing and Residential Care Facilities NAICS 624 - Social Assistance

Industries in the Nursing and Residential Care Facilities subsector provide residential care combined with either nursing, supervisory, or other types of care as required by the residents. In this subsector, the facilities are a significant part of the production process and the care provided is a mix of health and social services with the health services being largely some level of nursing services.

Industry trends:

NAICS 623, which encompasses Nursing and Residential Care Facilities, has been experiencing several noteworthy qualitative trends driven by changing demographics, evolving healthcare needs, and technological advancements. A significant trend is the increasing demand for personalized care services. As the population ages, there is a higher expectation among residents and their families for customized care programs that address specific health needs and preferences. This has prompted facilities to adopt more resident-centered care models, often incorporating holistic and integrative approaches.

Technology integration is transforming the landscape of nursing and residential care. Facilities are increasingly utilizing advanced technologies such as telemedicine, remote monitoring, and electronic health records to enhance care quality and efficiency. This trend is expected to continue as technological innovations become more accessible and widespread, allowing for more seamless communication between healthcare providers and residents, thus improving health outcomes.

Staffing challenges remain a critical issue, with facilities facing shortages of skilled caregivers. This has spurred interest in employee retention programs, professional development, and alternative staffing models like temporary or flexible staff arrangements. Going forward, investment in training programs and competitive compensation packages will be pivotal in attracting and retaining talent.

Sustainability practices are also increasingly prioritized, as facilities recognize the importance of adopting environmentally friendly policies. This includes energy-efficient building designs and sustainable waste management practices. The focus on environmental sustainability is expected to grow, aligning with broader societal trends toward eco-conscious living.

The forecast for the near future suggests that as demand for more integrated and technologically enhanced care services grows, facilities will need to balance innovation with personalized care to stay competitive. Additionally, strategic investments in workforce development and sustainability will be essential for long-term success in this sector.