Skip to Content

Steps for SNFs to improve their bottom lines and bounce back from the pandemic

January 14, 2022 Article 4 min read
Patrick McCormick Jim Stradiot
With COVID-19 driving down resident populations and stimulus money drying up, nursing homes must get creative and explore new revenue sources. In McKnight’s Long-Term Care News, Patrick McCormick and Jim Stradiot discuss strategies for achieving prosperity in coming years.
Senior couple in kitchen discussing nursing homes.As residents and staff depart in unprecedented numbers in the wake of the COVID-19 pandemic, the flow of emergency federal funding has been a lifeline for skilled nursing facilities. But while many operators can expect a few more stimulus dollars to flow their way, that spigot will soon be turned off.

Even with stimulus money, only one-quarter of nursing homes are confident they can last another year at current revenue levels, according to an American Health Care Association (AHCA) and National Center for Assisted Living (NCAL) survey. Clearly, owners can’t wait much longer for revenue to bounce back. However, they also can’t expect a return to business as usual anytime soon.

But savvy, creative operators who are willing to rethink, reallocate, and reconfigure can forge opportunity out of this looming crisis.

Related Thinking

A senior African-American couple sitting side by side on their porch or balcony, relaxing, and holding hands, conversing and laughing together.
Tuesday, Nov. 2, 2021

Designing the future of long-term care

Webinar 1 hour watch
Senior living facility building under construction for repositioning and COVID-19 adjustments
January 29, 2021

Seven senior living facility improvements arising from the pandemic

Article 5 min read
Real estate development consultant with client and senior living architect team checking a housing model and its blueprints digitally using a tablet
July 21, 2021

Senior living design: Post-COVID trends & innovations

Video 19 min watch