Slide 2: Introduction
According to National HealthCare Corporation (2016), the organization also generates revenue by managing seven skilled nursing facilities, three assisted living facilities, and one independent living facility owned by third-party operators. Additionally, they have a partnership agreement and a 75.1% non-controlling ownership in Caris Healthcare. Caris Healthcare specializes in hospice care and has 26 locations in four states. Further, NCH provides accounting and financial services to 20 skilled nursing facilities for small operators. Lastly, the organization operates four regional pharmacy operations. These pharmacies serve 56 owned facilities, six managed facilities, and 13 third party entities.
Slide 3: Short and…show more content… In addition, according to the American Physical Therapy Association (2011) most nursing facility patients are appropriate candidates for therapy services. Therapy services improves patient outcomes by reducing falls, improving mobility, and reducing chronic pain. In addition, providing therapy services will ultimately increase profits. Conway (2013) suggested effective health information technology systems facilitate safe, effective, timely, patient-centered, efficient, and equitable health care. Finally, expanding into new markets will enable NHC to form new business partnerships, increase economies of scale, and boost brand recognition.
65% of NCH’s patient revenues are derived from Medicare or Medicaid. Importantly, these government programs are subject to frequent and substantial changes. Nursing and physical therapist shortages are expected to worsen. In fact, the American Physical Therapy Association (2014) claims there will be a physical therapist shortage of up to 28,000 by 2020. Moreover, Carnevale, Smith, and Gulish (2015) reported there will be a shortage of nearly 100,000 nurses by 2020.…show more content… Leaders recognize improving clinical quality will have many benefits for both, residents and the organization. For example, it will benefit residents by improving satisfaction, reducing complications, and improving their quality of life. It will benefit NCH by reducing turnover, improving occupancy rates, attracting top talent, and enhance employee satisfaction (Advancing Excellence in America’s Nursing Homes, n.d.). Increasing professional development opportunities will be key for improving clinical quality. Professional development enhances the clinical staff’s competencies and will decrease turnover, which will enable NHC to experience a greater financial return on their development