In the News: Investor-Owned Care Facilities
Last weekend’s Sunday New York Times examined the case of Habana Health Care Center, a care facility in Tampa, Florida that was one of 49 homes recently acquired by a large private investment firm. Family members who had arranged for their loved ones to live at Habana were shocked by the unforeseen effects the sale had on their loved ones. Under the investment firm’s management, the homes cut staffing in order to maximize profits, a decision which had heartbreaking results for many residents and their families.
This is a very real fear for many caregivers who must eventually turn to professional care facilities for help. Though more and more elders need such housing, the level of care appears to be deteriorating among homes owned by large firms looking to cash in on the needs of an aging population. One investor told the Times, “‘There’s essentially unlimited consumer demand as the baby boomers age…I’ve never seen a surer bet.’” As such firms continue to purchase care facilities, the trend in declining care has become a major concern for eldercare advocacy groups and families.
So what can caregivers do to ensure that the facility they choose is the right one? There are resources for information that allow caregivers to research facilities before they make their choice. If anything, the Habana case reaffirms how important it is to get as much information as possible before making a decision about long term care. AGIS.com has a checklist for finding and assessing housing, as well as online forums that allow caregivers to share information firsthand.
Related article: Charles Duhigg “At Many Homes, More Profit and Less Nursing” (September 23, 2007)
Filed under: Caregiving, Checklist, Elder Issues, Eldercare, Housing, Long Term Care









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