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June 9, 2020

Did The Coronavirus Make Nursing Homes Rich?

Nursing homes have struggled for survival over the last years and, unfortunately, many have closed their doors because they were no longer financially viable (read: they couldn't afford to stay open).

Recently, there were a few government handouts to nursing homes that really put a lot of money in their pockets in the short run. This should really equip them to manage through the rest of this crisis even with all the added expenses.

But is it enough?

Let's find out!

In this episode we meet Michael Citronenbaum of Unclaimed Financial, a company that finds money that's rightfully theirs. These funds are from unclaimed insurance claims, forgotten accounts and other sources. 

Today we learn about the recent financial assistance programs available to nursing home providers which puts them in a much better financial position for the short term. 

This will enable them to manage some of the immediate financial challenges while managing this crisis.

  • HHS - government funding initiative for care providers
  • PPP - Payroll Protection Program

Reach out to Michael!


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