Skilled Nursing News August 16, 2024
Right-sizing is crucial and tricky for nursing home operators, as demographics are driving demand but also contributing to labor shortages. Ultimately, providers must weigh several factors in order to create businesses that are successful today and sustainable for the future.
“It’s about the right service offerings, which sometimes means shrinking your physical footprint and asking, ‘Are we the right size?’” said Jim Stradiot, principal at Plante Moran, speaking at the recent LeadingAge IL conference near Chicago.
However, many operators tend to focus on short-term issues due to financial constraints and often overlook simple, practical solutions that, with patience, can yield long-term benefits.
Stradiot and Joe Donovan, senior manager at Plante Moran, discussed ways to enhance margins, revenue cycles, and operational...
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