Long-term care facilities can be divided into two broad categories: non-profit and for-profit. Non-profits are usually government-run and funded. For-profits are generally privately run, but some for-profit facilities may be affiliated with non-profits like that of Ben Friedman Toronto.
Non-Profit Long Term Care Facilities
Non-profit long-term care facilities provide a mix of health care, social activities, and housing services to older adults. Most nonprofit long-term care institutions have a distinct focus on providing seniors with medical services such as nursing, doctors’ offices, respite and rehabilitation programs, and social activities like recreation programs or arts and crafts classes. However, there is no fixed set of services that all non-profit long-term care facilities provide to their residents; each facility is different in its way.
For-Profit Long Term Care Facilities
For-profit long-term care facilities are owned by private companies and offer various services such as medical, residential, and nursing care. These facilities are often referred to as nursing homes or assisted living facilities. Because they are privately run, for-profit, long-term care facilities have the freedom to customize their services to meet the needs of their residents rather than follow a set standard. This can result in significant benefits for older adults, such as more individualized services and home-like environments. However, some potential downsides to for-profit facilities need to be considered before deciding where an older adult will live after retirement.
Risks of For-Profit Long Term Care Facilities
Profit long-term care facilities may be less regulated than non-profit institutions, which means that there may not be as many regulations in place preventing abuse or mistreatment of residents by employees and other employees. Also, many people prefer for-profit facilities because they are less likely to be run by government employees who may have political agendas. However, some for-profit long-term care facilities may use aggressive sales tactics and pressure residents to sign contracts that lock them into years of payments, even if they cannot afford it. Another potential risk is that the facility could go out of business, leaving residents without a home.
For-Profit Long Term Care Facilities and Medicare
There is often confusion about the differences between long-term care facilities owned by private companies and those that the government or non-profit organizations own. The main difference is whether or not the facility accepts Medicare and Medicaid or private insurance as payment for services. There is no difference between for-profit and non-profit types of long-term care facilities when it comes to Medicare and Medicaid. Any facility that accepts these funds will accept both as payment for services provided by its employees.