Is Wall Street’s investment in nursing homes dangerous to residents?

Many people believe that when they put their loved ones in nursing homes, they will receive state-of-the-art care around the clock, especially since an average patient can expect to pay between $7,000 and $9,000, respectively. Sadly, this is far from the truth because the rate of abuse and neglect in Florida and around the nation is rampant. The problem is expected to get worse, as Wall Street investors continue to buy up facilities.

Abuse and neglect statistics in nursing homes

Nursing home abuse and neglect is more common than many realize. According to the National Council on Aging, five million residents in nursing homes suffer abuse annually. 64% of abuse victims are women, and those with cognitive impairments, such as dementia, are at the highest risk. Residents who are bedridden or living with severe illness are more likely to experience abuse and neglect.

Abuse and neglect occur because of understaffing. Many company owners deliberately understaff their nursing homes to cut costs, and sadly, the residents suffer. Approximately 30% of nursing homes reported that they were understaffed in 2022. Nursing home workers beg the administration for more help, but none is forthcoming. Often, these workers become exhausted, and then they wind up abusing those in their care.

Problems worsen as Wall Street Investors buy up nursing homes

As investors purchase nursing homes, resident death rates continue to rise. In 2021, one study reported that the death rates in private-equity owned nursing homes jumped as high as 10% due to cost-cutting measures to maximize the returns on their investments. Investors intend to squeeze every penny out of seniors, and there is no end to the nursing home abuse and neglect in sight.

If you or a loved one has suffered nursing home abuse and neglect, report the incident straight away. File a police report and contact Adult Protective Services. Gather all your evidence, as you can receive compensation if you can prove your case. Compelling evidence includes pictures and videos, if possible.