Skilled Nursing News November 5, 2024
The long-term financial viability of nursing homes will be seriously challenged as operators face the fallout from the complete wind down of public health emergency (PHE) funds. This is especially true for nonprofit organizations, with many facilities unable to fund existing staffing levels.
According to a report published in Health Affairs Covid-19 PHE funds allowed nursing homes to remain profitable through 2021. However, by 2022, for-profit nursing homes had overall net incomes of $1.68 per resident day, while nonprofits saw a $31.18 loss per resident day as PHE funds were rolled back.
“Our data shows that many nursing homes do not have enough funds to cover existing staffing levels, let alone the higher staffing levels that [the Centers for Medicare...
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