Skilled Nursing News, an Aging Media Network publication, is pleased to announce the results of a first-ever survey documenting the ways in which skilled nursing providers are adapting their operations and expenses during the COVID-19 pandemic.
Conducted from September 3 to September 14, 2020, the survey gathers the opinions of more than 170 individuals from Medicare-certified skilled nursing providers polled about their perspectives on how the COVID-19 pandemic has impacted their operations — including how they have utilized federal relief programs, how expenses have shifted and where their capital providers are focused going forward.
Among the key findings:
-- Federal relief funds are most often spent on PPE and payroll. Personal protective equipment (PPE) was reported by respondents as the highest expense category for federal relief funds, followed by maintaining payroll for staff.
-- Staffing is by far the greatest expense resulting from the pandemic. Nearly 90% of respondents say staffing will have the greatest impact on profitability in 2021.
-- Operators are spending on technology to help. The industry is considering investment across many technology categories, with telehealth spending leading the way, followed by virtual engagement solutions for residents.
"The survey results indicate the skilled nursing industry continues to suffer based on the impact of COVID-19, though on an encouraging note, well over half of the respondents say they are receiving COVID tests and results in a timely manner," said Skilled Nursing News Editor Alex Spanko. "While expenses are clearly stressed, many providers also report they are increasing their technology budgets to assist through this challenging time."
To download the full survey results, click here.
About Aging Media Network / Skilled Nursing News
Aging Media Network is an innovative publishing company based in Chicago, Illinois, and is the publisher of Skilled Nursing News, Senior Housing News, Reverse Mortgage Daily, Home Health Care News, Hospice News, and Behavioral Health Business.
Skilled Nursing News is the leading source for news and information covering the skilled nursing industry. To learn more, visit http://www.skillednursingnews.com.
SOURCE Skilled Nursing News