Many long-term care providers are struggling to stay afloat in the post pandemic era, and some are closing altogether. Lay media outlets are taking notice.
“The COVID-19 pandemic has placed increased financial pressures on nursing homes and assisted living providers who already operate at very slim margins,” James McCracken, president and CEO of LeadingAge New Jersey, told NJ.com
As previously reported, a fourth of nursing homes and assisted living communities participating in a recent survey by the American Health Care Association/National Center for Assisted Living say they are confident they can last a year or more. Most nursing homes and nearly half of all assisted living communities are now operating at a loss, according to the associations.
In New Jersey alone, three nursing facilities have shut down since March because of financial instability, NJ.com reported. On the other side of the country, experts fear that 20 facilities or so soon may close in Washington state if they don’t get help from the government, according to the local NBC affiliate.
On Monday, Foundation House announced its impending closure, which affects 50 residents in the Seattle area. This is the second long-term care facility in the state to close during the pandemic.