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Joseph Schwartz of New York pled guilty to a $38.9 million employment tax fraud scheme within a nursing home. Schwartz admitted that he failed to send payroll taxes to the Internal Revenue Service, and that he failed to file an annual financial report with the U.S Department of Labor for the 401(k) benefit plan of
The US finds itself amidst a serious issue: healthcare rates are increasing faster than inflation, specifically in the nursing home industry where costs are rising by 4.5% compared to the 2.6% inflation rate. This is not sustainable. Healthcare is a necessity, not a luxury. If everything else is getting more expensive, and something as necessary
The recent fraud allegations against PACS Group, Inc. offer a disturbing glimpse into the broader systemic financial exploitation that plagues the nursing home industry. A forensic report released by Hindenburg Research accuses PACS Group of manipulating COVID-era waivers to improperly access SNF Medicare benefits. That is horrible. These waivers, intended to streamline care for patients
Skilled Nursing News had a great article on nursing home mergers and acquisitions (M&A) projected for 2025. “Sufficient reimbursement, less regulation and adequate staffing are all attractive features for dealmaking, impacting operator decisions on which states and regions offer the path of least resistance when it comes to expanding their footprint.” The article offers a
McKnight’s reported on a recent study published in Alzheimer’s & Dementia which highlights a troubling reality in the nursing home industry: dementia patients are admitted to lower-rated nursing homes at disproportionate rates compared to non-dementia patients. The data shows that only 52% of dementia patients are placed in four- or five-star facilities, while 23% end up
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