Sharply declining occupancy coupled with the high cost of personal protective equipment, Covid-19 testing and hazard pay has put tskilled nursing under unsustainable financial strain. Fortunately, the prospect of a vaccine for Covid-19 will give this sector some relief.
Without a vaccine, the situation is dire. In a recent survey by the American Health Care Association, 72% of nursing home operators said they will not be able to maintain operations for a year under current conditions, while 40% said they would be unable to last six months.
According to a report by the American Health Care Association and the National Center for Assisted Living, coronavirus cases and deaths are rising in these facilities, reaching levels similar to when reporting began in May. Data from National Investment Center's Skilled Nursing COVID-19 Tracker shows that nearly half of 1% (0.48%) of residents tested positive for Covid-19 at the end of September. During the week ending November 1, that figure had risen sharply to slightly less than 1% (0.94%).
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
