Assisted Living Concepts, Inc. ( ALC ) (NYSE:ALC) reported net income of $3.0 million in the 2008 fourth quarter compared to net income of $4.1 million in the 2007 fourth quarter and cited the decrease attributable to an increase in residence lease expense primarily from the CaraVita acquisition. The company’s net income decreased from $17.2 […]
Category: Medicare & Medicaid
For those people who thought sub-prime mortgages and fancy CDO/CMOs were creative accounting, you haven’t seen the latest iteration of creating accounting: increased state taxation in order to receive more funding from Medicaid. Florida Health News’s article, Please Tax Me So I Can Earn More, is a fascinating view into the crazy funding crisis Florida […]
For those of you who want to read the 700 pages of the House version of ‘American Recovery and Reinvestment Act of 2009 or those who want to review the amendments being debated in the Senate or try to follow all the press coverage, good luck. If you just want the down and dirty from […]
According to the 2007 Service Annual Survey: Health Care and Social Assistance provided by the U.S. Census Bureau, Medicaid continued to be the largest source of funding for nursing and residential care facilities in 2007 at $59 billion. The report focuses on health care and social assistance providers for individuals, and gives estimates and sources […]
The American Association of Homes and Services for the Aging’s (AAHSA) President and CEO Larry Minnix applauded the introduction of S. 118, the Section 202 Supportive Housing for the Elderly Act of 2009. The proposed legislation would strengthen the U.S. Department of Housing and Urban Development’s (HUD) Section 202 Supporting Housing for the Elderly Program […]
AARP CEO Bill Novelli pledged to work with Congress and the Administration to address the nation’s most serious challenges at an event where he outlined the organization’s annual legislative and advocacy priorities. In outlining the AARP agenda for the 111th Congress, Novelli stressed the need to provide economic relief for America, fix our health care […]
Want to know what we think are going to be senior housing trends in 2009? We looked into the magic, crystal ball and here is a preview of 10 topics and issues that may be hot in 2009….we will be addressing these further over the next month or so: 1. When will housing prices find […]
Oregon Business News recently printed an emailed letter from Sunwest’s CEO, Jon Harder, to U.S. Senator Gordon Smith’s office that pleaded for assistance. According to the article, Harder’s lawyer confirmed its authenticity but the tone of the letter paints a shocking picture of the challenges it faces with its lenders and its operations. If Mr. […]
The Social Security Administration announced today that monthly Social Security and Supplemental Security Income benefits will increase 5.8% in 2009. This increase isn’t enough to offset the increases that many seniors have seen in their housing expenses including their property taxes and insurance, let alone any increases in rent or mortgage payments. More than 55 […]
The U.S. Department of Health and Human Services’ Office of the Inspector General released a report last week detailing the "Trends in Nursing Home Deficiencies and Complaints" that paints a dismal picture showing that over 90% of that nation’s nursing homes were cited for federal violations from 2005-2007. The most common deficiency categories cited in […]
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