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Long Term CareSTORY OF THE WEEK Share this article with a colleague!
Oklahoma Believes Nursing Homes Should be Financially Responsible
The Oklahoma Senate unanimously passed a bill that would require nursing homes to prove
their financial stability. A growing number of nursing homes in Oklahoma are not financially sound and
cannot respond to legitimate claims for compensation when one of their residents is seriously injured or
killed due to neglect or abuse.
Senate Bill 1549 includes the financial solvency requirement for nursing homes. The bill would require nursing home operators to prove they have sufficient assets to cover claims of resident abuse or neglect. If the nursing
home operator fails to keep sufficient assets and does not carry liability insurance the officers, directors
and shareholders of the nursing home operator would be personally liable to a nursing home resident or
their family when someone is abused or neglected. “There are too many nursing homes in Oklahoma
being run by operators without sufficient assets,” says Hugh M. Robert, executive director of the
Oklahoma Center for Consumer and Patient Safety.
“Based on information provided to the center, over 20 percent of the beds in Oklahoma are in uninsured
nursing homes,” says Robert. “The number is likely a lot higher but since it is not currently required or reported, we have to rely on unofficial methods of collecting the data.”
“A family who places the care of their loved one in the hands of a nursing home operator has right to expect that the nursing home is financially responsible,” Robert urges. There are many Oklahomans whose loved ones have
suffered serious neglect but cannot pursue a claim for compensation because the nursing home operators have
hidden their assets and won’t carry insurance.
Source: Oklahoma Center for Consumer and Patient Safety, March 11, 2008
This is an essential financial-management handbook for practice administrators, financial managers and entry-level administrators. This second edition covers the basics of financial management, including financial analysis, budgeting, cash-flow analysis and cost accounting.
Financial Management for Medical Groups, 2nd edition is available from the Healthcare Intelligence Network for $45.50 by visiting our
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