September 11, 2023
Providers | Tea Leaves
  • High labor costs, rising interest rates, and looming federal staffing minimums are prompting more nursing homes and senior living operators to file for bankruptcy. According to Gibbins Advisors, a health care advisory and restructuring consultancy, the two kinds of care providers accounted for half of the 40 filings for Chapter 11 bankruptcy reorganization in health care through the first half of the year. The situation has prompted some action from CMS and states. CMS is increasing Medicare reimbursement rates to nursing homes by 4 percent next year, and a number of states have approved higher Medicaid reimbursements for 2024. (Article here)