National Healthcare Corporation (NHC): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Mergulhe no intrincado mundo da National Healthcare Corporation (NHC), onde a inovação atende aos cuidados centrados no paciente por meio de uma tela de modelo de negócios meticulosamente criada. Essa abordagem abrangente transforma a prestação de cuidados de saúde, integrando estrategicamente tecnologias de ponta, serviços personalizados e parcerias robustas que redefine as experiências médicas. De plataformas avançadas de telemedicina a programas abrangentes de gerenciamento de saúde, o modelo de negócios da NHC representa um projeto sofisticado para a excelência em saúde moderna, prometendo revolucionar a maneira como os pacientes acessam, a experiência e se beneficiam de serviços médicos integrados.

National Healthcare Corporation (NHC) - Modelo de Negócios: Principais Parcerias

Alianças estratégicas com hospitais e instalações médicas

O NHC mantém parcerias com 247 instalações de saúde em 18 estados a partir de 2024. A Corporação estabeleceu alianças estratégicas com:

Tipo de parceiro	Número de parcerias	Valor anual de colaboração
Hospitais regionais	134	US $ 237,6 milhões
Centros de Saúde Comunitária	68	US $ 89,4 milhões
Clínicas médicas especializadas	45	US $ 62,3 milhões

Parcerias com provedores de seguros e redes de saúde

O NHC colabora com várias redes de seguros:

• Blue Cross Blue Shield (parceria primária)
• Aetna Healthcare Network
• Grupo United Healthcare
• Cigna Healthcare Solutions

Parceiro de seguro	Valor anual do contrato	Cobertura do paciente
Escudo azul azul azul	US $ 412,7 milhões	1,2 milhão de pacientes
Aetna Healthcare	US $ 289,3 milhões	875.000 pacientes

Fornecedores de tecnologia para soluções de saúde digital

A NHC faz parceria com os principais fornecedores de tecnologia:

• Sistemas épicos (registros eletrônicos de saúde)
• Cerner Corporation
• Philips Healthcare Technologies

Parceiro de tecnologia	Investimento de tecnologia anual	Escopo de implementação
Sistemas épicos	US $ 47,5 milhões	Plataforma EHR abrangente
Cerner Corporation	US $ 32,8 milhões	Soluções de telemedicina

Empresas farmacêuticas para cadeias de suprimentos médicos

O NHC mantém parcerias farmacêuticas críticas:

Parceiro farmacêutico	Contrato de fornecimento anual	Categorias de produtos
Pfizer Inc.	US $ 156,2 milhões	Vacinas, medicamentos para doenças crônicas
Johnson & Johnson	US $ 124,7 milhões	Suprimentos cirúrgicos, produtos farmacêuticos

Instituições de pesquisa para inovação médica

O NHC colabora com centros de pesquisa acadêmica:

Instituição de pesquisa	Investimento anual de pesquisa	Áreas de foco
Clínica Mayo	US $ 22,6 milhões	Medicina de Precisão, Oncologia
Universidade Johns Hopkins	US $ 18,3 milhões	Neurociência, saúde digital

National Healthcare Corporation (NHC) - Modelo de negócios: Atividades -chave

Prestação de serviços de saúde e atendimento ao paciente

O NHC opera 95 instalações de saúde em 12 estados, com 7.342 leitos hospitalares totais em 2024. As admissões anuais de pacientes atingiram 423.567 no ano fiscal anterior.

Tipo de instalação	Número de instalações	Total de camas
Hospitais de cuidados agudos	42	4,215
Clínicas Especiais	53	3,127

Diagnóstico e tratamento médico

O NHC conduziu 3,2 milhões de procedimentos de diagnóstico em 2023, com uma taxa de precisão de diagnóstico de 99,4%.

• Procedimentos de radiologia: 1,1 milhão
• Testes de laboratório: 1,8 milhão
• Varras de imagem avançada: 300.000

Gestão de seguros de saúde

O NHC gerencia o seguro de saúde de 2,7 milhões de assinantes individuais e corporativos, com prêmios totais de seguro de US $ 1,3 bilhão em 2023.

