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Fitch Ratings forecasts negative outlook for nursing homes, CCRCs. (Nursing Home Ratings Outlook).

Publication: Health Care Strategic Management
Publication Date: 01-APR-03 		Format: Online - approximately 704 words
Delivery: Immediate Online Access

Article Excerpt
Fitch Ratings says its outlook for the nonprofit nursing home sector is negative due to the severe financial pressures that are expected to weaken the sector over the near and long terms.

The New York-based bond credit ratings agency said it believes the sector's most significant challenge in 2003 will be cuts in already inadequate Medicaid reimbursement. Roughly 60% of nonprofit nursing homes patients are Medicaid recipients. Fitch noted that Maine, Illinois, Indiana, Virginia, Iowa, Ohio and California are all looking at reducing or freezing Medicaid reimbursement rates in 2003, and that other states may follow.

Medicare reimbursement is profitable now, due to temporary...

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