I haven't read your entire article yet and will do so later. But I would like to address this statement: "There is evidence that private equity–owned nursing homes kill even more patients than the rest of that chronically underfunded and understaffed industry."
Nursing homes are not chronically underfunded and that industry was corrupt way before PE started their short term grift. Here is what is and has been going on the nursing home industry and no one is doing anything about this "misappropriation" of funds.
In reading the above report please note that Medicare costs include Medicaid dollars, they're just not broken out in this report which I think is unfortunate because it is actually Medicaid that is the predominant payer for nursing home care and it is predominantly Medicaid that is getting ripped off---and course CMS is completely complicit.
And yes, nursing homes are indeed critically understaffed and underpaid (esp. the direct care workers ) but that is due entirely to the above described shell game of siphoning off the money to the "related parties".
No argument here. It's may be better to say that the looting you describe makes it impossible to tell if the industry is actually underfunded or not. I don't think we really know in this country what it takes to deliver real, compassionate long term care because we've seen so little of it, but I'll defer to your deeper knowledge and thanks so much for the links. Your critical point, that the nursing home "industry was corrupt way before PE started their short term grift" parallels the point that the piece argues with acute care hospitals and physician practices.
I haven't read your entire article yet and will do so later. But I would like to address this statement: "There is evidence that private equity–owned nursing homes kill even more patients than the rest of that chronically underfunded and understaffed industry."
Nursing homes are not chronically underfunded and that industry was corrupt way before PE started their short term grift. Here is what is and has been going on the nursing home industry and no one is doing anything about this "misappropriation" of funds.
"Approximately 75% of American nursing homes siphon money from the facility using a complicated corporate web of related entities called related party transactions. This includes non-profit nursing homes as well." https://kffhealthnews.org/news/care-suffers-as-more-nursing-homes-feed-money-into-corporate-webs/
For a more detailed understanding of this corruption please read the information provided by National Consumer Voice the national advocate for nursing home residents. https://theconsumervoice.org/news/detail/latest/new-report-nursing-homes-funnel-dollars-through-related-party-companies
In reading the above report please note that Medicare costs include Medicaid dollars, they're just not broken out in this report which I think is unfortunate because it is actually Medicaid that is the predominant payer for nursing home care and it is predominantly Medicaid that is getting ripped off---and course CMS is completely complicit.
"Medicaid, the federal-state health insurance program for low-income people, pays the bills for 62% of long-term care residents in nursing homes." https://kffhealthnews.org/news/article/medicaid-nursing-home-payments-care-mandate/
As of this updated KFF report it was up to $53 billion: https://www.kff.org/medicaid/issue-brief/10-things-about-long-term-services-and-supports-ltss/
And yes, nursing homes are indeed critically understaffed and underpaid (esp. the direct care workers ) but that is due entirely to the above described shell game of siphoning off the money to the "related parties".
No argument here. It's may be better to say that the looting you describe makes it impossible to tell if the industry is actually underfunded or not. I don't think we really know in this country what it takes to deliver real, compassionate long term care because we've seen so little of it, but I'll defer to your deeper knowledge and thanks so much for the links. Your critical point, that the nursing home "industry was corrupt way before PE started their short term grift" parallels the point that the piece argues with acute care hospitals and physician practices.