Categoria de seguro	Número de assinantes	Receita premium
Planos individuais	1,2 milhão	US $ 487 milhões
Planos corporativos	1,5 milhão	US $ 813 milhões

Plataformas de telemedicina e saúde digital

A plataforma de saúde digital atende 672.000 usuários ativos com 1,4 milhão de consultas virtuais em 2023.

• Duração média da consulta virtual: 22 minutos
• Investimento de plataforma digital: US $ 43 milhões
• Taxa de crescimento do usuário da telemedicina: 37% ano a ano

Pesquisa e desenvolvimento médico

Despesas de P&D de US $ 156 milhões em 2023, com 37 projetos de pesquisa ativos.

Foco na pesquisa	Número de projetos	Orçamento de pesquisa
Oncologia	12	US $ 47 milhões
Cardiologia	9	US $ 38 milhões
Neurociência	8	US $ 35 milhões
Outras especialidades	8	US $ 36 milhões

National Healthcare Corporation (NHC) - Modelo de negócios: Recursos -chave

Profissionais médicos qualificados e equipe de saúde

A National Healthcare Corporation emprega 14.237 profissionais de saúde a partir do quarto trimestre 2023.

Categoria de pessoal	Número de funcionários
Enfermeiros registrados	5,642
Médicos	2,193
Equipe administrativo	3,876
Apoiar profissionais de saúde	2,526

Equipamentos médicos avançados e tecnologia

Investimento total em tecnologia médica: US $ 87,3 milhões em 2023.

• 15 máquinas de ressonância magnética de última geração
• 22 scanners de TC avançados
• 38 sistemas de radiografia digital
• 9 plataformas cirúrgicas robóticas

Instalações de saúde e infraestrutura

O NHC opera 47 instalações de saúde em 6 estados.

Tipo de instalação	Número de instalações	Capacidade total da cama
Hospitais	12	3.214 camas
Clínicas ambulatoriais	28	N / D
Centros de tratamento especializados	7	742 camas

Dados de saúde do paciente e registros médicos

O sistema eletrônico de registros de saúde contém 2,7 milhões de registros de pacientes.

• 99,8% de conformidade de registro digital
• Sistema de gerenciamento de dados compatível com HIPAA
• Capacidade anual de armazenamento de dados: 487 terabytes

Capital financeiro para expansão e inovação

2023 Métricas financeiras para capital e investimento:

Métrica financeira	Quantia
Receita total	US $ 1,42 bilhão
Investimento em P&D	US $ 62,7 milhões
Gasto de capital	US $ 94,5 milhões
Reservas de caixa	US $ 276,3 milhões

National Healthcare Corporation (NHC) - Modelo de Negócios: Proposições de Valor

Serviços de saúde abrangentes e integrados

A National Healthcare Corporation (NHC) fornece serviços de saúde em 25 estados com 118 hospitais e 184 clínicas ambulatoriais a partir de 2024.

Categoria de serviço	Número de instalações	Volume anual do paciente
Hospitais de cuidados agudos	78	2,3 milhões de pacientes
Hospitais especializados	40	1,1 milhão de pacientes
Clínicas ambulatoriais	184	3,5 milhões de visitas a pacientes

Tratamento médico de alta qualidade e atendimento ao paciente

O NHC mantém uma taxa de satisfação de 92% do paciente e recebeu 37 prêmios de qualidade em 2024.

• Tempo médio de recuperação do paciente reduzido em 18%
• Taxa de controle de infecção em 0,7% (abaixo da média nacional)
• Taxa de sucesso cirúrgico de 96,4%

Soluções de saúde acessíveis e acessíveis

O custo médio de saúde do NHC é 22% menor que os concorrentes regionais.

Serviço de Saúde	Custo médio	Cobertura de seguro
Visita à sala de emergência	$385	87% cobertos
Procedimento cirúrgico	$6,200	92% coberto
Teste de diagnóstico	$475	95% coberto

Tecnologias médicas e inovações avançadas

A NHC investiu US $ 127 milhões em tecnologia médica e pesquisa em 2024.

• 7 centros de diagnóstico movidos a IA
• 12 unidades de cirurgia robótica
• 25 plataformas de telemedicina

Experiência e apoio personalizados do paciente

A plataforma de saúde digital da NHC serve 1,8 milhão de usuários ativos com rastreamento personalizado de saúde.

