Patrick McCormick McKnight's Long Term Care News
Patrick McCormick

Patrick McCormick

Patrick McCormick, CPA, is a partner in Plante Moran’s senior care and living practice. He is based in the company’s Cleveland office.

Most recent articles by Patrick McCormick

The five big trends affecting all skilled nursing facilities

Skilled nursing facilities across the United States continue to face daunting challenges. The average SNF is only able to break even, reflecting increased competition, upward wage pressure in a tight labor market, and the preponderance of low-paying Medicaid patients. In many regions, operating margins are negative, suggesting that more facilities will soon be forced to…

Think your nursing facility has adapted to PDPM? The hard work may just be starting.

Skilled nursing facility leaders could be forgiven for breathing a sigh of relief now that the formal transition to the Patient-Driven Payment Model is behind them. Preparing for the biggest overhaul in Medicare reimbursements in two decades has been a challenging and stressful experience for the industry, where many facilities already operate on thin profit…

The path forward for struggling nursing homes

A convergence of market pressures is bearing down on the nursing home industry. Changing demographics, old infrastructure, new competition, rising labor costs and a plethora of never-ending reimbursement pressures have all battered what was once seen as a business with infinite demand.

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