Survey shows financial toll pandemic is taking on nursing homes
Photo | Grant Welker
St. Mary Health Care Center in Worcester
More than half of nursing homes in a new survey say they're operating at a financial loss roughly five months into the coronavirus pandemic, and more than two out of three said they won't be able to sustain operations for another year at the current pace.
The survey from the American Health Care Association and National Center for Assisted Living, affiliated care advocacy groups, comes as nursing homes have played a major role in the pandemic, which has disproportionately hit older populations. In Central Massachusetts, 76% of coronavirus deaths have taken place in long-term care facilities, including nursing homes, according to the Massachusetts Department of Public Health. Across the state, the number is 66%.
Nationally, nearly 46,000 have died of coronavirus in nursing homes, according to the U.S. Centers for Medicaid & Medicare Services, or about 27% of all deaths. The total could be higher than that. The COVID Tracking Project has estimated 43% of deaths have taken place in long-term care facilities, despite those residents making up less than 1% of the country's population.
The nursing home survey, which was conducted in early August, shows nursing homes are taking a financial hit from the pandemic, with significantly increased costs for personal protective equipment, additional staff and testing. They've seen a drop in revenue, with 97% of nursing homes said they've lost revenue due to the pandemic.
In the survey, 55% of nursing homes said they're operating at a loss, and 40% said they can sustain operations at the current pace for only up to six months. Only 27% said they expect to be able to continue operations for more than a year.
Nearly 60% of nursing home funding comes from Medicaid, and the federal program covers only 70% to 80% of care, the American Health Care Association and National Center for Assisted Living said.
WBJ Web Partners
Most Recent
Most Recent
0 Comments