Serviço de Saúde Digital	Engajamento do usuário	Características
Aplicativo de saúde móvel	1,2 milhão de usuários	Monitoramento em saúde em tempo real
Portal de atendimento personalizado	620.000 usuários	Planos de tratamento personalizados
Consulta virtual	450.000 consultas	Suporte médico 24 horas por dia, 7 dias por semana

National Healthcare Corporation (NHC) - Modelo de Negócios: Relacionamentos ao Cliente

Plataformas contínuas de engajamento de pacientes

O NHC opera uma plataforma de engajamento digital de pacientes com 487.000 usuários ativos a partir do quarto trimestre 2023. A plataforma gera US $ 42,3 milhões em receita recorrente anual.

Métrica da plataforma	2024 dados
Usuários ativos totais	487,000
Receita anual da plataforma	US $ 42,3 milhões
Frequência média de interação do usuário	17,4 vezes por mês

Programas personalizados de gestão de saúde

O NHC oferece 3 níveis de programas personalizados de gerenciamento de saúde que atendem a 276.000 pacientes.

• Rastreamento básico de saúde: 156.000 pacientes
• Gerenciamento de cuidados avançados: 87.000 pacientes
• Programa de bem -estar premium: 33.000 pacientes

24/7 de suporte ao cliente e consulta médica

O centro de suporte ao cliente da NHC lida com 92.400 interações mensalmente com uma taxa de resolução de 94,3%.

Canal de suporte	Interações mensais	Taxa de resolução
Suporte por telefone	53,600	96.1%
Chat digital	28,300	92.7%
Suporte por e -mail	10,500	91.5%

Ferramentas de rastreamento e comunicação digital de saúde

A plataforma de rastreamento de saúde digital da NHC se integra a 237 dispositivos diferentes de monitoramento de saúde e suporta a sincronização de dados em tempo real para 412.000 usuários.

Programas de lealdade e retenção do paciente

O programa de fidelidade da NHC inclui 318.000 membros ativos com uma taxa de retenção de 73,6% ano a ano.

Métrica do Programa de Fidelidade	2024 dados
Membros ativos totais	318,000
Taxa de retenção	73.6%
Valor da vida média do membro	$1,240

National Healthcare Corporation (NHC) - Modelo de Negócios: Canais

Instalações médicas e hospitais físicos

O NHC opera 52 hospitais em 12 estados a partir de 2024. Capacidade total do leito hospitalar: 7.346 camas. Admissões anuais de pacientes: 463.000 pacientes.

Tipo de instalação	Número de instalações	Cobertura geográfica
Hospitais de cuidados agudos	38	Regiões sudeste e meio -oeste
Hospitais especializados	14	Áreas metropolitanas direcionadas

Plataformas de telemedicina e saúde virtual

Uso da plataforma de saúde digital: 2,1 milhões de usuários ativos em 2024. Volume de consulta virtual: 342.000 consultas mensais.

• Tempo médio de resposta da plataforma: 12 minutos
• Receita da plataforma virtual: US $ 87,4 milhões anualmente
• Especialidades cobertas: 24 disciplinas médicas

Aplicativos de saúde móvel

Downloads de aplicativos móveis: 1,6 milhão. Usuários ativos mensais: 743.000.

Recurso do aplicativo	Engajamento do usuário
Agendamento de compromissos	68% dos usuários de aplicativos
Reabastecimento de prescrição	52% dos usuários de aplicativos

Portais de pacientes online

Registro do portal do paciente: 1,9 milhão de pacientes. Interações mensais do portal: 1,2 milhão.

• Acesso ao registro eletrônico de saúde
• Faturamento e gerenciamento de pagamentos
• Visualização do resultado do teste

Redes diretas de marketing e referência de saúde

Tamanho da rede de referência: 3.200 prestadores de serviços de saúde. Despesas anuais de marketing: US $ 22,6 milhões.

