Providers bristle at analysis of private equity buyers
An analysis critical of care practices by nursing homes acquired by private equity groups fails to give a complete picture of quality in the nation's nursing homes, said Alan Rosenbloom, president of the Alliance for Quality Nursing Home Care, on Monday."The (New York) Times analysis concerns less than 10% of all nursing homes in America, and many of the problems noted involved only 5% of all homes ... and is far from representative of the total long term care quality picture," Rosenbloom said.
The Sunday Times report analyzed a survey that found that 60% of investor-owned facilities cut expenses and staff while at the same time boosting profits.
Facilities owned by private investment companies were 41% more profitable than the average skilled care facility in 2005, the Times reported. They also accounted for 19% more deficiencies, it noted.