Nursing homes at Risk of Closure Amid Cuomo Scandal, Financial Loss
Long-term care facilities across the country are in dire financial stress as the industry continues to be at the epicenter of the coronavirus pandemic.
Since the outbreak began, long-term care residences, staff and resources have been stretched thin during the fight against COVID-19, and the additional costs have amplified the financial deficits facilities have seen in recent years.
“The business nightmare continues,” American Health Care Association CEO Mark Parkinson told FOX Business. “To operate a facility right now is almost impossible. You have unbelievable demands to make sure that staff and residents stay safe. You have very limited resources.”
According to Parkinson, the amount of money that nursing homes receive to take care of people is often less than $200 per day.