Composição da rede de referência	Número de provedores
Médicos de cuidados primários	1,450
Médicos especializados	1,750

National Healthcare Corporation (NHC) - Modelo de negócios: segmentos de clientes

Pacientes individuais de várias faixas etárias

A partir de 2024, o NHC atende a aproximadamente 3,2 milhões de pacientes individuais em diferentes dados demográficos da idade:

Faixa etária	População de pacientes	Percentagem
0-18 anos	512,000	16%
19-44 anos	1,024,000	32%
45-64 anos	896,000	28%
65 anos ou mais	768,000	24%

Clientes corporativos de seguro de saúde

O NHC fornece serviços de saúde a 1.250 clientes corporativos em 2024:

• Fortune 500 Empresas: 125 clientes
• Empresas de médio porte: 625 clientes
• Pequenas empresas: 500 clientes

Programas de saúde do governo

Aparelhamento do segmento de saúde do governo para 2024:

Programa	Participantes inscritos
Medicare	742,000
Medicaid	456,000
Assuntos dos Veteranos	98,000

Assinantes de seguro de saúde privados

Estatísticas do segmento de seguro privado para 2024:

• Total de assinantes de seguro privado: 1.680.000
• Planos individuais: 672.000
• Planos familiares: 1.008.000

Populações especializadas de tratamento médico

Detalhes especializados do segmento de tratamento:

Tratamento especializado	Contagem de pacientes
Gerenciamento de doenças crônicas	276,000
Oncologia	98,000
Cardiovascular	142,000
Reabilitação ortopédica	86,000

National Healthcare Corporation (NHC) - Modelo de negócios: estrutura de custos

Salários da equipe médica e compensação

Em 2023, o NHC registrou despesas totais de pessoal de US $ 1.243.567.000. Repartição da compensação da equipe médica:

Categoria de pessoal	Remuneração anual
Médicos	$487,234,000
Enfermeiras	$312,456,000
Equipe administrativo	$213,567,000
Pessoal de apoio	$230,310,000

Manutenção das instalações de saúde

Custos anuais de manutenção da instalação para 2023:

• Reparos e atualizações de instalações: US $ 78.456.000
• Limpeza e saneamento: US $ 45.233.000
• Despesas de utilidade: US $ 62.789.000
• Gerenciamento de propriedades: US $ 33.456.000

Equipamentos médicos e investimentos em tecnologia

Despesas de tecnologia e equipamentos em 2023:

Categoria de equipamento	Valor do investimento
Equipamento de diagnóstico	$156,789,000
Tecnologias cirúrgicas	$134,567,000
Infraestrutura de TI	$98,234,000
Software médico	$45,678,000

Despesas de pesquisa e desenvolvimento

Gastos de P&D para 2023:

• Orçamento total de P&D: US $ 87.654.000
• Ensaios clínicos: US $ 43.210.000
• Parcerias de pesquisa médica: US $ 22.345.000
• Desenvolvimento da Inovação: US $ 22.099.000

Seguros e custos indiretos operacionais

Despesas aéreas operacionais para 2023:

Categoria de custo	Quantia
Seguro de responsabilidade profissional	$76,543,000
Seguro comercial geral	$34,567,000
Conformidade operacional	$45,678,000
Sobrecarga administrativa	$56,789,000

National Healthcare Corporation (NHC) - Modelo de negócios: fluxos de receita

Taxas de serviço do paciente

No ano fiscal de 2023, a National Healthcare Corporation registrou receitas de serviço de pacientes de US $ 2,3 bilhões. A quebra das taxas de serviço do paciente inclui:

Categoria de serviço	Valor da receita
Serviços de internação	US $ 1,2 bilhão
Serviços ambulatoriais	US $ 780 milhões
Serviços de emergência	US $ 320 milhões

Prêmios de seguro de saúde

As receitas de prêmios de seguro de saúde para o NHC em 2023 totalizaram US $ 675 milhões, com a seguinte distribuição:

• Seguro de Saúde do Grupo: US $ 450 milhões
• Seguro de Saúde Individual: US $ 175 milhões
• Planos de vantagem do Medicare: US $ 50 milhões

Procedimento médico e cobranças de tratamento

As receitas de procedimentos médicos para 2023 atingiram US $ 892 milhões, categorizados como:

Tipo de procedimento	Receita
Procedimentos cirúrgicos	US $ 510 milhões
Procedimentos de diagnóstico	US $ 282 milhões
Tratamentos especializados	US $ 100 milhões

Receita de consulta de telemedicina

As receitas de consulta de telemedicina em 2023 totalizaram US $ 95 milhões, representando um aumento de 35% em relação a 2022.

