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Paying for Nursing Home Care
Nursing homes are big business. Total nursing home revenues have topped 55 billion dollars. The 10 largest publicly-traded nursing home chains control 1/4 of this country's nursing home beds. They often pay fees to related companies, or their own subsidiaries to provide management, dietary or other services to the facilities they own.
Other nursing homes are privately owned, or are charity-related, non-profit organizations. Many of these homes, are also managed by for-profit management companies. Be sure to ask who operates the facilities you visit and ultimately place your family member.
Changes in the Medicare reimbursement formula have temporarily reduced overall revenues (after intense lobbying, Congress amended the original reimbursement cuts so nursing home operators will receive more funding...) these changes subsequently reduced stock prices for publicly traded nursing home companies.
Click on the topics above for more information on financing alternatives and a summary of how to avoid nursing home abuse.
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Paying for Care