Author Topic: Nursing Home buisness in trouble?  (Read 1593 times)

Offline Tuna Baygel

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Nursing Home buisness in trouble?
« on: August 15, 2023, 08:57:28 PM »
I have a small insider view to what is currently going on. From what I see, expenses have never been higher, reimbursements pretty much stayed the same, and homes have never been so empty. Is the current business model still a profitable one?

Offline S209

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Re: Nursing Home buisness in trouble?
« Reply #1 on: August 15, 2023, 10:23:00 PM »
I have a small insider view to what is currently going on. From what I see, expenses have never been higher, reimbursements pretty much stayed the same, and homes have never been so empty. Is the current business model still a profitable one?
Donít forget NY investigating and many new fines.
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Online jye

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Re: Nursing Home buisness in trouble?
« Reply #2 on: August 15, 2023, 10:26:26 PM »
It probably depends on entry point and debt load. Those that paid to dollar and used creative funding and execution are obviously more vulnerable. Thereís a price point that the model makes sense, and that may be significantly lower that what was being asked a couple years ago.

Offline Sammy82

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Re: Nursing Home buisness in trouble?
« Reply #3 on: August 15, 2023, 10:52:14 PM »
I've convinced several people over the years not to go into it (actually I didn't convince them. I just told them to open their eyes and make sure they really want to do it). It's gotten extremely hard over the past 10 years and it's only getting harder. If I knew them what I know now, I'm not sure I would have entered this industry. At this point it's too late for me to change.
Then again, I imagine many/most industries feel the same way.

Offline Definitions

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Re: Nursing Home buisness in trouble?
« Reply #4 on: August 16, 2023, 12:04:23 AM »
I have a small insider view to what is currently going on. From what I see, expenses have never been higher, reimbursements pretty much stayed the same, and homes have never been so empty. Is the current business model still a profitable one?
Expenses going up and reimbursement staying the same I can understand. But why is it emptier than before? Isn't it covered under Medicare?

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Offline WayBackMachine

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Re: Nursing Home buisness in trouble?
« Reply #5 on: August 16, 2023, 12:40:10 AM »
Expenses going up and reimbursement staying the same I can understand. But why is it emptier than before? Isn't it covered under Medicare?
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Offline free123cc

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Re: Nursing Home buisness in trouble?
« Reply #6 on: August 16, 2023, 03:34:02 AM »
great....just in time for me to start my LNHA internship in 2 weeks.....

Online sguitarist18

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Re: Nursing Home buisness in trouble?
« Reply #7 on: August 16, 2023, 01:31:53 PM »
great....just in time for me to start my LNHA internship in 2 weeks.....

The challenging times means that:

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2) There's more demand than ever for capable administrators.

Offline GAM Z.

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Re: Nursing Home buisness in trouble?
« Reply #8 on: August 16, 2023, 01:49:43 PM »
I have a small insider view to what is currently going on. From what I see, expenses have never been higher, reimbursements pretty much stayed the same, and homes have never been so empty. Is the current business model still a profitable one?
Is the question of the current business model being profitable a question for employees or for owners?

Offline Sammy82

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Re: Nursing Home buisness in trouble?
« Reply #9 on: August 16, 2023, 02:09:06 PM »
Is the question of the current business model being profitable a question for employees or for owners?
Officially only the owners as employees are salaried, but if the owners are losing money they will shut down the facilities. Guess who loses out then? Yup, the unemployed employees. As do the residents.

Offline GAM Z.

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Re: Nursing Home buisness in trouble?
« Reply #10 on: August 16, 2023, 04:35:38 PM »
Officially only the owners as employees are salaried, but if the owners are losing money they will shut down the facilities. Guess who loses out then? Yup, the unemployed employees. As do the residents.
Nursing homes are not going away in the near future. Where will all the residents go?

Offline yomo

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Re: Nursing Home buisness in trouble?
« Reply #11 on: August 16, 2023, 11:11:19 PM »
For years, decades, people have been questioning this business and suggesting that the free $ won't last etc etc...every year they seem to PRINT more and more $ and these guys literally have no idea what to do with all the $ coming in. I feel the more people say it will end, the greater it gets lol.

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Re: Nursing Home buisness in trouble?
« Reply #12 on: August 16, 2023, 11:23:15 PM »
Every year, there are dozens of nursing homes that close. There are people buying nursing homes who do not make ends meet.

And while in the long run I believe there's going to be this need, the government could easily, foolishly, run things into the ground thinking they can control things better. Foolishly, because historically, government/county run facilities are generally the worst - horrible quality and high cost.

Offline Sammy82

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Re: Nursing Home buisness in trouble?
« Reply #13 on: August 16, 2023, 11:36:09 PM »
For years, decades, people have been questioning this business and suggesting that the free $ won't last etc etc...every year they seem to PRINT more and more $ and these guys literally have no idea what to do with all the $ coming in. I feel the more people say it will end, the greater it gets lol.
are you in the industry or do u just know people who are and live a certain lifestyle?

Offline DaasTora

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Re: Nursing Home buisness in trouble?
« Reply #14 on: August 16, 2023, 11:49:42 PM »
are you in the industry or do u just know people who are and live a certain lifestyle?
Youíre really asking? Just read his postÖ I think itís pretty obvious.

Offline yomo

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Re: Nursing Home buisness in trouble?
« Reply #15 on: August 16, 2023, 11:56:07 PM »
are you in the industry or do u just know people who are and live a certain lifestyle?
I'm in real estate. Many friends/family in Healthcare. Personally know a few dozen people in industry. Some spend lavishly, some don't. All give enormous checks to tzedakos, some of which I'm personally involved with. They also invest significantly in Real estate I'm involved with, so I know first hand how they're doing.

Yes, everyone I personally know who has equity/ownership stakes in healthcare industry are crushing it. For years now. Newcomers from nowhere and old-school/old-timers. All printing $ as a whole. I don't know anyone who has overall (not on a single deal or two) lost their pants. All consistently doing well.
« Last Edit: August 16, 2023, 11:59:36 PM by yomo »

Offline DaasTora

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Re: Nursing Home buisness in trouble?
« Reply #16 on: August 17, 2023, 12:00:19 AM »
I'm in real estate. Many friends/family in Healthcare. Personally know a few dozen people in industry. Some spend lavishly, some don't. All give enormous checks to tzedakos I'm personally involved with and invest significantly in Real estate I'm involved with, so I know first hand how they're doing. Yes, everyone I personally know who has equity/ownership stakes in healthcare industry are crushing it. For years now. Newcomers from nowhere and old-school/old-timers. All printing $ as a whole. I don't know anyone who has overall (not on a single deal or two) lost their pants. All consistently doing well.
Why are you in the wrong industry?😀

Offline yomo

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Re: Nursing Home buisness in trouble?
« Reply #17 on: August 17, 2023, 12:05:19 AM »
Why are you in the wrong industry?😀
Great question! Lol been asking myself that for years. Still trying to convince myself that slow and steady wins the race 😁

Offline DaasTora

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Re: Nursing Home buisness in trouble?
« Reply #18 on: August 17, 2023, 12:10:26 AM »
Great question! Lol been asking myself that for years. Still trying to convince myself that slow and steady wins the race 😁
I have family in healthcare that made it really big but Iím still not sure about entering it myself. And funny that sometimes I think that real estate is the place to be.