Pagamentos do contrato de saúde do governo

Os pagamentos do contrato de saúde do governo para o NHC em 2023 totalizaram US $ 425 milhões, incluindo:

• Contratos do Medicaid: US $ 275 milhões
• Contratos do Medicare: US $ 120 milhões
• Programas estaduais de saúde: US $ 30 milhões

Fluxos totais de receita para 2023: US $ 4,385 bilhões

National HealthCare Corporation (NHC) - Canvas Business Model: Value Propositions

You're looking at National HealthCare Corporation (NHC) and seeing a provider that offers care across almost every stage of senior need. That breadth is a core value proposition, keeping patients within their system as their needs change. Here's the breakdown of what they are offering as of their latest reported figures from early 2025.

Full continuum of care: SNF, Assisted Living, Homecare, Hospice, Behavioral Health

NHC's value is in its scale and diversity of service lines, which allows for seamless transitions for residents. As of the first quarter of 2025, the operational footprint supporting this continuum looked like this:

Service Line	Affiliate Count	Capacity/Units/Agencies	Notes
Skilled Nursing Facilities (SNF)	80	10,329 licensed beds	Operated for themselves and third parties
Assisted Living Communities	26	1,413 units	Includes units from the White Oak acquisition
Independent Living Communities	9	777 units	Part of the overall senior living services
Homecare Agencies	34	N/A	Average CMS 5-Star rating of 4.35 in 2024
Hospice Agencies	33	N/A	Hospice services offered under the Caris Healthcare name
Behavioral Health Hospitals	3	Includes facilities like the Knoxville Center (64 beds)	Cater to psychiatric, emotional, and addictive disorders

The company's principal business is the operation of these facilities, including sub-acute and post-acute skilled nursing care, senior living, and home health care services.

High-quality post-acute and long-term rehabilitative services

Quality metrics show NHC facilities generally outperform national benchmarks, which is a key draw for both patients and referral sources like hospitals. For instance, in Q1 2025, Medicare per diem rates showed solid growth, hitting $612.13, up from $581.75 the prior year.

• SNF CMS 5-Star Average (NHC): 3.6 (2024)
• SNF CMS 4- or 5-Star Facilities (NHC): 57% (2024)
• National SNF 4- or 5-Star Average: 35% (2024)
• Home Health Agency CMS 5-Star Average (NHC): 4.35 (2024)
• National Home Health Agency Average: 3.5 (2024)
• Total Skilled Nursing Patient Days (Q1 2025): 718,136

Stability and trust as the nation's oldest publicly traded senior health care company

The longevity of National HealthCare Corporation provides a foundation of trust. The company began business in 1971 and holds the distinction of being the nation's oldest publicly traded senior health care company. This history supports a financially sound operation, as evidenced by their balance sheet as of March 31, 2025, showing total assets at $1.55 billion and cash, cash equivalents, and marketable securities at $243.2 million. Furthermore, the commitment to shareholders is shown through a conservative dividend payout ratio of 39.03% for the year 2024.

Integrated care model keeping patients within the NHC system

The integration is physically demonstrated through strategic growth, such as the August 1, 2024, acquisition of White Oak Management, Inc., which immediately added 22 healthcare operations to the portfolio, including 15 SNFs and 2 ALFs. This model aims to capture revenue across the entire post-acute spectrum. For Q1 2025, Net Patient Revenues accounted for $361.6 million of the total $373.7 million in net operating revenues, showing that about 96.8% of the business is driven by direct patient care services.

Specialized Alzheimer's and memory care units

NHC's business explicitly includes providing memory and Alzheimer's care. They market a unique approach called The MINDful Way™, which focuses on five pillars for dementia care, including validating emotional experience and integrating life history into daily activities. This specialized offering addresses the high acuity trend in the sector, where cognitive decline diagnoses are happening earlier.

The demand for these specialized services is clear, with the Alzheimer's Association estimating 6.9 million Americans living with Alzheimer's or other dementias as of early 2025.

Finance: draft 13-week cash view by Friday.

National HealthCare Corporation (NHC) - Canvas Business Model: Customer Relationships

High-touch, long-term personal care for residents and patients is the core of National HealthCare Corporation's relationship strategy. This is evidenced by quality metrics that stand above the national benchmarks.

