hackensack meridian health subacute rehabilitation wall township nj

The pandemic in New Jersey has caused the deaths of 149 staff members and more than 8,500 residents of long-term care, along with significant financial losses due to higher costs, staff shortages and a dwindling number of residents. Its Red Bank nursing home will remain under current ownership until a potential buyer is found, and Hackensack Meridian will continue to own two joint-venture nursing homes, he said. The health system will retain its homecare and hospice programs, assuring several 'touch points' along the continuum of care, said Ben Goldstein, a spokesman.

The decision to sell its long-term care properties resulted from changes in the industry caused by the COVID-19 pandemic, the announcement said. Hackensack Meridian describes itself as an integrated health care system and has prided itself on providing a continuum of care from birth through death. Government reimbursement through Medicaid and Medicare provides the vast majority of nursing home reimbursement and provides little opportunity for increased revenues. The deal would expand the domination of New Jersey's long-term care industry by for-profit owners, who extract profits by reducing costs. Residents were informed of the possible change in August. Garrett, the president and CEO of Hackensack Meridian, said in a statement. 'After careful consideration over the past several months, we have decided to partner with Complete Care, a leading provider of short-term post-acute rehabilitation, and long-term and specialty care, for them to acquire the majority of our long-term care facilities,' Robert C. Terms of the proposed sale, which must be approved by the state Department of Health, were not disclosed.

The agreement affects 11 of Hackensack Meridian's 14 long-term care facilities, with approximately 1,630 beds and 2,100 employees, a spokesman for the health system said. Its cost-cutting strategies in previous acquisitions led the head of the state's largest health care workers' union to call for a thorough state review of the purchase. One of its homes - Complete Care at Fair Lawn Edge, located in Paterson - recently made the State Comptroller's list of 15 'lowest rated long-term-care facilities' in New Jersey. Hackensack Meridian Health plans to sell a majority of its nursing homes and assisted living residences to Complete Care Management, accelerating New Jersey's shift away from nonprofit control of long-term care facilities to for-profit ownership.Ĭomplete Care, founded in 2015 and headquartered in Toms River, is one of the fastest-growing and largest nursing home chains in the state. Watch Video: Medical school graduates read 'The Physician's Pledge'

Hackensack meridian health subacute rehabilitation wall township nj