The COVID-19 pandemic revealed that for-profit long-term care homes had worse patient outcomes than not-for-profit homes. A new study found that of those for-profit homes, long-term care homes (LTCs) owned by private equity firms and large chains have the highest mortality rates.
The study, conducted by University of Waterloo professor Martine August, traced the growing dominance of financial firms in seniors housing, including LTCs and retirement living.
The study reported that nursing homes with the highest profit margins have the lowest quality as financialized ownership and are even more aggressive in seeking to extract value from care homes and the people who live and work in them.
— Read on uwaterloo.ca/news/media/private-equity-long-term-care-homes-have-highest-mortality