Despite the gross amount of profit nursing home operators rake in, the number of senior care facilities filing bankruptcy seems to stay consistent, if not increase, each year. 16 senior care facilities are projected to file bankruptcy this year. That’s up from 11 the previous year and 15 in 2023. This even includes health care
https://www.youtube.com/watch?v=pDipG8NBjZQ
Skilled Nursing News had an article about the golden age of occupancy and census as competent staffing continues to decline. As vulnerable adults in nursing homes across the U.S. experience hardship and abuse, two COOs of Senior Care share their view of how to increase profit in the senior-care industry. Both Andy Frasure, COO of
Elder exploitation cases highlight concerns about financial abuse in facilities, where residents may be particularly at risk of manipulation or theft. A 73-year-old woman from Union County, South Carolina, Carla Finley, has been arrested after authorities alleged she stole a total of $54,817 from a resident at Wesley Court Assisted Living Community in Boiling Springs.
A bankruptcy judge has approved Genesis Healthcare’s sale plan, which designates an affiliate of its controlling owner as the lead bidder and authorizes a $30 million debtor-in-possession loan from key landlords and private equity partners. The decision provides Genesis with immediate access to the funds needed to stabilize operations. Still, it has drawn criticism from
A federal judge recently ruled that Humana must face a class-action lawsuit for its use of artificial intelligence. In addition to being blatantly unethical, Humana has proven itself to be so embarrassingly lazy and cheap that they are using robots to deny care to its patients instead of people. Perhaps this is also because humans
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