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Thursday, November 21, 2024

Woodland Oaks, a for-profit facility, had a rating of 3 in Q4 2023

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CMS Administrator Chiquita Brooks-LaSure | Wikipedia

CMS Administrator Chiquita Brooks-LaSure | Wikipedia

As of the fourth quarter of 2023, Woodland Oaks was owned by seven stakeholders, according to Centers for Medicare and Medicaid Services (CMS).

Current Woodland Oaks owners are listed in the table below.

Woodland Oaks is registered as a for-profit facility.

During that period, the nursing home had an overall rating of three from the CMS, which is higher than the average of 2.7 recorded for nursing homes in Kentucky. CMS ratings evaluate nursing homes based on critical aspects such as health inspection outcomes, staffing levels, and the quality of care provided to residents.

According to the data, Woodland Oaks aided an average of 107.9 residents per day during the fourth quarter of 2023, with a total of 110 beds available. Currently, the nursing home is not located within a hospital.

As of the fourth quarter of 2023, Woodland Oaks spent a total of $3,250 in one fine and suffered one penalty.

In total, there were two for-profit nursing homes in Boyd County, Kentucky.

According to US Census data, in 2020, nearly 1 in 6 Americans were aged 65 years or older. Since 1920, the older population skyrocketed from 4.9 million to 55.8 million, reflecting a growth rate of roughly 1,000%, five times higher than the average growth for the overall U.S. population.

A 2021 study suggests that nearly half of this age group, roughly 28 million individuals, may require long-term services and support. Additionally, the study projects that over a third of them may eventually need nursing home care.

“Living a long life is something that many of us want and could get,” said Jesse Slome, executive director of the American Association for Long-Term Care Insurance, an insurance education group. “But when we live a long life, the chances of us needing long-term care increase exponentially. But when you need that type of care, there are limited options.”

Nursing Homes in Boyd County as of Q4 2023

Nursing HomeOwnerOwnership TypeOverall RatingAvg. No. of Residents per day
Boyd Nursing and RehabilitationBoyd Nursing and Rehabilitation Holdings, LLCFor profit - Limited Liability company155.1
Kingsbrook Lifecare CenterAshland Hospital CorporationNon profit - Corporation3129.2
Woodland OaksJoshua Farkovits, Eli Grinspan, Kennedy KY Holdings, LLC, Kentucky Partners, LLC, KY Equity Partners, LLC, Benjamin Landa, and Philpson Family Limited Liability Company, LLCFor profit - Corporation3107.9

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