About 25 percent of nursing homes expect to survive in 2021
A new survey reveals that roughly just one-quarter of nursing homes reported feeling confident that they could last one year or more following the economic devastation of the COVID-19 pandemic, which had an intense effect on nursing homes as the institutions emerged as one of the first COVID-19 hotspot locations.
Based on an analysis conducted by the American Health Care Association and National Center for Assisted Living (AHCA/NCAL), which surveyed more than 600 nursing homes and 120 assisted living facilities, more than half of the nursing homes and nearly half of the assisted living communities said that they are operating at a profit loss.
This financial crisis is largely due to large drops in revenue from admitted patients. In addition to the previous statistics, 84 percent of nursing homes report losing revenue due to fewer patients coming from hospitals.
Read the full article from The Hill here.
