Studies and investigations have shown that private equity owned nursing home facilities are “tunneling funds” to hide profits as fees to related entities or affiliated companies. These companies are common ownership or common control. Facilities claim they are broke but they are actually pocketing the money towards real estate and management fees. The taxpayer money
Nursing home leadership is needed for quality of care. Administrators are often financially restricted because tunneling to related entities making their job difficult. Turnover is a major problem in the industry. High administrator turnover rates place the facility at risk for mismanagement and poor performance in violation of 42 CFR 483. 70. Studies have found
McKnight’s reported on the growth of a new nationwide for profit chain called PACS or Providence. PACS Group, Inc. is a holding company whose subsidiaries comprise a rapidly growing national platform investing in post-acute care facilities, professionals, and ancillary services. PACS recently became public, with just over 200 facilities. The CEO of PACS is Jason
Skilled Nursing News reported industry apologists complaining about data on nursing homes on CMS.gov. Marc Zimmet, president of Zimmet Healthcare Services Group, is a well known industry apologist who defends nursing homes in civil litigation after the neglect and abuse of vulnerable adults caused by unsafe staffing and siphoning of taxpayer funds. He argues that
Skilled Nursing News reported a recent study on high turnover affects the quality of care in nursing homes. Studies have been conducted to research the high staff turnover rates in skilled nursing facilities. High staff turnover rates lead to a decline of the patients care as well as the patient staff relationships. They also hinder the
Nursing home caregivers and licensed staff need a supportive work environment. A new study indicates that Facilities should invest in mental health initiatives for employees to address and prevent the effects of toxic stress. Nearly three-fourths (73%) of 1,100 frontline workers were found to be at high or intermediate risk of toxic stress, according to
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