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Survey: Majority of nursing homes wont survive another year with COVID-19 – WKOW

(WKOW) — Findings from a new survey suggest a majority of nursing homes won’t survive another year because of increased COVID-19 costs.

The survey conducted by American Health Care Association and National Center for Assisted Living (AHCA/NCAL) found two-thirds of nursing homes are in jeopardy of closing given current operating pace due to increased COVID costs.
  
The survey also found 90% of nursing homes are currently operating at a profit margin of 3% or less, and 65% of nursing homes are currently operating at a loss.

Staffing has been the top cost in response to COVID with nine out of 10 nursing homes hiring additional staff and/or paying staff overtime. 58% of nursing homes said additional staff pay and hiring new staff were their top cost incurred due to COVID. 

Survey findings show 70% of nursing homes have hired additional staff and nine out of 10 have asked current staff to work overtime and provided hero pay.

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