Nursing homes provide critical support for older adults who cannot live independently. When aging individuals have care needs that go beyond what their family members can accommodate, moving into a nursing home may be the best option available.
Families generally expect nursing homes to provide their loved ones with the medical attention and daily support they require for their health. Unfortunately, the drive for profit can reduce staffing levels and investments in patient facilities. As private equity firms acquire Florida nursing homes, their profit-driven operational priorities may compromise care standards.
A focus on short-term profits can derail patient care
Private equity firms are notorious for looking for short-term profits, sometimes at the expense of the businesses they acquire. Many nursing homes are for-profit businesses, and the people who own and run these companies may sell existing nursing homes to private equity firms without consideration of the impact that decision could have on residents.
A significant percentage of Florida nursing homes have sold to new ownership in recent years, and there is a correlated decline in care standards identified by AARP researchers. Private equity firms may reduce investments in staffing. They may limit the funds available for facility maintenance and improvement, leading to issues ranging from infestation risks due to sanitation oversights to increased tripping and slipping hazards due to aging floors.
If a private equity firm has improperly managed a nursing home, resulting in negligent care or abuse, affected families may have grounds for a civil lawsuit. Consulting with an attorney familiar with nursing home litigation can be beneficial for those affected by private equity nursing home takeovers.
