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Resource ID: #19495
Subject: Nursing Homes
Source: U.S. News & World Report
Affiliation: 
Date: Sept. 30, 2002

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Description

Schmitt reports on the finances of the nursing home industry nationwide. "In an elaborate national lobbying campaign in 2002, nursing home operators used quality of care as a wedge to seek billions more in federal funding, saying lives would be endangered if the homes didn't get more money." U.S. News & World Report finds a very different picture: nursing homes are earning healthy profit margins, usually in the range of 20 to 30 percent; nursing home operators steer big chunks of revenues to themselves or related businesses; and there is no evidence that today's patients are sicker, as the nursing home industry has claimed.

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