Post-acute and long term care providers have endured a state of distress since March 2020, not only from the challenges created by the COVID-19 virus, but also from ever-increasing regulatory compliance burdens, changes in reimbursement rates, and uncertainty in how long term care services and support will be delivered. For example, according to the American Health Care Association’s January 2023 State of the Nursing Home Industry Survey, 84% of nursing homes reported facing “moderate to high levels of staffing shortages” and more than 50% of responding nursing homes reported they are operating at a loss and do not believe they can sustain operations at the current pace for more than 12 months.
