New York State passed a new law that would ban nursing homes from paying out more than 5% in profits to owners and shareholders. 239 nursing homes filed a federal lawsuit aiming to block the law.
came from Medicaid, which pays a per diem for long-term residents. Another 10.9 percent came from Medicare, which is paid out at a higher rate for patients receiving higher-level, shorter-term care after a hospital stay.)on critical services in order to make massive profits for owners and investors. And they have new ammunition in the form of the recent lawsuit.
Departing from the usual claims of barely scraping by, the 239 named plaintiffs allege in the lawsuit that a profit cap would remove hundreds of millions in profits. Advocates like the LongTerm Care Community Coalition say these claimsthese facilities have been making money all along — the funds just haven’t been reinvested into patient care.
Departing from the usual claims of barely scraping by … these facilities have been making money all along — the funds just haven’t been reinvested into patient care. “It was shocking,” said LTCCC Executive Director Richard Mollot. “To actually divulge how much money they’re making, above a fairly nominal requirement, was really shocking to me.”
Using the 2019 profits reported in the lawsuit, LTCCC calculated that the facilities could have used those profits to pay annual salaries and benefits for anSo are nursing homes reaping profits or struggling to provide basic care? Their financial structures lie at the heart of this discrepancy. Over the past two decades, many nursing homes throughout the country have restructured their businesses by splitting their operations and real estate into separate LLCs.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
State Sen. Zellnor Myrie announces state funding for new climate careers initiative - New York Amsterdam NewsIn honor of Earth Day 2022, Brooklyn State Sen. Zellnor Y. Myrie announced this year's State Budget includes funding for an innovative partnership to connect young people from New York City to career pathways in climate and environmental science.
Read more »
New York investor bets on Dallas’ popular Henderson Avenue retail districtA New York-based real estate investment trust is now the largest property owner along East Dallas’ Henderson Avenue corridor. Acadia Realty Trust has bought...
Read more »
A peerless historian, writer and researcher: Christopher P. Moore - New York Amsterdam NewsChristopher Paul Moore could speak authoritatively on a wide spectrum of African American history and culture, and if you were lucky enough to pull him from his many activities at the Schomburg Center you had an incomparable resource at your beck and call.
Read more »
Make her day: Mother’s Day getaways - New York Amsterdam NewsThe last couple of Mother’s Day celebrations may have been muted because of COVID. That’s all the more reason to go for it this year. Treat your mother to a getaway.
Read more »
Mask mandates return to US college campuses as cases rise - New York Amsterdam NewsThe final weeks of the college school year have been disrupted yet again by COVID-19 as universities bring back mask mandates, switch to online classes and scale back large gatherings in response to upticks in coronavirus infections.
Read more »
Handful of New York City streets close Saturday for Car-Free Earth DayMany streets across New York City were closed Saturday for Car-Free Earth Day. LeahMishkin checked out some of the locations hosting green activities and performances this weekend.
Read more »