“Inflation jumps 8.5% in a year for nursing goods and services, tripling the number of residents at risk of displacement”

“Inflation jumps 8.5% in a year for nursing goods and services, tripling the number of residents at risk of displacement,” by Danielle Brown, McKnight’s LTC News

 

Quote:

“Rising inflation and increased labor costs are multiplying the risk of closure for skilled nursing facilities across the country, according to a new analysis released Wednesday by CliftonLarsenAllen and the American Health Care Association. … Economists expect even more increases through the end of the year, and possibly into 2023, which is more bad news for providers. Nursing homes rely almost entirely on fixed-rate government payments. ‘Increasing costs will put more nursing homes at financial risk,’ AHCA noted.”

 

 

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

Longstanding public policy crowded out private LTC financing. This is the result. For the solution, see Medicaid and Long-Term Care.