McKnight’s reported a disturbing study on how much money nursing homes divert to related parties with common ownership. Greater costs especially in real estate (20%) and management (25%) occur. UCLA and Lehigh University researchers found as much as 63% of nursing home profits in Illinois were hidden from state regulators using related party transactions in 2019.
The Conversation published a recent article from Charlene Harrington and Sean Campbell. It is an INCREDIBLE article that explains the problems with the financial shenanigans of the industry. See article below but please visit The Conversation. The care at Landmark of Louisville Rehabilitation and Nursing was abysmal when state inspectors filed their survey report of
Industry publication McKnights reported that Providence Group chain is going public. Providence Administrative Consulting Services or PACS Group, a Utah-based nursing home operator that has quickly become one of the nation’s largest, filed paperwork to become a public company. Founded in 2013, PACS now manages more than 200 post-acute facilities, most of them nursing homes,
Private equity funds owning nursing homes can have several negative implications for the quality of care and well-being of the residents. Care from for-profit private equity firm provide lower quality of care, and more abuse and neglect as a result. The rate of serious medical complications increase after they were purchased by private equity investment firms. The
The Alabama Supreme Court ruled that cells awaiting implantation for in vitro fertilization are children. The Alabama Supreme Court decided in a wrongful death suit resulting from the destruction of embryos that were part of an in vitro fertilization (IVF) process, in which doctors artificially fertilize eggs outside the womb and then transfer them into
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