Erickson Retirement Communities, a major developer of continuing care retirement communities, will eliminate more than 250 full- and part-time positions in reaction to turmoil in the financial markets, the company said Thursday.

John Erickson, founder of Erickson Retirement Communities, a major senior living company, has stepped down from his post as the company's CEO, effective immediately.

Sunrise Senior Living Inc. took some defensive action to avert a potential takeover after its stock hit a new low this week, plummeting to $0.38 per share, a news report said.

Sunrise Senior Living Inc., the largest assisted living chain in the United States, lost nearly $69 million in the third quarter of 2008. That reportedly is the company's worst loss in eight years.

A new survey of healthcare leaders finds that almost all feel the current healthcare payment system is fundamentally flawed and must be reformed. An overwhelming majority favor bonuses for high-quality outcomes and more efficient care.

Kindred Healthcare Inc. widened its loss in the third quarter to $21 million or $0.56 per share, while revenues grew by a slight 1%.

Hospitals that serve large groups of the elderly, poor, African-American or female patients tend to be ranked lower than hospitals with healthier, younger clientele under the Medicare pay-for-performance program, according to new research from the Duke Clinical Research Institute.

Times are tough economically, but they're not impossible, said Larry Minnix, president and CEO of the American Association of Homes and Services for the Aging, in an interview with McKnight's on Monday.

Golden Living should be synonymous with quality care, Dr. Neil Kurtz, the new CEO and president of Golden Living, told McKnight's this week.

The controversial $700 billion bailout plan signed by the president last week is likely to have a positive effect on long-term care housing, according to an expert from the American Association of Homes and Services for the Aging.