This New York Times series examined how businesses and investors are reaping enormous profits by exploiting the soaring number of older Americans.
The Times‘ major findings regarding health care issues included:
* Private investment groups have bought thousands of nursing homes in recent years, and then cut costs to increase profits. In the past, residents have responded to declines in care by suing, and regulators have levied heavy fines. But private owners have made it difficult for plaintiffs to succeed in court and for regulators to levy chain-wide fines.
* Some long-term-care insurance companies have developed procedures that make it difficult, if not impossible, for policyholders to get paid.
* Companies that manufacture everything from walking canes to oxygen equipment are charging Medicare billions of dollars more than they charge individual customers for the exact same products and services.
Judges’ Comments: After scouring public records from state and federal agencies, Charles Duhigg lays out how the elderly are being exploited in three stories from his six-part “Golden Opportunities” series. His exhaustive reporting alerted congressional leaders and state lawmakers to the need to overhaul nursing home regulation and provoked some companies to change their business operations.