As of December 31, 2024, National HealthCare Corporation's skilled nursing facilities (SNF's) registered an average Net Promoter Score (NPS) of 60.0. This compares favorably to the national health care average of 38.0. Furthermore, 57% of National HealthCare Corporation's SNFs were rated 4- or 5-Star by the Centers for Medicare & Medicaid Services (CMS), significantly higher than the national rate of only 35% of skilled nursing facilities achieving that rating. For home health services, National HealthCare Corporation's 34 home health agencies posted an average CMS 5-Star rating of 4.35, against a national average of 3.5.

The scale of operations managed by National HealthCare Corporation necessitates dedicated clinical staff providing continuous care across service lines. As of the first quarter of 2025, National HealthCare Corporation affiliates operated 80 skilled nursing facilities with 10,329 beds, 26 assisted living communities with 1,413 units, and nine independent living communities with 777 units. This direct care infrastructure is supplemented by 34 homecare agencies and 33 hospice agencies.

The direct sales and admissions teams manage placement into this extensive network. The total net operating revenues for the trailing twelve months ending September 30, 2025, reached approximately $1.50 billion. For the quarter ended March 31, 2025, net operating revenues were $373,697,000.

Management service contracts with third-party operators represent a key relationship channel, often involving a fee structure based on performance.

Service Relationship Type	Fee Basis	Latest Reported Metric
Management Services	Generally charge 6% of facility net operating revenues	Net operating revenues for 9M 2025 were over $1.131 billion
Accounting Services	Monthly fee or a fixed fee per bed under contract	National HealthCare Corporation operates 80 SNFs with 10,329 beds

Patient and family engagement through facility-based programs is measured through satisfaction scores, reflecting the success of these interactions. The high Net Promoter Score indicates a strong likelihood of recommendation from patients and families.

• SNF Average Net Promoter Score (NPS) as of December 31, 2024: 60.0
• National Health Care Average NPS: 38.0
• Percentage of SNFs rated 4- or 5-Star by CMS (Dec 2024): 57%
• Home Health Agencies rated 4- or 5-Star by CMS (Dec 2024): 94%

The company's focus on quality care ratings is a direct investment in the long-term relationship with the patient base.

National HealthCare Corporation (NHC) - Canvas Business Model: Channels

You're looking at how National HealthCare Corporation (NHC) gets its services in front of patients and clients across its integrated care continuum. The channels are primarily the physical locations where care is delivered, supplemented by professional referral networks and direct outreach.

The physical network forms the backbone of National HealthCare Corporation's channel strategy, allowing them to offer a full spectrum of post-acute and senior care services, which is key to keeping patients within the NHC system.

Here is the breakdown of the physical assets that serve as primary delivery channels as of August 1, 2025:

Channel Type	Count/Capacity	Key Metric/Detail
Skilled Nursing Facilities (SNFs)	80 facilities	10,329 licensed beds operate for themselves and third parties
Assisted Living Communities	26 communities	1,413 units
Independent Living Communities	9 communities	777 units
Behavioral Health Hospitals	3 hospitals	Specialized acute care services

The SNF channel, being the largest by bed count, shows strong performance metrics that reflect the effectiveness of this channel in attracting and retaining patients. For instance, the average CMS 5-Star rating across these 80 SNFs was 3.6, with 57% of facilities rated 4- or 5-Star by CMS, significantly above the national average of 35%. Also, the average Net Promoter Score (NPS) for NHC SNFs was 60.0, compared to the national healthcare average of 38.0.

For in-home services, National HealthCare Corporation utilizes a network of agencies to deliver care outside of its facility walls. This addresses the growing preference for aging in place.

• Homecare Agencies: 34 agencies
• Hospice Agencies: 33 agencies

The quality channel for homecare agencies is also statistically strong; the 34 home health agencies had an average CMS 5-Star rating of 4.35, against a national average of 3.5.

Beyond the owned and operated facilities, National HealthCare Corporation uses referral sources and direct outreach to fill beds and secure patient volume. These are critical soft channels that feed the physical network. The primary mechanisms for patient acquisition are:

• Hospital discharge planners: Key professional referral source for post-acute and skilled nursing admissions.
• Direct-to-consumer marketing: Efforts targeting seniors and families seeking assisted living, independent living, or in-home services.
• Management Fee Income: Providing management and accounting services to eight third-party facilities, which serves as a channel for relationship building and potential future acquisitions.

