FOR IMMEDIATE RELEASE Wednesday, February 27, 2013

Albany County Nursing Home Losing $1,000,000 a Month Two Million dollar loss already in 2013 2% Property Tax Tap May Never Be Reached
Albany County has lost $117 million dollars in the last ten years operating the Albany County Nursing Home. As a direct result of these losses, county taxpayers have had to bear the burden. While the numbers wont be final for a few more months, its estimated the county lost another $12.4 million last year, said Albany County Executive Daniel P. McCoy. The county is looking at another $2 million dollar loss already for 2013. This is unacceptable, avoidable and will continue to get worse unless the legislature takes action to approve the proposed lease agreement with Upstate Services Group. Adding to the worsening financial picture is a change in the Medicaid reimbursement rate. While it costs the county approximately $400 per day per patient, Medicaid only reimburses the county $184.86 per day. That means the county is losing over $200 per patient per day. It is important to note that the nursing home accepts all patients regardless of their ability to pay. Over 70% of our patients are on Medicaid. The County Executive has scheduled the first of several public hearings on March 7th at 4 p.m. in the Cahill Room at 112 State Street to get public comment on the proposed lease agreement. The lease will enable us to accomplish three things: protect our vulnerable seniors, protect the taxpayers and save the county over $100 million over the next decade, said McCoy. I strongly urge the legislature to consider facts and act quickly to approve the agreement with USG. If we dont find a solution to the nursing home, Albany County may never meet the 2% property tax cap. For the latest information on the future of the Albany County Nursing Home, visit http://www.albanycounty.com/executive/exec-acnh.asp

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