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Article: Most Arkansas nursing homes profitable in 2005.(List Overview)
- Article from:
- Arkansas Business
- Article date:
- February 27, 2006
- Author:
CopyrightCOPYRIGHT 2006 Journal Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Nursing homes in Arkansas continued their trend toward profitability in the year that ended June 30, 2005, according to financial reports filed with the Arkansas Department of Health & Human Services.
Of 204 nursing homes that filed full-year cost reports, two-thirds--134 facilities--had net income totaling $37.6 million, while 70 were in the red to the tune of $14 million. That compares favorably with fiscal 2004 results, when 59 percent of nursing homes broke even or better.
About 15 facilities did not file full-year cost reports because of ownership changes during the reporting period.
The most profitable nursing home in the state last year ...