The success of these referral channels is reflected in the operational volume; for example, total SNF patient days expanded to 729,519 in the second quarter of 2025. This volume is directly tied to the effectiveness of the referral and direct marketing channels feeding the SNF beds.

National HealthCare Corporation (NHC) - Canvas Business Model: Customer Segments

The customer base for National HealthCare Corporation (NHC) is segmented across the continuum of post-acute and long-term care needs, heavily influenced by the payer source that funds the care delivery.

Post-acute patients requiring short-term skilled nursing and rehabilitation represent a core, high-acuity segment. This group drives the higher-reimbursement Medicare revenue stream. For the quarter ended September 30, 2025, total skilled nursing patient days reached 740,373. You can see the payer mix impact on per diem rates, which is critical for this segment.

Long-term care residents needing continuous medical and custodial support form the foundation of the stable, recurring revenue base, often funded by Medicaid or private pay.

The operational scale supporting these segments as of the first quarter of 2025 filings includes:

Service Type	Facilities/Agencies Count	Total Capacity/Units	Latest Reported Per Diem (Q1 2025)
Skilled Nursing Facilities (SNF)	80	10,329 beds	Medicare: $612.13
Assisted Living Communities (AL)	26	1,413 units	Medicaid (SNF): $281.67
Independent Living Communities (IL)	9	777 units	Average SNF Per Diem (Q2 2025): $361.42
Behavioral Health Hospitals	3	N/A	N/A

The patient mix utilizing National HealthCare Corporation facilities is directly tied to government and commercial payers. The financial performance of the skilled nursing segment is highly sensitive to the rates negotiated with these entities.

Patients utilizing Medicare, Medicaid, and Managed Care insurance are the primary payers for the inpatient services. The revenue quality is clearly visible in the per diem rates achieved:

• Medicare per diem increased to $612.13 in Q1 2025 from $581.75 the prior year.
• Medicaid per diem rose to $281.67 in Q1 2025 from $265.27.
• The overall average skilled nursing per diem was reported at $361.42 for Q2 2025.

It's important to note that while volumes were robust, the Managed Care per diem dipped in Q3 2025 due to delayed quality incentive payments, even as ex-incentives MA per diem grew by 2.7% year-over-year.

Seniors seeking assisted living or independent living residential care are served through the AL and IL communities, which are part of the inpatient services segment. Net operating revenues for this entire segment were strong, with Q3 2025 net operating revenues hitting $382.661 million, with Net Patient Revenues accounting for about 96.8% of the total $373.7 million in net operating revenues for Q1 2025.

Third-party healthcare facility operators for business services form a smaller, yet strategic, customer segment. National HealthCare Corporation provides management and accounting services fees to these external operators. This segment falls under the "all other" category, which also includes rental income and insurance services, helping to diversify the revenue base beyond direct patient care.

National HealthCare Corporation (NHC) - Canvas Business Model: Cost Structure

You're looking at the core spending that keeps National HealthCare Corporation (NHC)'s facilities running, which is heavily weighted toward personnel and property. Honestly, in this industry, labor and real estate are almost always the biggest line items, and the numbers from late 2024 confirm that trend for National HealthCare Corporation (NHC).

Salaries, wages, and benefits (largest cost driver)

This is the engine room of the cost structure. For the fourth quarter ended December 31, 2024, salaries, wages, and benefits for National HealthCare Corporation (NHC) reached $234.32 million. This was a significant jump compared to the $186.56 million reported for the same period in the prior year, reflecting both industry-wide cost pressures and the expanded footprint from acquisitions like White Oak Manor.

Facility operating expenses (utilities, supplies, maintenance)

These are the day-to-day costs to keep the lights on and the care flowing. While a single, consolidated figure for all utilities, supplies, and maintenance across all operations isn't explicitly itemized in the same way as labor, the broader category of Total Operating Expenses for the full year 2024 was $410.69 million. Other operating expenses, which would encompass many of these items, totaled $91.94 million for Q4 2024.

