New TX Nursing Home Survey: Medicaid And Medicare Cuts Threaten Direct Care Staff Layoffs, Deferred Tech Investment, Possible Facility Closures
Legislature Urged to Focus More on Adequacy of Texas Seniors' State Medicaid Rates, Not Just Issues Surrounding 'Medicaid Expansion'
AUSTIN, Texas, March 11, 2013 /PRNewswire-USNewswire/ -- A newly completed survey of Texas nursing homes finds the series of state and federal funding cuts to seniors' skilled nursing facility (SNF) care is creating a dangerous strain on facilities' ability to care for growing numbers of older, more medically complex patients.
Following the $58 million state Medicaid cut in 2011 and a series of federal Medicare cuts since 2009 – the latest being a $51 million cut associated with the federal 'sequester' – Texas nursing homes are reporting the cumulative funding squeeze is having a significantly negative impact on facility operations, and are a growing threat to patient care. The questions and results are as follows:
"As a result of the continuing budget chaos in Washington regarding Medicare coupled with ongoing state Medicaid underfunding, have you:
Made any staff changes?
- 65.9% report yes
Reduced staff hours, wages and/or benefits?
- 72.5% report yes
Cancelled or postponed facility improvements?
- 60.0% report yes
"Looking ahead, what actions may you be forced to consider in 2013?
- 84.3 % of facilities may have to freeze wages;
- 81.8% may have to defer facility expansions or renovations;
- 78.4% may have to defer investment in new technology, therapy equipment;
- 75% may have to defer, reduce or change staff benefits;
- 31.1% may have to lay off direct care staff;
- 18.4% may be forced to consider actually closing their facility.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV