A survey of more than 953 of America’s 15,000 aged care homes found 65% of operators are running at a loss and 66% say they won’t survive another year with the added costs of the COVID-19 pandemic.
Only 10% of operators surveyed by the American Health Care Association said they were running at a total margin greater than 3% while 25% were just breaking even.
Additional staffing and pay was highlighted as the biggest cost to aged care providers throughout the COVID-19 pandemic after 9 out of 10 were forced to hire more staff to meet demands.
94% of operators said they were also forced to ask their staff to work overtime to help address challenges presented by the pandemic.
“Without adequate funding and resources, the U.S. will repeat the same mistakes made during the initial outbreak last spring,” a statement read.
As a result, the AHCA has pleaded with Congress to replenish emergency funding through the Department of Health and Human Services Provider Relief Fund.