NURSING HOME FINANCING
Phoenix understands the needs of this specialized industry, and welcomes the opportunity to serve the financing needs of new and existing facilities. Timely service and competitive financing rates enable us to provide creative solutions.
Over the last decade, the nursing home market and characteristics of the nursing home population have changed. In 1987 there were a total of 14,050 nursing homes with a total of 1.48 million beds, compared to 16,840 nursing homes with a total of 1.76 million beds in 1996. This represents a growth of almost 20% in ten years.
The proportion of nursing homes certified by both Medicare and Medicaid (dually certified) rose from 28% to 73% in this same period. The proportion of Medicaid only fell from 50% to 17%. The passage of the Omnibus Budget Reconciliation Act of 1987 greatly reduced the incentive to remain certified by Medicaid only.
In the meantime, the growth in the elderly population has outpaced the growth in the supply of nursing home beds.
The need for financing to meet the increasing demand for expanded facilities and services in this industry is expanding exponentially. Phoenix Financial Services, LLC is ready to provide solutions to this need and welcomes qualified applicants for nursing home and assisted care facility financing.
"Phoenix's attention to detail and knowledge of the Nursing Home Industry enabled us to restructure existing debt, to expand our operations, and to add assisted care services to our facility."
NURSING HOME AND
ASSISTED CARE FACILITY
John Couture, Owner
