Finance Inquirer
No Result
View All Result
Friday, July 11, 2025
  • Login
  • Home
  • Business
  • Technology
  • Finance
  • Stock Market
Subscribe
Finance Inquirer
  • Home
  • Business
  • Technology
  • Finance
  • Stock Market
No Result
View All Result
Finance Inquirer
No Result
View All Result
Home Finance

Iowa Nursing Home Operator Forced Into Bankruptcy By “Crippling” Staff Shortages

Tom Hagler by Tom Hagler
09.01.2022
in Finance
Iowa Nursing Home Operator Forced Into Bankruptcy By “Crippling” Staff Shortages
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

Iowa Nursing Home Operator Forced Into Bankruptcy By “Crippling” Staff Shortages

Here’s just the latest example of why forcing health-care workers to get vaccines and boosters – like the State of New York is still doing – is an untenable policy at best, and a stepping stone to disaster at worse.

Bloomberg reports that a chain of nursing homes in Iowa has just been forced into bankruptcy, placing even more strain on the creaking local health-care system, due to “crippling” staff shortages.

Court documents reflect how the company, QHC Facilities LLC, which hosts a total of 750 beds across its 8 nursing homes and two assisted living facilities, has been devastated by the twin pressures of COVID deaths among its patients (many of whom fall into the most susceptible category of patient), and resignations en masse among its workers. One of its homes even made it on to a list of “America’s worst nursing homes”.

QHC Facilities LLC filed for bankruptcy last week, citing “crippling staffing and employee retention issues” in a court filing. The Clive, Iowa-based company operates eight skilled nursing facilities and two assisted living homes with a total of about 750 beds in the state and 300 workers.

Occupancy rates plunged as Covid-19 spread through nursing homes, which accounted for a large proportion of deaths early in the pandemic. At the same time, the health-care sector has suffered from mass resignations as workers face burnout and seek more lucrative employment, contributing to swelling gaps in coverage.

Fortunately for the state’s health-care system, a judge back in November blocked a federal vaccine mandate for health-care workers in Iowa and eight other states. Clearly, that was a prescient decision.

To be sure, the company was struggling even before the pandemic. Local media reports out of Iowa showed QHC Facilities had been fined many times in recent years for substandard patient care.

But some of the obstacles facing the firm were completely out of its control.

One of its facilities was damaged in a strong storm in 2020 and still hasn’t been rebuilt. The death of the company’s co-founder in June “had a devastating impact” on the business, his spouse and Chief Executive Officer Nancy Voyna said in the filing, leaving unmet obligations including a $4 million state fee.

The company is seeking a buyer for its assets. But with all the additional government scrutiny brought on by COVID, who really wants to get into the nursing home game right now?

Tyler Durden Sat, 01/08/2022 – 20:07

  • Trending
  • Comments
  • Latest
P2Pro: profitable changes are coming!

P2Pro: profitable changes are coming!

13.09.2022
Saving and investing the two keys to your future retirement

Saving and investing the two keys to your future retirement

21.06.2022
The Dow Jones slept through the whole trade despite positive data from the labor market. Nasdaq had its best streak of gains this year

The Dow Jones slept through the whole trade despite positive data from the labor market. Nasdaq had its best streak of gains this year

01.09.2022
The ranking of countries in terms of the coverage of children with preschool education has been compiled

The ranking of countries in terms of the coverage of children with preschool education has been compiled

03.11.2022
Take the best photos of your life with the new vivo Y76 5G now available

Take the best photos of your life with the new vivo Y76 5G now available

Complete your Christmas shopping with up to 75% off on devices at vivo’s Big Christmas Sale on Shopee

Complete your Christmas shopping with up to 75% off on devices at vivo’s Big Christmas Sale on Shopee

AirPods 3 vs AirPods 2 – What’s the Difference?

AirPods 3 vs AirPods 2 – What’s the Difference?

Want to be a content creator? Here are 5 valuable tips from today’s top Pinoy online celebrities

Want to be a content creator? Here are 5 valuable tips from today’s top Pinoy online celebrities

PuzzleFree Game Set to Launch in July 2025

PuzzleFree Game Set to Launch in July 2025

08.07.2025
The $14.6 Billion Question: What the Largest Healthcare Fraud Takedown in History Means for Medical Leaders and Investors

The $14.6 Billion Question: What the Largest Healthcare Fraud Takedown in History Means for Medical Leaders and Investors

08.07.2025
Instant Cargo Analysis 24/7: How XRF Analyzer Speeds Up Quality Control for Raw Materials

Instant Cargo Analysis 24/7: How XRF Analyzer Speeds Up Quality Control for Raw Materials

08.07.2025
HIT-NOT reduces forklift accidents and increases safety in logistics

HIT-NOT reduces forklift accidents and increases safety in logistics

07.07.2025

Recent News

PuzzleFree Game Set to Launch in July 2025

PuzzleFree Game Set to Launch in July 2025

08.07.2025
The $14.6 Billion Question: What the Largest Healthcare Fraud Takedown in History Means for Medical Leaders and Investors

The $14.6 Billion Question: What the Largest Healthcare Fraud Takedown in History Means for Medical Leaders and Investors

08.07.2025

Categories

  • Business
  • Finance
  • News
  • Stock Market
  • Technology
  • Без рубрики

Site Navigation

  • Home
  • Contact Us
Finance Inquirer

We offer multimedia features, easy channel navigation, strong social media presence and numerous engagement platforms that allow the readers to experience content anytime, anywhere, always.

No Result
View All Result
  • Home
  • Business
  • Technology
  • Finance
  • Stock Market

© 2021 financeinquirer.com

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In