(WKOW) – The results of a new survey suggest that most nursing homes will not survive another year due to the high costs of COVID-19.
The survey conducted by the American Health Care Association and the National Center for Assisted Living (AHCA / NCAL) found that two-thirds of nursing homes are in danger of closing, given the current pace of operation due to high costs of COVID.
The survey also found that 90% of nursing homes currently operate with a profit margin of 3% or less, and 65% of nursing homes currently operate at a loss.
Staffing was the highest cost in response to COVID, with nine out of 10 nursing homes hiring additional staff and / or paying overtime staff. 58% of nursing homes stated that the additional salary of staff and the hiring of new staff was their main cost due to COVID.
The results of the survey show that 70% of nursing homes employed additional staff and nine out of 10 asked current staff to work overtime and pay the hero.