Link: https://www.thinkadvisor.com/2021/01/30/covid-19-and-long-term-care-ltci-insider/
Excerpt:
The impact on the nursing home industry has been catastrophic!
With occupancy rates plummeting, this industry is in deep financial trouble.
The American Health Care Association and the National Center for Assisted Living (AHCA/NCAL) conducted a survey of 953 nursing home providers across the U.S. on their financial and staffing challenges.
Two-thirds of nursing homes operators say they won’t make it another year given current operating pace due to increased COVID-19 costs.
90% of nursing homes are currently operating at a loss or less than 3% profit margin.
65% are currently operating at a loss.
Author: Margie Barrie
Publication Date: 30 January 2021
Publication Site: Think Advisor