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Thursday, November 21, 2024

Who owned Cardinal Healthcare and Rehabilitation in Q4 2023?

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CMS Principal Deputy Administrator and Chief Operating Officer Jonathan (Jon) Blum | thepcc.org

CMS Principal Deputy Administrator and Chief Operating Officer Jonathan (Jon) Blum | thepcc.org

As of the fourth quarter of 2023, Cardinal Healthcare and Rehabilitation was owned by Centennial Healthcare Holding Company, LLC, according to Centers for Medicare and Medicaid Services (CMS). The nursing home, located in Lincoln County, has been owned by Centennial Healthcare Holding Company, LLC since Aug. 1, 2004.

Cardinal Healthcare and Rehabilitation is registered as a for-profit facility.

During that period, the nursing home had an overall rating of one from the CMS, which is lagging behind the average of 2.6 recorded for nursing homes in North Carolina. CMS ratings evaluate nursing homes based on critical aspects such as health inspection outcomes, staffing levels, and the quality of care provided to residents.

According to the data, Cardinal Healthcare and Rehabilitation aided an average of 60.2 residents per day during the fourth quarter of 2023, with a total of 63 beds available. Currently, the nursing home is not located within a hospital.

As of the fourth quarter of 2023, Cardinal Healthcare and Rehabilitation spent a total of $38,938 in three fines and suffered three penalties.

In total, there were three for-profit nursing homes in Lincoln County, North Carolina.

According to US Census data, in 2020, nearly 1 in 6 Americans were aged 65 years or older. Since 1920, the older population skyrocketed from 4.9 million to 55.8 million, reflecting a growth rate of roughly 1,000%, five times higher than the average growth for the overall U.S. population.

A 2021 study suggests that nearly half of this age group, roughly 28 million individuals, may require long-term services and support. Additionally, the study projects that over a third of them may eventually need nursing home care.

“Living a long life is something that many of us want and could get,” said Jesse Slome, executive director of the American Association for Long-Term Care Insurance, an insurance education group. “But when we live a long life, the chances of us needing long-term care increase exponentially. But when you need that type of care, there are limited options.”

Nursing Homes in Lincoln County as of Q4 2023

Nursing HomeOwnerOwnership TypeOverall RatingAvg. No. of Residents per day
Cardinal Healthcare and RehabilitationCentennial Healthcare Holding Company, LLCFor profit - Limited Liability company160.2
Lincolnton Rehabilitation CenterSovereign Carolina Holdings, LLCFor profit - Limited Liability company4104.4
The Greens at LincolntonBync Holdings, LLCFor profit - Limited Liability company1100.7

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