The Bottom Line

Jan 31, 2022
newsroom

Facilities in long term care have a lot going against them right now. Facilities have worked hard to navigate the pandemic in order to keep residents and staff safe. But, the COVID-19 impacts have been so incredibly devastating for so many residents, families and staff. COVID-19 has extensively exacerbated previously known industry issues (census declines, finance issues, staffing etc.). Currently, a large number of long term care facilities are in financial peril and could be in danger of heading towards out right closure or acquisition. The pandemic impact has proven to be a time of increased consciousness about long term care and subsequently consumers are getting more information and thus becoming more demanding about their healthcare choices and certainly about care quality. The kinds of services that can be provided in long term care facilities will certainly be needed as we move forward but so much has to change. COVID-19 will likely (hopefully) be a catalyst for effective change.

Some of the issues at hand (reimbursement methodologies, funding, regulatory constraints, etc.) in the long term care industry are completely out of the purview of control by owners and operators. And as reimbursement moves in alignment with pay for performance (compliance, risk management, outcomes and care quality) facilities are no longer able to just concentrate on reimbursement in singularity. The increased areas requiring attention as well as the amount of increased work is a reality. The future sustainability of long term care is now intrinsically connected to a dedicated focus on so many areas-many of which facilities can and should work on in order to improve their positioning for long term success and sustainability. These include a reassessment of all operational areas especially those that may have been neglected during the pandemic, a utilization of effective, collaborative and beneficial processes and technologies, investment in relationship building and partnerships and utilization of trusted outside “intervention specialists” (aka consultants) to assist. The bottom line has moved.