If you have followed local nursing home news in recent years, you know that one New York City-based company has bought up many homes, to the concern of many who wonder about changes to the standards of care. And we have seen some high-profile criminal cases and even a death that has occurred locally since these sales, as well as drops in federal ratings of these homes.
The New York Times took a look this week at what a different New York-based company has done at homes it purchased around the country, in a business model that is very similar to the Centers Health Care model locally. (It does not specifically discuss Centers)
The article, headlined "Care Suffers as More Nursing Homes Feed Money Into Corporate Webs," examines the different ways that the owners of these homes set up subsidiary corporations to which they send money from the home, and the staggering amounts of money involved as care seems to suffer.
The article can be found here.
-- Don Lehman