He said their current rate of reimbursement is $1,217 a month, or just over $40 a day.
“For $40 a day, we had to provide 24-hour care, 24-hour supervision, three meals a day, activities and case management,” he said.“We’ve been losing money for several years at that location as a result of that.”
The future didn’t seem to paint any brighter picture, Mr. Kane said.
“We’re at a point where we’re looking at a multitude of things. We’re looking at a state budget that is upside down. We’re not seeing any chance on the horizon of an SSI increase. We’re facing Obamacare, which is a big thing for our company. We’re facing a minimum wage increase, which has a significant impact on health care facilities,” he said.
“When you take the prospect of no rate increase coming and hold that against what we see as the expenses that are going to be going up dramatically over the next year, we just can’t do it any longer. As much as we want to, it’s impossible,” Mr. Kane said.