Trends in Long-Term Care - U.S. Senate Special Committee on Aging

44%I
342 '
37% $0
2902
DEBT TO EQUITY
3 1%$384 $388
11% $242 250/
219,."'
55%g,#
Now, these are the numbers, these represent numbers, which are
actual dollars, medicaid dollars which were changed, which were <strong>in</strong>creased
due to transfers of ownership of the property, the transfer of
ownership of the nurs<strong>in</strong>g home itself.
For example, Ann Weiss, when the green leads to the blue, that
transfer, this is the same situation, where that would happen, and this
is what we have.
Here we have one <strong>in</strong>stitution where the reimbursement rate is <strong>in</strong>creased
from $342,000 to $492,000, an <strong>in</strong>crease of nearly 46 percent.
Here we have an <strong>in</strong>crease from $78,000 to $107,000, an <strong>in</strong>crease of
37 percent.
Here we have a m<strong>in</strong>imum, which is $380,000 to $384,000, less than 1percent
<strong>in</strong>crease.
Here $219,000 to $242,000, an 11-percent <strong>in</strong>crease, and last, $250,000
to $388,000, an <strong>in</strong>crease of 55 percent.
Now, these are costs which were <strong>in</strong>creased <strong>in</strong> the past 3 years.
There are others that we have, there are not a lot of big costs, but
they do have them, these were entered <strong>in</strong> the past 3 years, from 1971
to the present, and the costs were allowed as <strong>in</strong>creases, that will hold
forevermore as far as costs are concerned, so that real estate manipulations,
and real estate transfers can be very profitable.
Here is an additional $150,000 a year, for as long as the build<strong>in</strong>g
cont<strong>in</strong>ues to operate, and this is the build<strong>in</strong>g that is the same build<strong>in</strong>g
that was when it was down here.