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Reforms follow deadly year in New York nursing homes startribune.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from startribune.com Daily Mail and Mail on Sunday newspapers.
Reforms follow deadly year in New York nursing homes apnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from apnews.com Daily Mail and Mail on Sunday newspapers.
Reforms follow deadly year in New York nursing homes washingtonpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from washingtonpost.com Daily Mail and Mail on Sunday newspapers.
Reforms follow deadly year in New York nursing homes middletownpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from middletownpress.com Daily Mail and Mail on Sunday newspapers.
Tom Dinki/WBFO file photo New York nursing homes will be required to put nearly three quarters of their money toward caring for residents, as a nursing home profit cap was included in the 2021 New York State budget. The profit cap, also called a medical loss ratio, was tucked away in the Health and Mental Hygiene budget bill. The state Senate and Assembly passed the $212 billion budget Wednesday.
The cap will mandate nursing homes put at least 70% of their revenue toward direct care. Of that 70%, at least 40% will have to go toward paying nurses.
The push to curb nursing home profits came as a result of 15,000 New York nursing home residents dying of COVID-19 during the pandemic. Advocates and lawmakers say the deaths were a byproduct of longstanding issues in the long-term care industry, such as understaffing and owners valuing profits over care.
NY to cap nursing home profits, repeals COVID liability protections the-leader.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from the-leader.com Daily Mail and Mail on Sunday newspapers.
N.Y. budget deal caps nursing home profits, requires more spending on care timesunion.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timesunion.com Daily Mail and Mail on Sunday newspapers.
New York lawmakers and Gov. Andrew Cuomo struck a budget deal that capped nursing home profits and established how much the long-term care facilities must spend on resident care and staffing. The nursing home industry reforms include a 5% cap on profits as well as requiring facilities to spend a minimum of 70% of revenue on direct resident care, according to budget documents released Tuesday. Nursing homes must also spend a minimum of 40% of revenue on resident-facing staffing, provided that the amount shall be included as part of the spending on resident care. The new provisions would take effect January 1, 2022, the documents show.
New York lawmakers and Gov. Andrew Cuomo struck a budget deal that capped nursing home profits and established how much the long-term care facilities must spend on resident care and staffing. The nursing home industry reforms include a 5% cap on profits as well as requiring facilities to spend a minimum of 70% of revenue on direct resident care, according to budget documents released Tuesday. Nursing homes must also spend a minimum of 40% of revenue on resident-facing staffing, provided that the amount shall be included as part of the spending on resident care. The new provisions would take effect January 1, 2022, the documents show.
NY budget makes nursing home operators spend more on staffing, take smaller profits Updated 10:59 AM; Facebook Share Albany, N.Y. — New York nursing homes will have to spend more of their revenue on staffing and keep less in profits under a provision in the state budget approved Tuesday. Nursing homes will have to spend at least 70% of revenue on direct resident care. Of that amount, 40% must be spent on nurses, certified nurse aides and other staff who work directly with residents. The provision also caps profits at 5%. When total operating revenue exceeds expenses by more than 5%, the excess revenue must be turned over to the state. The state will redistribute the money to nursing homes to help them improve quality.