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Nursing homes “go bare” while owners rake in profits

Nursing homes have been claiming recently that rising liability insurance rates due to nursing home abuse and neglect lawsuits have been forcing the homes to choose between “going bare” and cutting back on services. However, as noted in Senior Care Investor, every single major nursing home player’s stock performance is up 10%. Genesis, Kindred, and Manor Care’s stock prices have risen 36, 38, and 38% respectively since January of this year. While the nursing homes claim that problems with understaffing and untrained employees are due to a lack of funds, their stocks continue to rise. Nursing home owners are living in expansive mansions while their patients are subject to terrible conditions and the worst kinds of elder abuse and neglect.