WASHINGTON--(BUSINESS WIRE)-- Today, Brian Lee, Executive Director of Families for Better Care, called recent nursing home earning reports astonishing. Nursing homes remain rarely profitable despite last years proclamation by a United States Department of Health as well as Human Services to adjust a Medicare payment rate by 11.1% to better enter into Medicare payments with costs. Year-end as well as fourth entertain earning statements for publicly traded nursing homes (summarized within this release) show a thriving enterprise with companies reporting strong balance sheets as well as better than expected operating results. One companys annual revenues spiked nearly 200% whilst another nursing home chain lauded that 2011 was an exceptional year. The industrys analysts framed a Medicare adjustment as an eventual doomsday for a nations nursing home market. But a industrys own reports show quite a opposite, revealing surging revenues, strong profits, as well as expansion through acquisitions, pronounced Lee. The industry is wallowing in strong profits whilst unwell to consistently provide peculiarity care. Resident caring remains mediocre during best, as far too many residents grieve from untreated pressure sores, falls, abuse, or other negligent medical practices. The reason caring declines in nursing homes is that executives unnecessarily target labor costs to offset any payment adjustments, Lee said. While this obviously maintains a robust bottom line for investors as well as cushy CEO salaries, a decrease in frontline staff puts residents in danger for harm whilst simultaneously creating dangerous working conditions for employees. A recent study by a University of California-San Francisco shows a steady decrease in nursing hours for Medicare-licensed facilities as well as an unacceptably high level of deficiencies. Lawmakers contingency demand greater transparency as well as avowal from nursing home companies as well as their affiliates. This will allow payment systems to be restructured, guaranteeing taxpayer dollars go directly to resident caring as well as safety, Lee commented. But until that happens, operators will continue to draw down massive profits whilst elderly as well as disabled residents are shortchanged. Families for Better Care, Inc.is a citizen advocacy organization dedicated to peculiarity resident caring in nursing homes as well as other long-term caring settings. Executive Director Brian Lee served as Floridas State Long-Term Care Ombudsman for most of a past decade. Summary of publicly traded nursing homes year-end as well as fourth entertain reports AdCare Source: http://bit.ly/adcaresummary 2011 highlights Record annual revenues up 198% to $151.4 million Record annual income from operations comes in during $2.7 million Record annual adjusted EDITBAR from continuing operations, up 453% to $16.8 million Acquisitions add more than estimated $76 million in annualized revenue Fourth entertain highlights Revenues increasing 76% to close during a record $45.4 million from $25.8 million in same entertain in 2010 Advocat Source: http://bit.ly/advocatsummary 2011 highlights Revenues increasing 8.5% over prior year end, from $290 million to $314.7 million Medicare rate increasing 11.9% compared to prior year Medicare Part B revenues increasing by $2.1 million Fourth entertain highlights Total census increasing 17% over same entertain in a prior year Revenue increasing 3% to $77.8 million compared to $75.5 million Skilled census increasing 14.6% Medicaid increasing 5% Medicare Part B revenues increasing 18.2% Ensign Group Source: http://bit.ly/ensignsummary 2011 highlights Consolidated revenues up 16.7% to $758.3 million Net income climbed 17.6% to $47.7 million despite Medicare cuts Operating results better than expected Ensigns balance piece remains strong Fourth entertain highlights Acquired six long-term caring facilities, bringing portfolio to 103 facilities, 78 owned, twenty-five leased 11 states Kindred Health Care Source: http://bit.ly/kindredsummary 2011 highlights Consolidated revenues increasing by 27% to $5.5 billion compared to $4.4 billion in prior year Fiscal 2011 was an exceptional year for Kindred Operating cash flows grew 11% to $238 million Fourth entertain highlights Revenues grew 34% to $1.5 billion Operating income rose 25% to $200 million National Health Care Source: http://bit.ly/nhcsummary 2011 highlights Net income to shareholders increasing by 25.8%, $55.4 million compared to $44 from a prior year Annual operating revenues increasing 7.3% to $773 million from $723 million Fourth entertain highlights Operating revenues increasing .5% to $192 million Skilled Health Care Group Source: http://bit.ly/skilledhcgsummary 2011 highlights Cash flows were a strong $99.4 million Revenue increasing 6% to $869.7 million from $820.2 million over a prior year Fourth entertain highlights Revenue decreased by 2.9% from $220.7 million to $214.4 compared to prior years entertain Sun Healthcare Source: http://yhoo.it/sunhealthcaresummary 2011 highlights Consolidated revenues up 1.8% to $1.93 billion Fourth entertain highlights On Medicare adjustments-Impact of therapy changes was reduction than originally projected Executing a strategy of attractinghigh acuity, short-stay residents as well as complementing with expansion of ancillary services Powered By iWebRSS.co.cc
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