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Background: The financial status of nursing homes (NHs) is a policy concern, especially during a pandemic, because of the higher costs associated with infection prevention and resident care. Methods: This exploratory study was designed to assess the impact of the federal and state COVID‐19 funding support on California NHs profitability during 2020, the first year of the pandemic, compared with 2019, the last pre‐pandemic year. The study examined the association of Medicare and Medicaid days, related‐party transactions, as well as other facility characteristics on net income profit margins, using cross‐sectional regression analysis of data from state NH cost reports and federal NH provider data for 2019 and 2020. Results: California skilled NHs had average reported net income profit margins of 2.26% in 2019 and 7.0% in 2020 with wide variations (from a loss of about 48% to a gain of 74% in 2020). Regression analysis found that the number of beds, occupancy rates, high‐quality rating scores, and medium and high proportions of Medicare resident days were positively associated with net income margins in 2019 and 2020. Chains in 2020 (but not 2019), related‐party expenditures in 2019 and 2020, median Medicaid days (in 2019), high Medicaid resident days (71%–73% or higher) in 2019 and 2020, and medium and high managed care resident days were negatively associated with net income margins in both years. Conclusions: Although NH admissions and occupancy rates declined substantially between 2019 and 2020, some (but not all) California NHs had a substantial increase in profit margins in 2020 over 2019. More studies of nursing home financial patterns and profitability are needed to examine trends over time and variations across states. [ABSTRACT FROM AUTHOR]

The study examined the ownership transparency, financial accountability, and quality indicators of a regional for-profit nursing home chain in California, using a case study methodology to analyze data on the chain's ownership and management structure, financial data, staffing levels, deficiencies and complaints, and litigation. Secondary data were obtained from regulatory and cost reports and litigation cases. Qualitative descriptions of ownership and management were presented and quantitative analyses were conducted by comparing financial and quality indicators with other California for-profit chains, for-profit non-chains, and nonprofit nursing home groups in 2011. The chain's complex, interlocking individual and corporate owners and property companies obscured its ownership structure and financial arrangements. Nursing and support services expenditures were lower than nonprofits and administrative costs were higher than for-profit non-chains. The chain's nurse staffing was lower than expected staffing levels; its deficiencies and citations were higher than in nonprofits; and a number of lawsuits resulted in bankruptcy. Profits were hidden in the chain's management fees, lease agreements, interest payments to owners, and purchases from related-party companies. Greater ownership transparency and financial accountability requirements are needed to ensure regulatory oversight and quality of care. [ABSTRACT FROM AUTHOR]

This work examines the importance of foreign markets to Hollywood during the 1930s. The work is empirical in nature and draws upon a financial data set (including foreign revenue streams) of all feature films released by the MGM, RKO and Warner Bros. studios during the decade. The work concludes that the idea that Hollywood garnered its profits from overseas, while meeting production costs at home, is too simplistic. An investigation of the 1790 film budgets found in the data set indicates that the most successful films overseas were big budget films that needed to be highly popular with domestic audiences if they were to be profitable. In developing this analysis, the idea of Hollywood producing films designed specifically for overseas markets is rejected. [ABSTRACT FROM AUTHOR]