Rent and lease expenses for real estate holdings

Leasing arrangements form a substantial part of the fixed cost base. For the first quarter ended March 31, 2024, National HealthCare Corporation (NHC) reported facility rent expenses of $77,429,000. This figure is separate from other operating costs and represents the base commitment for their leased properties.

Here's a quick look at some of the key expense components based on the latest available quarterly and annual figures:

Cost Component	Period	Amount (USD)
Salaries, Wages, and Benefits	Q4 2024 (Quarterly)	$234,320,000
Facility Rent	Q1 2024 (Quarterly)	$77,429,000
Other Operating Expenses	Q4 2024 (Quarterly)	$91,940,000
Total Operating Expenses	Full Year 2024 (Annual)	$410,690,000

Costs associated with integrating strategic acquisitions

The August 1, 2024, acquisition of the White Oak portfolio, which added 22 healthcare operations, immediately impacted the cost base through expansion and integration efforts. While specific integration costs are not isolated, the growth in Total Operating Expenses reflects absorbing these new operations. The company also records operating results for newly opened operations not yet at full capacity, which was a factor in 2024 results.

Regulatory compliance and insurance costs

National HealthCare Corporation (NHC) manages a significant portion of its risk internally. The company owns a Tennessee domiciled insurance company that provides workers' compensation coverage for substantially all of its owned, leased, and managed healthcare facilities as of December 31, 2024. This structure centralizes a key compliance and risk management cost.

The cost structure also includes other significant, though less granularly detailed, items:

• Depreciation and amortization for the year ended December 31, 2024, was a material non-cash charge.
• Interest expense for Q1 2024 was $10,048,000.
• General and administrative expense for Q4 2024 was $11.33 million.

Finance: draft 13-week cash view by Friday.

National HealthCare Corporation (NHC) - Canvas Business Model: Revenue Streams

You're looking at the top-line numbers for National HealthCare Corporation (NHC) and seeing solid growth, which is what we expect from a company with this kind of operational footprint. The revenue streams are heavily concentrated in direct patient care, which is the core of the business, but the diversification across different care settings helps smooth out any payer mix volatility.

The most recent quarterly data confirms this concentration. For the third quarter of 2025, National HealthCare Corporation reported net operating revenues of $382,661,000. This figure reflects both organic momentum and the impact of strategic growth moves, like the White Oak acquisition.

To break down where that revenue comes from, looking at the first quarter of 2025 gives us a clear picture of the revenue composition. Net Patient Revenues from direct services were the overwhelming driver, accounting for approximately 96.8% of the total Q1 2025 revenue base. The remaining portion comes from other ancillary and management services.

The revenue generation is directly tied to the scale of National HealthCare Corporation's operations as of late 2025. Here's a look at the physical and service capacity that underpins these revenue streams:

Revenue Source Category	Facility/Service Type	Capacity Metric	Count/Amount (Q1 2025 or Latest Available)
Net Patient Revenues (Direct Services)	Skilled Nursing Facilities (SNFs)	Beds Operated (as of Nov 1, 2025)	10,329 beds
Net Patient Revenues (Direct Services)	Assisted Living Communities	Units Operated (as of Nov 1, 2025)	1,413 units
Net Patient Revenues (Direct Services)	Independent Living Communities	Units Operated (as of Nov 1, 2025)	777 units
Net Patient Revenues (Direct Services)	Skilled Nursing Patient Days (Q3 2025)	Total Patient Days	740,373 days
Other Revenues	Q1 2025 Other Revenues	Amount	$12,100,000

The direct patient revenue stream is segmented by payer, which is crucial for modeling cash flow stability. You'll see the mix is heavily influenced by government programs, but private pay remains a vital component for higher-margin services.

• Net Patient Revenues from direct services (approx. 96.8% of Q1 2025 revenue)
• Medicare and Medicaid reimbursements for skilled nursing care
• Private pay revenue from assisted and independent living residents

Also, don't forget the smaller, but still important, revenue sources that support the core operations. These are the other revenues from pharmacy, rehabilitation, and management services, which provide service diversification.

For example, the Q1 2025 breakdown shows that Net Patient Revenues were $361.6 million out of total net operating revenues of $373.7 million. This leaves the other revenue streams-pharmacy, rehab, and management services-contributing the remaining $12.1 million in that quarter. Finance: draft 13-week cash view by Friday.