"The nation's nursing homes are perilously close to laying off workers, cutting services - possibly even closing - because of a perfect storm wallop from the recession and deep federal and state government spending cuts, industry experts say," The Associated Press reports. "A Medicare rate adjustment that cuts an estimated $16 billion in nursing home funding over the next 10 years was enacted at week's end by the federal Centers for Medicare and Medicaid Services." This move came in addition to state-level reductions or flat-funding "that already had the industry reeling. And Congress is debating slashing billions more in Medicare funding as part of health care reform."……
BuzzNet Tags: LTC,Nursing Home finance
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