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More for-profit investment groups are buying skilled care nursing facilities and experts say the only way for them to be profitable is to reduce the quality of care.
Shelly Olson's mother, who has dementia, has lived at the Scandia Village nursing home in rural Sister Bay, Wisconsin, for almost five years. At first, Olson said, her mother received great care at the facility, then owned by a not-for-profit organization, the Evangelical Lutheran Good Samaritan Society.
For-profit groups own more than 70% of U.S. nursing homes. Industry leaders and researchers wonder whether corporations and investors can succeed where not-for-profit organizations have struggled. Or, will quality of care suffer in the name of making money?
Industry leaders and researchers wonder if investors can succeed where nonprofits struggled. Or will quality of care suffer in the name of making money?
Four of Habersham Medical Center's top executives have been laid off as it looks to cut costs before joining Gainesville-based Northeast Georgia Health System.