Transcript Generated by AI 00:00 Hi, Mark Parkinson here with Park Place and 00:04 another segment of Parkview. 00:06 And we want to again thank Capital Funding Group for sponsoring the Parkview 00:11 segments. 00:11 Capital Funding is a fantastic HUD lender and if you need financing, 00:14 they would be a great group for you to talk with. 00:17 In my last segment, I talked about how well things are going, 00:21 how because of the demographics, we're finally going to see incredible 00:25 demand for our buildings and how there aren't a whole lot of buildings going up 00:29 and buildings are closing. 00:30 And you add it all up and it should be a pretty darn good time for census. 00:34 And I think that'll last for 3/5, seven years. 00:38 We we're, we're in a really good spot right now. 00:41 So I think the question that all, you know, 00:44 we got to ask ourselves is what could go wrong, what, 00:47 what could mess this whole thing up. 00:49 And I think there are two big things that we need to worry about. 00:54 The first thing that we need to spend some time worrying about is what happens 00:57 to the government just runs out of money. 01:00 As you know, virtually all of our reimbursement is 01:03 paid for by either the federal or state governments. 01:07 And if they run out of money, we got a real problem. 01:09 And that is something that could actually happen. 01:13 The federal government, of course, can print an unlimited amount of money, 01:16 and they're good at doing that. 01:17 They do it all the time. 01:19 But you do have to ask yourself, is there an end point to this? 01:24 Now, people have been saying there's an end 01:26 point for a long time. 01:28 I mean, I remember 30 years ago people were 01:30 saying, oh, we have so much that at the federal level, 01:32 it's all going to fall apart. 01:33 And people said at 25 and 20 and 15 and five years ago, I mean, 01:37 people have been talking about this forever. 01:40 And there appears to be an insatiable demand for the bonds as we keep keep 01:44 pretty money, people keep buying our bonds and keeping 01:46 it going. 01:47 But you do have to wonder at some point, is there a price to pay in the States? 01:54 They can't print unlimited money. 01:56 They have to balance their budget and so on. 01:58 Even this year we see states with major budget deficits. 02:03 So one risk that we definitely face is a lack of money. 02:08 We'll have tons and tons of customers, but the question will be how do we pay 02:13 for it? 02:14 Well, there's not a lot that we can do about 02:17 the revenues of the federal or state governments, 02:19 but there are things that we can do to position ourselves so that as they run 02:23 out of money, if they do, we're better positioned. 02:26 And what that is all about is our lobbying and political campaigns. 02:31 In order to succeed, because we're reimbursed and regulated by 02:35 federal and state governments, we have to stay involved on the political 02:40 and lobbying side. 02:41 We have to be united, we have to be strong and we have to lobby. 02:45 And that's why providers coming together with both the National Association and 02:50 the state associations are so critical. 02:53 The only defense that we have to declining revenues is strong political 02:59 activity. 03:00 But as we've shown over the years, when we are strong, even in tough times, 03:04 we can get funded. 03:06 The second thing that could go wrong is US. 03:11 I believe that one of the biggest risks that the factors sector faces are bad 03:15 providers. 03:16 People that aren't doing a good job in buildings on a consistent basis and they 03:21 have terrible outcomes and you know, make the headlines of newspapers and draw 03:26 the attention of public officials are an enormous risk to all of us. 03:31 Unfortunately, we aren't judged by the actions of our 03:35 best providers, we are judged by the actions of the worst 03:39 providers. 03:40 And so it is critical that we lift up everyone. 03:44 We need everybody that's out there in the sector to provide quality care and if 03:48 they aren't interested in quality care, they shouldn't be involved in this. 03:52 Now, how do we get rid of bad providers? 03:55 Very, very difficult question. 03:57 Some states have looked at the change of ownership process, 04:00 but that gets complicated and often times entails even people that are good 04:04 providers. 04:06 Other states have looked at significant value based purchasing add-ons to 04:11 Medicaid rates and that might be the answer. 04:13 The only way you get enough money to make money and enough money to actually make 04:18 it work is if you're a quality provider. 04:21 I'm not going to sit here and tell you that I know what the answer is, 04:25 but I do know that collectively we really have to address the issue of what do we 04:29 do with bad providers. 04:31 If we can overcome these things that we can all commit to quality care, 04:35 if we can stay united and stay politically strong, 04:37 these two big problems that are out there, I think that we can overcome them. 04:42 Thanks again to Capital Funding for sponsoring this segment, 04:45 and thank you for watching Park Place.
