The health care crisis in America isn’t ignoring skilled nursing homes. Rising healthcare costs and continued reductions in Medicaid reimbursements are taking their toll on the industry. On October 1st of 2012 an 11.1% reduction in federal Medicare reimbursements are making the feel an even greater pinch.
This means some facilities will be forced to close while others will have to find other ways to secure funding.
What’s Behind The Crisis?
- The huge surge in the baby boomer population that now requires the care of a skilled nursing facility.
- The financial crisis of the past few years had meant reduced home values so less money for the elderly to finance their care.
- People are living longer so their funds may run out long before they still need them.
- The gap between the cost of a nursing home and what they receive from Medicaid and Medicare is widening and this is becoming unbearable for many facilities. Moving that increased cost onto private payers is becoming less of an option as private payers won’t be able to meet the higher costs either.
Reducing staff or other cost cutting measures don’t have much of an impact on financial health, but they do have a drastic effect on patient care. Overworked caregivers are also much more likely to leave sooner and the continued turnover greatly reduces efficiency which leads to even more money lost.
A survey by the Alliance for Quality Nursing Home Care shows the recent Medicare reimbursement reduction will result in at least 20,000 potential job layoffs and prevent the creation of another 20,000 new jobs in skilled care nursing facilities nationwide.
This will mean longer waiting lists as facilities close or patient intake is reduced due to lack of staff and loss of revenue. So patients may be in poorer health when they finally gain a place and this also drives up the cost of their care. The growing number of Alzheimer’s and dementia patients will also have an effect as they will require more specialized attention.
This continued spiral needs to be addressed from numerous fronts to stave off an even bigger health care crisis as more and more aging baby boomers require more care than friends and family can provide.
Business meeting management is hard to achieve, especially when things are not going the way they should be. A business meeting is like an employee. When things are not going ...
February 28, 2011 – Phones Plus, Inc., an industry leader in unified communications, announced today that the company is relentlessly educating its customers on the latest technologies designed to increase ...
Visited with one of our awesome long time business partners Equity Creative. This is their second location since we have been partnering with them and they continue to grow. Equity ...
Many businesses today are worried about how their customers or patients are going to reach them after normal business hours in case of an emergency. Many times the solution ends ...
This week, we are trying to really focus on learning all we can about Zultys products. It was fairly recently that we became a Zultys authorized dealer and we want ...
MJ Care, one of DataComm Plus's partners, has started up a non-profit called the MJ Care Foundation Assistance Program. This program is dedicated to supporting the career development of physical therapists, physical therapist ...
Here we go! Entering into a new time where social media is going to become a more prominent part of our business to help us share more easily and seamlessly ...
Are you looking for a communication tool for your business that allows instant messaging and collaboration? If your company uses Microsoft® Exchange Server and Microsoft Outlook®, Microsoft Lync® is perfect ...
You have mastered the video conferencing basics. Things are going smoothly. Have you asked yourself if any improvements could be made to your setup, though? When it comes to video ...
When used correctly, social media platforms are a great way to engage with both potential and current customers. DataComm Plus has compiled a list of mistakes businesses often make when ...
Business Meeting Management: How to End Unproductive Gatherings
Phones Plus, Inc. Increases Customer Profitability in a
A visit with our long time business partner
How emergency mailboxes can increase productivity while saving
MJ Care creates Tuition Assistance Program for Therapists
Getting Started on Utilizing Social Media Tools
Video Conferencing How-to
5 Social Media Mistakes your Business Could be