Investment Firms Make Retirement Homes Profitable By Making Them Hell Holes

Investment Firms Make Retirement Homes Profitable By Making Them Hell Holes

If you wanna make an omelet, you gotta break a few eggs—even if those eggs are old people who die from bedsores that have become infected. The Centers for Medicare and Medicaid Services say that on average, patients at nursing homes that are bought by private investment firms do worse than those at other nursing homes, with higher rates of depression, increased loss of mobility, and less ability to dress and bathe themselves. The New York Times has a horror story on 48 Florida nursing homes where staff was reduced to levels below mandatory requirements and didn’t repair equipment or keep facilities sanitary. Even senior activities were reduced. And there are thousands of (now profitable) nursing homes across the country that are owned by private investment companies.