Private Equity Diverts Tax Dollars, Undermines Care In Nursing Homes

[Omaha Steve]

http://www.laborradio.org/node/6963

Private Equity Diverts Tax Dollars, Undermines Care In Nursing Homes - 10/04/07

By Doug Cunningham

The Service Employees International Union wants Congress to hold hearings and consider oversight actions on increasing ownership of nursing homes by private equity investors. SEIU says care is deteriorating at nursing homes owned by private equity groups. SEIU is concerned that this trend is diverting taxpayer money toward the enrichment of private equity CEO’s at the expense of quality care for the elderly. The Carlyle Group is buying out HCR Manor Care, the nation’s largest - nursing home provider. SEIU’s Anna Burger says Medicare and Medicaid resources meant to care for some of the most vulnerable Americans are being instead diverted to the private benefit of wealthy investors and Congress needs to act to correct it.

[ismnotwasm]

1. Damn straight it does

Unions are LTC owners worst nightmare. They have to show quarterly profits off the backs of not only workers, but the elderly and disabled. God forbid they take a longer view, make a sacrifice for happier, healthier employee's and concentrating on improving care.