CounterPunch Exclusives

CounterPunch Exclusives

Private Equity is Taking Over Nursing Homes and Seniors are Paying the Price

Photo by Annabel Podevyn

As Americans age, we deserve the peace of mind that we can find nursing care for our parents or ourselves when we need it. But for private equity firms, that need isn’t a mission to fulfill — it’s an opportunity to profit at our expense.

As private equity takes over more nursing care, studies show higher mortality rates, reduced staffing, and increased costs as a result. But seniors are fighting back.

I live in Lincoln County, Wisconsin. For generations, our public nursing home — Pine Crest — has served our seniors. “Pine Crest is there for us when we need it. It’s worked that way for 70 years,” said retired accountant and Pine Crest Nursing Home volunteer Eileen Guthrie.

Eileen and I were among the concerned locals who tirelessly fought to keep our five-star-rated home in public hands when the county board put it up for sale to the highest bidder. Few wanted to privatize our beloved county-owned institution, which always treated residents with love and respect. Privatizing it would turn us........

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