Nursing homes facing economic crisis, possible closures amid unprecedented staffing shortage
Nursing homes across the U.S. continue to struggle with staffing shortages and higher operating costs, leaving nearly three-quarters of them facing possible closure, according to a new survey released by the American Health Care Association and the National Center for Assisted Living (AHCA/NCAL).
Nearly 60 percent of nursing homes across the country are operating at a financial loss and 61 percent are limiting new admissions due to staffing shortages, according to the survey. Meanwhile, operating costs at nursing homes have increased by an average of 41 percent over the past year.
Assisted living facilities aren’t faring much better, with 63 percent experiencing staffing shortages and 37 percent operating at a loss, according to the survey.
Read the full story from Biz Journals here.