Dominion Post
No Result
View All Result
  • Home
  • News
    • Latest News
      • Business
      • Community
      • Cops and Courts
      • Education
      • Religion
      • WVU News
    • Opinion
      • Editorials
      • Guest Editorials
      • Hoppy Kercheval
      • Letters to the Editor
    • Government
      • West Virginia Legislature
      • Granville Council
      • Kingwood Council
      • Monongalia County
      • Morgantown Council
      • Preston County
      • Reedsville Coucil
      • Westover Council
    • General Election Results 2020
    • Entertainment
      • Life & Leisure
      • Marquee
    • Contributors
      • Aldona Bird
      • Becca Fint Clark
      • Dr. Michael Hogan
      • Dr. Trembush and Dr. Stout
      • H.R. Scott
      • Healthy Living
      • Irene Marinelli
      • Joe Smith
      • John Samsell
      • Justin Jackson
      • Keenan Cummings
      • Kerri Kosten
      • MaryWade Triplett
      • Sean Manning
      • Vaageesha Das
  • Sports
    • Local Sports
    • WVU Sports
    • Outdoors
  • Classifieds
  • Obituaries
  • E-Edition
  • Podcasts
  • Marketing Services
  • Contact
    • Contact Us
    • Submit a Classified Ad
    • Submit Announcement
    • About the Dominion Post
  • Sign In
Dominion Post
Subscribe
  • Home
  • News
    • Latest News
      • Business
      • Community
      • Cops and Courts
      • Education
      • Religion
      • WVU News
    • Opinion
      • Editorials
      • Guest Editorials
      • Hoppy Kercheval
      • Letters to the Editor
    • Government
      • West Virginia Legislature
      • Granville Council
      • Kingwood Council
      • Monongalia County
      • Morgantown Council
      • Preston County
      • Reedsville Coucil
      • Westover Council
    • General Election Results 2020
    • Entertainment
      • Life & Leisure
      • Marquee
    • Contributors
      • Aldona Bird
      • Becca Fint Clark
      • Dr. Michael Hogan
      • Dr. Trembush and Dr. Stout
      • H.R. Scott
      • Healthy Living
      • Irene Marinelli
      • Joe Smith
      • John Samsell
      • Justin Jackson
      • Keenan Cummings
      • Kerri Kosten
      • MaryWade Triplett
      • Sean Manning
      • Vaageesha Das
  • Sports
    • Local Sports
    • WVU Sports
    • Outdoors
  • Classifieds
  • Obituaries
  • E-Edition
  • Podcasts
  • Marketing Services
  • Contact
    • Contact Us
    • Submit a Classified Ad
    • Submit Announcement
    • About the Dominion Post
  • Sign In
Dominion Post
No Result
View All Result
Home Latest News Business

Nursing homes facing money troubles

by Suzanne Elliott, The Dominion Post
December 30, 2020
in Business, Community, Healthcare, Latest News
2 min read
385
VIEWS
Share on FacebookShare on Twitter

Two-thirds of the nursing homes and personal care facilities in the U.S. may not be in operation much longer because of the financial impact of the COVID-19 pandemic, a national survey by two trade associations found.

The survey done recently done by the Health Care Association and the National Center for Assisted Living said staffing has been the top cost, with nine out of 10 facilities hiring extra employees to meet the demand brought on by the pandemic. Also, more than 70% surveyed said they had to pay overtime.

“Our nursing home providers are facing the worst financial crisis in the history of the industry due to increased costs related to COVID and chronic Medicaid underfunding,”  Mark Parkinson, president of the two associations, said in a statement. Besides staffing, extra costs include COVID-19 testing and personal protective equipment, he said.

“Without adequate resources, the U.S. will repeat the same mistakes made during the initial outbreak last spring,” Parkinson said. “We need Congress to prioritize our vulnerable seniors and their caregivers in long term care facilities, by passing another COVID relief package right away.” 

Other highlights of the survey show:

  • 90% of the nursing homes are operating at a 3% profit margin or less, and 65% are operating at a loss; 10% said their profit margin is greater than 3%.
  • 28% of the respondents said they could continue to remain in operation at the current pace for 12 months or more and 10% said they could remain open for one to three months. 
  • 86% provided bonus pay to staff, and 94% asked employees to work overtime or do  double shifts.

Residents of the 200-plus nursing homes and personal care facilities in West Virginia could be particularly vulnerable if there are closures. State residents 70 and older make up 77.5% of the people who died from the virus. 

Gov. Jim Justice said earlier this week that all elder care facilities have been given the vaccine.

Tweet @41Suzanne

Tags: businesscoronavirusCOVID vaccineCOVID-19healthcarenursing homevaccine
Suzanne Elliott, The Dominion Post

Suzanne Elliott, The Dominion Post

More Articles

stock image of red apple on three books
Latest News

Keeping the kids active, healthy

January 22, 2021
Mon BOE discusses county’s Head Start program
Education

Mon County schools take stock as blended-learning rollout unfolds

January 22, 2021
News podcast by The Dominion Post Morgantown WV
Community

Postcast 55 – January 22, 2021

January 22, 2021
vaccine distribution
Latest News

Giving the shot a shot

January 21, 2021
New online vaccine registration system to begin Monday
Healthcare

New online vaccine registration system to begin Monday

January 21, 2021
Monongalia County school bus behind caution sign
Latest News

Mon County schools named in restraining order from mandate

January 21, 2021
Load More
Next Post
Caregivers, professionals learn about disease at Alzheimer’s University

Accused man to be hospitalized for evaluation

Dominion Post

© 2020 The Dominion Post.

Menu

  • Home
  • News
  • Sports
  • Classifieds
  • Obituaries
  • E-Edition
  • Podcasts
  • Marketing Services
  • Contact
  • Sign In

Follow Us

No Result
View All Result
  • Home
  • Subscribe
  • Latest News
  • Sports
  • Classifieds
  • Obituaries
  • E-Edition
  • Podcasts
  • Advertising
  • Contact
  • Sign In

© 2020 The Dominion Post.