To say that COVID has pretty much changed everything is not an overstatement. Currently, the pandemic and the rise of the omicron variant are impacting what the experts predict for the long-term care industry moving forward. For the moment, this is what they see:
- While census is still not rebounding as much as expected, the skilled nursing acquisition (M&A) market continues to grow; and private equity will continue to dominate M&A in 2022.
- Don’t expect help from the feds. The government support the industry saw in 2021 has pretty much dried up. The only hope in 2022 is a possibility for Medicaid increases or short-term funding at the state level.
- The push toward getting and keeping patients out of nursing homes will continue. For instance, President Biden’s Build Back Better plan includes $150 billion for in-home care.
- There is no COVID-19 “finish line” that providers can aim for. Nursing home operators must continue to keep their guard up, implement and maintain policies, and budget for PPE and other resources for the immediate future. There is no real end in sight for the pandemic.
