Skilled Nursing News August 12, 2024
Quantity, by virtue of an aggressive growth strategy at PACS Group (NYSE: PACS), has not impacted quality at its facilities, executives said. In fact the opposite has been true, and the resulting quality gains are also one of the reasons for the company’s strong second quarter.
The company’s model is based on successfully turning around distressed facilities in carefully chosen regional markets — a strategy that also takes into consideration factors such as availability of workers, quality of leadership and a chance to increase reimbursement rates through quality improvements.
“Our teams continue to make operational improvements in our newly acquired facilities, which resulted in a 29% year-over-year increase in cost of services,” CFO Derek Apt said during the company’s quarterly...
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