And many times, the nursing home financials will show that the nursing home is barely bringing in enough money to stay in business. But that’s not the whole story.
In fact, nursing home owners in Oklahoma have developed an elaborate scheme to siphon money from their nursing homes and into their pockets. The owners usually own not only the licensed nursing home but also the building and the management company that actually operates the nursing home. The owner-controlled nursing home signs agreements with the owner-controlled landlord and the owner-controlled management company.
So, if the nursing home is not making a profit, it’s usually because the owners have taken so much of the nursing home money in the form of lease payments (to themselves) and management fees (to themselves). Instead of spending money on the care of the residents, the owners give it to themselves.
If you or a loved one has or is currently dealing with improper removal or transfer from a nursing home facility, please contact Lloyd & Lloyd. We can walk you through the legal process and determine if you qualify for compensation.