Vulnerable Populations Pay the Price as U.S. Nursing Home Chains Crumble Under Risky Financial Choices
The Long Term Care Community Coalition, in partnership with the Center for Medicare Advocacy, is preparing a strong agenda for 2019 starting with a joint statement concerning the chaos that has occurred in the nursing home industry as operators, even those of large care groups, are undertaking money hungry risks at the cost of their own staff resources and vulnerable patient residents. The joint statement highlighted investigative findings reported by The Washington Post, The Kansas City Star, The Philadelphia Inquirer and The New York Times of these U.S. nursing homes chains.
- The Carlyle Group bought HCR ManorCare and each year since the number of health deficiencies at the chain rose 26 percent. The Carlyle Group then went on to sell ManorCare’s real estate collection for more than $6 billion dollars but inevitably faced bankruptcy in 2018 after not being able to pay rent to the new owners.