Is The Push To Privatize A Chicagoland Nursing Home A Good Thing?
It's no secret that privately operated, "for-profit" nursing homes tend to provide inferior care and have higher rates of deficiencies that their "non-profit" peers, yet a Chicagoland community is set to possibilily turn over the operation of a long-time nursing home to a private company. Citing the financial burden of providing quality patient care within the standardized medicare reimbursement rates, Lake County has summoned a panel of experts to an advisory board to help determine if the county should shift operation of the long-standing Winchester House in Libertyville, IL to a private nursing home operator. Advisory board chairman, Ric Olson...
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Ouch! Chicago Nursing Homes Average $77,198 Per Year
As if there wasn't enough depressing economic news already bombarding you on a daily basis, a new report in Crain's shows the cost of long-term care in Chicago has been increasing 6% annually since 2005-- more than three times the rate of inflation. According to a study completed by Genworth Financial Inc., the average cost of a private nursing home in Chicago will cost you $77,198, while a year admission to an assisted living facility in Chicago will cost you $46,398. The nursing home costs in Chicago are sharply higher than the Illinois average rate of $62,974 and the national...
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