9 & 10 News
December 17, 2020
New data shows that thousands of nursing homes across the country are months away from closing after huge financial hits in 2020.
The National Center for Assisted Living surveyed 953 nursing homes and 65% say they’re operating at a loss or negative total margin, and just 34% say they can operate for a year or more with their current pace.
Many facilities have incurred huge costs to supply PPE, build protective infrastructure and hire additional staff or pay existing employees overtime during this pandemic.
“We did have to invest, you know, things like the PPE, and the tents, and the infrastructure, and all the technology we’ve had to invest in, probably is an extra 50 to $60,000 of operating expenses for us in a year,” said Cordia CEO Karen Anderson. “While that’s impactful, it’s not it’s not devastating.”