Financial exploitation has become a severe issue for nursing home residents, exacerbated by a combination of commodification of elder care, aggressive investments from equity firms, and the aftermath of the COVID-19 pandemic. This shift towards profit-driven models has compromised the core mission of nursing homes, transitioning them into profit centers that prioritize earnings over quality of care. As highlighted by Timothy Diamond's study on nursing homes, the need for substantial reform is critical to protect America's elderly, ensuring their dignity and care in a vulnerable stage of life.
The commodification of elder care, exemplified through the 'gray gold' phenomenon, has fundamentally altered nursing homes from care-centered facilities to profit-driven enterprises.
Nursing homes have become profit centers, allowing aggressive financial exploitation to thrive as the ongoing pandemic highlighted pre-existing flaws in the elder care system.
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