Occupancy Increases Again
Nursing home occupancy continues to climb from its pandemic low of 74% in the first quarter of 2021 to 79% currently. The upward trend in occupancy occurs in assisted living, home health services, and independent living.
Mergers and acquisitions in the nursing home sector made up 40% of all senior care deals in June.
Robert Applebaum, director of the Ohio Long-Term Care Research Project at Miami University, believes a recession could be good for nursing homes amid the current staffing shortages:
“When unemployment goes up, nursing homes do better on the worker side because they can still get workers. When unemployment is low, like it is right now, they are in a world of hurt.”