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Star ratings can affect financing for nursing homes in Illinois

On Behalf of | Dec 19, 2019 | Nursing Home Abuse & Neglect

Nursing home abuse and neglect are some of the worst things that can happen to the elderly. These cases are troubling because they affect the people who rely on the support of others the most.

What’s good to know is that the lenders who give loans and consider financing skilled nursing facilities will withdraw their support if they find issues in these facilities. These lenders offer loans through the Department of Housing and Urban Development (HUD.) To be able to give a loan, they do need to look into the operation’s history, both clinical and financial. If there are red flags, the investment might not be considered good, and the nursing home or skilled nursing facility may not get the loan it’s looking for.

Star ratings are one of the measurements used to determine the clinical and financial health of a nursing home. Since the Centers for Medicare & Medicaid Services (CMMS) updated the star system, it has become harder for nursing homes to obtain (and maintain) the high marks they want. That’s really alright, though, because for families looking for care that is top of the line, high star ratings truly mean quality care.

Nursing home care can be a risky business, but star ratings are a good way to know what your loved one might be getting into as well as knowing if the facility can continue to get the financing it needs to support its patients. There are more factors than star ratings that play a role in financing, but they’re a major part of understanding the quality of a nursing home.