Too many long-term care operators let potential "noble" payoffs get in the way of basic marketplace realities when it comes to pondering why staff turnover is so high.
It's not quite in the dirty-little-secret category, but here it is: The nation's recent economic downturn was good for the bottom line at many urban long-term care facilities. Change appears to be on the way.
SNF administrators are seeing the biggest hike, although all nursing home staff saw increases in their paychecks this year. Yet economists warn the trend might not stick around.
Nursing home administrators' salaries increased by slightly more than 3% between 2012 and 2013, according to a recent report. Administrators now receive an average salary of $96,625, as compared to last year's $93,419 average, according to the Hospital & Healthcare Compensation Service's 2013-2014 Nursing Home Salary & Benefits Report.
Continuing care retirement community executive directors are earning an average annual salary of $148,007 this year, which is close to a 6% increase from 2012, according to a new report. CCRC chief financial officers and controllers saw comparable salary increases as executive directors, the report states.
Assisted living administrators' national average salary was $77,729 in 2012, according to the newly released 2012-2013 Assisted Living Salary & Benefits Report.
States should allow a broader scope of practice among healthcare providers to improve access to care, rather than have the federal government base Medicare payment adjustments around geographic locations, an Institute of Medicine analysis says.
The news is getting better for nursing home directors of nursing: they saw an average salary increase of 2.47% in 2011, according to a new report published by the Hospital & Healthcare Compensation Service. In 2010, nursing home DONs had an average salary increase of just 1.96%.
Assisted living administrators' national average salary was $71,272 in 2010, according to the new 2010-2011 Assisted Living Salary & Benefits Report. Assisted living directors of nursing, meanwhile, had an average salary of $63,571. Hospital & Healthcare Compensation Service and LeadingAge (formerly AAHSA) formally issued the report, with support from the National Center for Assisted Living.