Nursing homes, assisted living communities shutter in wake of financial losses
Many long-term care providers are struggling to stay afloat in the post pandemic era, and some are closing altogether. Lay media outlets are taking notice.
“The COVID-19 pandemic has placed increased financial pressures on nursing homes and assisted living providers who already operate at very slim margins,” James McCracken, president and CEO of LeadingAge New Jersey, told NJ.com
As previously reported, a fourth of nursing homes and assisted living communities participating in a recentsurvey by the American Health Care Association/National Center for Assisted Living say they are confident they can last a year or more. Most nursing homes and nearly half of all assisted living communities are now operating at a loss, according to the associations.