Long-term care needs to get creative to deal with coronavirus staffing impact
With the coronavirus pandemic bearing down on the U.S. long-term care industry, creative ideas are needed to prevent disruptions to operations while ensuring long-term financial health. Patrick McCormick shares his thoughts via McKnight’s.
The coronavirus pandemic is undeniably going to have a major impact on U.S. long-term care operators in the coming months. The virus is an unwelcome addition to an already long list of headaches for an industry operating on thin margins amid falling demand, reimbursement pressures and new competition.
With a vaccine 12 to 18 months away and families likely to be more reluctant to admit loved ones, the overall impact could well be worse than that of the 2008 financial crisis.