In a nutshell, troubled long-term care operators seem to be encountering this scenario with managed care companies: initial romance, followed by heightened accountability and reduced payments.
As federal debt negotiations continued Wednesday, an industry group unveiled its three-part plan for reform in post-acute care.
Nursing homes are planning to layoff direct caregivers, reduce employee benefits and cancel facility expansion plans as a result of cumulative Medicare and Medicaid cuts, a new survey finds.
It's interesting how some of the best old sayings come back in modern forms time and time again. That's what struck me after reading a news item we posted at mcknights.com Monday: "Established nursing home business practices will soon change, expert warns."
Market and policy changes will force skilled care operators to dramatically change their business practices, an industry analyst said Monday. Successful operators will need to demonstrate quality care, risk management expertise and an ability to find complementary partners, according to Dan Mendelson, Avalere Health's CEO.
The Medicare PPS skilled nursing facility final rule that was enacted Oct. 1 could result in 20,000 nursing home layoffs nationwide and another 20,000 jobs lost to abandoned expansion activity, according to results of a new national survey.
Federal regulators have boosted incentives for becoming part of an accountable care organization, drawing a more positive response from long-term care providers.
The Centers for Medicare & Medicaid Services' 11.1% reimbursement rate cut to skilled-nursing facilities will reduce Medicare payments to the entire sector by $79 billion over 10 years, according to a new report. The regulation, which is scheduled to go into effect Oct. 1, also will reduce national economic activity by $6.75 billion in FY 2012, according to a report released Monday by research firm Avalere Health.