Providers struggling with everyday expenses and reimbursement rates that have largely failed to keep up with the costs of care plan to pursue a broad range of new revenue streams this year.
That’s according to findings from the McKnight’s 2022 Outlook Survey. It collected information from 317 nursing home owners, executives, administrators and nurse leaders between Dec. 10 and Dec. 30.
Nearly 55% percent of all respondents cited either Medicaid or Medicare reimbursements as a top concern for 2022. One-third (33%) said they expected their organizations to be more involved with managed care in 2022, with 22% expecting to see “explosive growth” in residents’ managed care selections.
“The growth of Medicare Advantage is one of the few inevitabilities in healthcare,” says Hank Watson, chief development officer at American Health Partners. “The nursing home industry has ample experience of what increased Medicare Advantage penetration means for their facilities in a fee-for-service world, such as rate reductions, collection challenges and aggressive prior authentication processes.”