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Article: Nursing homes' latest hurdle: insurance rates.
- Article from:
- Crain's Cleveland Business
- Article date:
- May 8, 2000
- Author:
CopyrightCOPYRIGHT 2000 Crain Communications, 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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Local nursing homes contending with the challenges of reduced reimbursements and staffing shortages are facing yet another headache -- obtaining insurance.
"It's become a major problem for our membership," said David Petno, president and chief executive officer of HealthRays Alliance, a network of 25 nonprofit nursing homes in northern Ohio.
"They're experiencing drastic (insurance) rate increases with short notice, putting them in a bind," Mr. Petno said. In some cases, he said, insurers simply are not renewing coverage for nursing homes.
Lawsuits against nursing homes for claims ranging from negligence of care to violations of residents' ...