Garfunkel Wild was mentioned in the Skilled Nursing News April 7, 2021 article entitled “New York to Cap Nursing Home Profits at 5%, Require Operators to Spend 70% of Revenue on Direct Care. ” The article referenced Garfunkel Wild’s Legal Alert “New York Budget Requires Nursing Homes Spend 70% Of Revenue On Direct Resident Care.”
In the Skilled Nursing News article, Garfunkel Wild’s analysis of the budget was referenced “The 5% profit cap applies to the difference between total revenues and all operating and non-operating expenses. The budget will require operators to spend 70% of revenues on direct patient care costs, including 40% on staffing; the so-called “minimum spending requirement” applies to expenses such as laundry, housekeeping, nursing, and ancillary services.”
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