Daily News | Inglis House cancels nursing home sale, citing bigger-than-expected Medicaid increases
, was not enough to stave off financial decline at Inglis. Operating losses have averaged $15 million a year for the last five years, according to Inglis.
But instead of the anticipated 17.5% increase, Inglis received a 34% increase, to $580.24 per day, according to a spreadsheet posted on the web site of the Pennsylvania Department of Human Services. Inglis cares for medically complex patients and will receive the second highest rates in the state, behind Fox Subacute at South Philadelphia, which cares for patients on ventilators.
Inglis officials said even the new, higher rates won’t cover all the costs of the care at the nursing home, which has 252 beds. “However, the impact will be enough to change our financial picture such that we no longer need to pursue a sale,” James G. Logue, chair of the Inglis board, said. Uri Kahanow, director of acquisitions for Tryko Partners LLC, which had agreed to pay $22.3 million for the nursing home and an apartment building on the same campus, said the Brick, N.J., company supported the decision by the Inglis board.
Inglis said it will withdraw its Philadelphia Orphans’ Court petition seeking approval of the sale. Such petitions typically attract little attention, but because of Inglis’ long history, the deep engagement of families whose loved ones live there, and a tradition of
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Commentary: Lege, expand access to health care for childrenChildren’s hospitals need stability and predictability in their Medicaid reimbursement...
Read more »
Obamacare enrollment to open this spring for people losing Medicaid after pandemic protections endMillions of people could lose Medicaid this year as pandemic-era coverage protections come to an end.
Read more »
Ex-Twitter employees to testify before House Intel Committee over Hunter Biden laptopA trio of former Twitter employees will appear before the House Oversight Committee for testimony on Feb. 8, marking the first session for the committee under chairman Rep. James Comer (R-KY).
Read more »
Former Texas basketball coach Chris Beard’s Austin house listedThe asking price for the Tarrytown house, which has four bedrooms and five bathrooms, is $4.95 million.
Read more »
House Foreign Affairs big agrees US likely headed for war with China“I hope he’s wrong,” Republican House Rep. Michael McCall said of the general’s prediction. “I think he’s right, though, unfortunately.”
Read more »
Milanese-inspired eatery Casa Lever renews long-term lease at Lever HouseCasa Lever, part of thriving Sant Ambroeus Hospitality Group, renewed its lease long-term at Lever House, the landmarked office tower at 390 Park Ave.
Read more »