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[quote=Anonymous]I don't understand this all but I do understand that social services should not be operated on a for profit basis.

How to Restore the Care in Long-Term Nursing Care
May 2023

https://nonprofitquarterly.org/how-to-restore-the-care-in-long-term-nursing-care/

[quote]For decades, for-profit nursing homes and assisted living facilities have seen profit maximization overrun social mission. The result has been the neglect—or even abuse—of the frail and elderly, a situation that became patently clear amid the COVID-19 pandemic. Even though companies are funded through public Medicaid and Medicare dollars, patients receive little protection.

Fortunately, existing policy tools can address this. Specifically, we propose using federal tax credits, combined with Medicare and Medicaid dollars, to restructure the ownership and financing of the nursing care industry. By making federal payment contingent on partial employee and impact investor ownership, limiting the use of complex organizational structures, and sweetening the deal with tax credit incentives, we believe the federal government can restore the alignment of the nursing care and assisted living industries with a social mission of providing patients with top-quality care[/quote].

[quote]US long-term care businesses (see Table 1) often operate under conditions where they have an extreme information advantage over their customers. This is because those who pay for services are not typically the people directly receiving the services (Chou 2002). As a result, the buyer often unknowingly purchases poor-quality services for a vulnerable individual who is typically unable to communicate service shortfalls. We posit that an antidote to this situation is to rein in profit maximization that benefits private investors.[/quote][/quote]

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