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Do We Need More Federal Intervention to Stop Profiteering in the Nursing Home Industry?

By Health Care Info | March 18, 2010



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When Connecticut Attorney General Richard Blumenthal went before Congress a few weeks on the need for greater oversight in the nursing home industry to discuss, he said, fresh from the wound in one of the worst effects of corporate aspiration of the recent past, as bad or worse than the ENRON fiasco, but far less known. Blumenthal cited his experiences in the ongoing battle with Haven Healthcare, one of the largest managers of nursing homes in Connecticut. The company, which has 25 nursing homes in New England, managing 15 in Connecticut in the 1990s, filed Chapter 11 bankruptcy protection in November. The filing came the same day as the conclusion of a three-part setting of the local newspaper, The Hartford Courant, and only two days after CEO Ray Termini reiterated his company’s “commitment to quality care, adequate staffing and financial management.” However, as a result of the coverage of the Hartford Courant and court documents, was released due to the bankruptcy declaration, we now know that terms only one thing: put money from the families of the elderly and the sick and made it into his pocket. A review by the Connecticut Department of Social Services termini showed that more than 15 million U.S. dollars in assets diverted from the nursing home chain in his personal investments and his wife’s checking account. The money from checking his wife’s account was used to acquire several properties in Connecticut and Florida, rental properties in Connecticut, and $ 1. 5 million yacht. The main investments made were in terms of Category 5 Records, a label of Nashville country star Travis Tritt headlining. The company received nearly $ 9 million in loans from Haven Healthcare, in addition to the acquisition of $ 2 1 million center, with more than half a million in cash. While this money was to be diverted, ran the company’s nursing staff with the bare minimum needed to avoid severe penalties and thus well below the national average staffing level, and was cited provide numerous injuries, with one of his houses are fine State of Connecticut. Additionally, the company received million in reimbursements from Medicare to pay for drugs used in the home, but do not pay their bills, the purchase of 20 million U.S. dollars in debt to medical supply stores. It did not take pay taxes on the property of their homes, or even their electricity bills. In December 2005, the oil was at a nursing home was shut off for delinquent payments, and in January 2006 threatened to shut down Connecticut Light & Power Electric Service to six nursing homes run by the company. Although it is one of the worst examples of corporate greed at the nursing home industry, it is by no means an isolated case. Consider the case of the National Health Care Associates, Inc., whose financial misconduct have not yet been fully exposed. It is known that their nursing homes in Connecticut and New York, which are ill-equipped work is understaffed and underfunded, developed through sham companies in order to deflect negligence of the parent company. When people file lawsuits against the nursing home, the bogus company folds, the protection of the parent company from liability. The sign company is no more than a dry husk of a company, barely legal, and the bankruptcy is opened, as if you squeeze blood from a turnip. Thus, increased federal oversight to protect us from this kind of capitalist piracy? Blumenthal proposed a powerful federal-state partnership that track the financial center of nursing home conglomerates can, and a strike force to investigate swiftly nursing home corruption. In addition, Member States would be obliged to regular audits of corporate bleeding, prevent self-perform transactions, and corporate fronts. But such monitoring is expensive, and with economic decline and financial solvency of many countries share “in danger of bleeding and executive of the federal government into the personal war of our leaders, it seems unlikely that either the state or the federal government must fulfill the validity of his half will be part of the bargain. Perhaps the only possible solution to this problem is to remove profit from the equation. Enron, MCI WorldCom and other companies indicate that if there are profits to be made, managers find ways to filter, to collect funds for their personal accounts, while the company slides into bankruptcy, where workers and the economy. In the field of nursing, the failure of companies also puts people in danger, not only in terms of their livelihoods but also their lives. This is too big a risk, and we need a system that makes the elderly the goal, not just a means to profit. Until we can get this new system, the only way to protect your loved ones from nursing home neglect, is constant vigilance. A personal injury lawyer can help you make that corporate jackals where it hurts: in their profits, but in some cases, you must act quickly to the challenges before the loved one is the full extent of the injuries suffered and file before the jackals can Scattering from the corpse, so that only the bones of the management of enterprise back.

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