The Nursing Home Merry-Go-Round
It has been speculated that approximatelyup to one half of nursing homes in the United States are operating at a financial loss. And, approximately one quarter of these facilities are at significant risk of going out of business. Reimbursement changes, increased expenses, staffing issues, decreased census, uncertain and questionable regulatory responses and more only intensify the precarious situation nursing homes find themselves in today.
Interestingly though, regardless of the current financial woes of the industry nursing home acquisitions continue to grow. Nursing home buyers from physician groups to private investment firms to healthcare management companies and others are taking advantage of the chaotic environment presumably with purchase friendly financing. Despite the needed push for development of alternate care provision sites and despite government backed home based care expansion nursing home buyers realize one thing…that there will always be a need for nursing home facilities in whatever future form they take shape in.
Nursing home residents, families and staff are of course the ones who always feel the negative effects of any facility upheaval. But unless owners and operatorsimplement advised, proven processes and utilize effective resources for their facilities they will continue on the never ending deleterious merry- go-round ride of “inactivating”, selling and buying of nursing homes. Owners and operators, make the ride stop! Maintain financial vitality, service quality excellence and consistency for your facilities and their communities by engaging in and capitalizing on partnerships with industry leading healthcare consulting experts like Microscope. Such partnerships are not a luxury - they are a vital necessity for you, for residents and for the community.
For information on Continuing Care & Long Term Care and how we can help your organization, please reach out to our Senior Director: