Thursday, January 23, 2014

Seniors pay $7100.00 per month to be neglected. THANK YOU WALL STREET!

Emeritus, for its part, rejects any suggestion that a quest for profits has tainted its admission practices. But in interviews, former Emeritus executives described a corporate culture that often emphasized cash flow above all else. The accounts of the executives, who spoke independently but anonymously, were strikingly consistent.
“It was completely focused on numbers and not human lives,” said one executive, who worked for Emeritus for more than three years and oversaw dozens of facilities in Eastern states.
The company’s emphasis on sales and occupancy rates, the executive said, transformed the workforce into “a group of people who were grasping at every single lever they could pull to drive profitability.”

http://www.alternet.org/seniors-paying-7125-month-be-neglected-what-happened-when-wall-street-got-involved-assisted-living?akid=11431.294211._kZsH-&rd=1&src=newsletter950403&t=4

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