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Ownership conversion and closure in the nursing home industry
1Department of Economics and Scripps Gerontology Center, Miami University, Oxford, OH 45056, USA. jbowblis@muohio.edu
Health Economics
|April 2, 2011
Summary
Nursing home ownership conversions and closures are linked to financial difficulty. Factors predicting ownership changes differ by facility type, while closure predictors remain consistent across nursing homes.
Area of Science:
- Health Services Research
- Healthcare Management
- Gerontology
Background:
- Nursing home ownership conversions and closures are often studied independently.
- The Prospective Payment System (PPS) significantly altered Medicare skilled nursing facility (SNF) reimbursement.
- Understanding factors influencing ownership changes and closures is crucial for SNF stability.
Purpose of the Study:
- To analyze predictors of nursing home ownership conversions and closures within a unified framework.
- To assess the impact of the Prospective Payment System on SNF ownership dynamics.
- To identify differences in conversion and closure predictors based on facility ownership (for-profit vs. not-for-profit).
Main Methods:
- Utilized a common framework to examine predictors of ownership conversions and closures.
- Focused on skilled nursing facilities after Medicare's Prospective Payment System implementation.
- Employed statistical analysis to identify factors influencing these ownership changes and closures.
Main Results:
- Financial difficulty was a significant predictor of both ownership conversion and closure.
- Facilities with higher Medicare exposure and lower efficiency were impacted by reimbursement changes.
- Medicare exposure had a minimal effect on ownership changes after controlling for other variables.
- Predictors for ownership conversion varied between not-for-profit and for-profit nursing homes.
- Predictors for closure were consistent across both for-profit and not-for-profit nursing homes.
Conclusions:
- Financial distress is a key driver for nursing home ownership conversions and closures.
- Ownership type influences the factors leading to conversions, but not closures.
- The study provides insights into the financial and operational factors affecting nursing home structural changes post-PPS.
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