Major Nursing Home Players Identified in 2020 Report
In a recent report titled “U.S. Skilled Nursing Facility Market Size, Revenue, Growth, Trend & Forecast Analysis, 2020 – 2027, By Ownership”, Reports Globe did a deep dive into America’s most profitable nursing home corporations. Some of these mega-corporations are expected to grow exponentially over the next decade, due to good, quality care provided to residents. Other nursing home chains have a grim forecast, with expectations of lawsuits and a decrease in facilities.
Based on the report, revenues in America’s skilled nursing industry exceeded $230 billion in 2019. That number is supposed to increase as baby boomers age. Sadly, the quality of care in some of these nursing home chains is not increasing with company profits.
The ‘key players’ in the US nursing home market are identified below.
SavaSeniorCare Administrative Services LLC
SavaSenior Care was founded in 2004. As one of the largest corporate nursing home chains in the U.S., Sava has more than 175 facilities.
The Sava nursing home chain found COVID-19 to be a ‘wake up call‘ which allegedly will lead to it rethinking its business model entirely.
Life Care Centers of America Corporate
Life Care Centers of America owns and or operates over 200 facilities in the country in 28 different states. Historically, Life Care settled a whistleblower fraud case with the US government for $145 million. At the time, this was the largest False Claims Act settlement with a nursing home chain and the US government.
Our attorneys have extensive experience handling Life Care claims for injury and wrongful death. The Life Care chain expects to expand over the next decade, despite facing adversity due to the coronavirus pandemic.
Headquartered in Indianapolis, Indiana, Golden Living has its eyes set on expanding in the long term care sector during the 2020’s. Specifically, the newly minted CFO is analyzing growth by “improve(ing) financial performance; managing revenue cycles; providing governance of the LivingCenters’ financial regulatory reporting and compliance guidelines; and delivering financial forecasting needed to sustain the company’s delivery of quality healthcare in the skilled nursing setting.” It is unclear whether Golden Living anticipates increasing its nursing home staff numbers.
HCR ManorCare underwent a significant merger and acquisition by ProMedica in July of 2017. The expectation was that ProMedica would bring stability to the Manor Care chain as it entered the 2020’s. Both companies are based in Ohio, so there was a significant amount of connectivity between the board rooms.
After ProMedica acquired all of Manor Care and Heartland nursing homes, the company reportedly lost $70 million in 2018. Care has been hit or miss at ManorCare and Heartland facilities. Our attorneys have successfully brought numerous lawsuits against ProMedica, lawsuits against Manor Care, as well as Heartland cases.
Life Care Services
Based in Des Moines, Iowa, Life Care Services is not affiliated with Life Care Centers of America. The company has 140 facilities across America and over 40,000 residents. Similar to Life Care Centers of America, Life Care Services has also settled with the US Department of Justice for allegedly submitting unreasonable or unnecessary bills for rehab.
Sunrise Senior Living, LLC
Sunrise Senior Living is an operator of assisting living facilities and other skilled nursing facilities for senior citizens. As of 2017, Sunrise Senior Living operated over 320 assisted living facilities throughout the United States, Canada, and the United Kingdom. Sunrise Senior living employs 32,000 people and is headquartered in the Washington DC metro area. In May 2018 Sunrise Senior Living was ordered to pay more than £2 Million in compensation by the Competition and Markets authority due to an investigation into their compulsory upfront fees.
Our law firm has successfully won lawsuits against Sunrise Senior Living.
Based in Markham, Ontario and operating 122 care facilities across the United States, Extendicare (which was once a real estate investment trust) completed its conversion from an REIT to a corporate structure in 2012. They are a for-profit corporation that lists an investors section prominently on their website displaying their current stock price and quarterly earnings.
The Ensign Group, Inc.
This company’s operating subsidiaries provide a spectrum of skilled nursing services and other rehab facilities across the United States including: Arizona, California, Colorado, Idaho, Iowa, Kansas, Nebraska, Nevada, South Carolina, Texas, Utah, Washington and Wisconsin. They operate approximately 226 facilities. In 2013, a whistle blower lawsuit was brought against The Ensign Group for $48 million involving Medicare billing fraud.
Genesis Healthcare operates approximately 500 skilled nursing centers and assisted living facilities in 34 states across the United States. From 1985 to 1998 this company grew their venture from $32 million to a $2.4 billion publicly traded company. In 2017, Genesis Healthcare Inc. agreed to pay the Federal Government $53.6 million under the false claims act to settle 6 lawsuits alleging billing for medically unnecessary therapy and hospice services, and grossly substandard nursing care.
Our attorneys have extensive experience suing Genesis for nursing home negligence.
Brookdale Senior Living Solutions
Operating over 700 facilities and retirement communities in the United States, Brookdale Senior Living was established in 1978 and is based on Brentwood, Tennessee. In the early 2000’s, Fortress Investments became the majority owner of Brookdale, and currently Glenview Capital Management (a hedge fund) holds most shares of the company. As of 2018, Brookdale is the largest operator of senior housing in the United States with approximately 70,000 staff members and 100,000 residents. In 2013, a Bakersfield California Brookdale owned facility became the focus of national attention when a staff member refused to give CPR to an 87 year old resident.
If your loved one was wrongfully hurt inside one of its facilities, contact our firm today to investigate a Brookdale lawsuit for poor resident care.
Clearly, with America’s baby boomers living longer, yet suffering from underlying health ailments like diabetes, dementia, high blood pressure and immobility, America’s skilled nursing market will continue to grow. However, we as a society have a duty to ensure responsible growth, with adequate safeguards and agency investigators in place.
All too often, nursing homes get away with murder after wrongfully neglecting a vulnerable resident. This is a product of a lack of regulation and a systemic silence inside the industry to fix the problem.
A link to the August 2020 150-page report can be found here. If your loved one suffered harm, neglect or wrongful injury inside one a nursing home, contact our compassionate and experienced nursing home abuse attorneys today for a completely free case consultation at 888-375-9998.« Previous PostNext Post »