Then came the doomsday prediction, with Parkinson claiming the mandate "threatens to shut down more nursing homes, displace hundreds of thousands of residents, and restrict seniors' access to care." 72% are for-profit(In March, KFF Health News reported that "for-profit groups own about 72% of the roughly 15,000 nursing homes in the United States, which serve more than 1.3 million residents." In addition, "900 not-for-profit nursing homes and senior living communities nationwide have changed hands [since 2015], with more than half of them acquired by for-profit operators.") And investors, including venture capitalists, private equity firms and real estate interests, have flocked like gold diggers, panning for the billions in taxpayer dollars paid to nursing homes each year by Medicare and Medicaid. "Folks that live in skilled nursing need a champion to take on this powerful industry and improve regulatory enforcement and oversight," Davies said, whose nonprofit sends ombudsmen into L.A. County nursing homes to monitor conditions and investigate complaints.

Source: Los Angeles Times May 10, 2024 21:58 UTC