Meanwhile, despite the continued profitability of the nursing home industry AND the millions the industry received from the Trump bailout, the nursing home industry lobbyists continue to ask for legal immunity and a $10 billion slush fund. The $2.2 trillion federal stimulus package included $175 billion to be distributed by the Department of Health and Human Services to healthcare providers.
Lobbyists are now demanding the federal government create a dedicated fund for skilled nursing operators — like it did for hospitals — to aid them in their coronavirus response. The American Health Care Association/National Center for Assisted Living is specifically calling for the federal government to set aside $10 billion in relief funding for skilled nursing facilities.
Do they really need it?
The Ensign Group (Nasdaq: ENSG) has logged another record quarter to start 2020. The San Juan Capistrano, Calif.-based operator saw a 28.3% increase in its per-share earnings over the fourth quarter of 2019 — which itself represented another record — earnings figure was also a 92.5% increase over the same time last year.