Demand for long-term nursing home occupancy might soon exceed supply in many states, and Kennett Square-based Genesis HealthCare is poised to capitalize on this, writes Alex Spanko for Skilled Nursing News.

Long-term nursing homes are closing their doors for good across the nation due to Medicaid shortfalls. Meanwhile, the construction of new skilled nursing facilities offering Medicare and Medicaid options are mostly nonexistent.

“You’re going to continue to see an acceleration of the decline of nursing home beds,” said Genesis CEO George Hager.

This is good news for Genesis, which currently has more than 400 skilled nursing centers nationwide and plenty of room to spare.

“We’re very happy to bring on patients that need our services that have long-term care needs,” said Genesis CFO Tom DiVittorio. “We think that that’s the real opportunity over the next couple of years here in continuing to grow that occupancy.”

In fact, if each of the company’s facilities received just one extra long-term care resident with a 365-day stay, Genesis’s revenues would increase by $25 million. Due to the industry’s reduction in supply, the company anticipates adding two Medicaid residents per building in the coming years.

Read more about Genesis HealthCare at Skilled Nursing News here.

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