Home Health Business Quarterly
Assisted Living Update
Ergonomics standard announced
In November, the Occupational Safety and Health Administration issued its final ergonomics standard. The standard will cover "general industry" employers and takes effect Jan. 16, 2001. It requires all employers to provide employees with specific information about musculoskeletal disorders (MSDs) and to evaluate whether reported MSD incidents meet "action triggers."
If more than two MSDs have been reported in the preceding 18 months or the incident cannot be resolved in 90 days, the employer is required to develop and implement a full ergonomics program for the job involved.The Assisted Living Federation of America continues to actively oppose the regulation.
Senior services firm reports loss
Diversified Senior Services Inc. (DSS) in Winston-Salem, NC, which creates affordable community living alternatives for seniors with fixed incomes, reported third-quarter losses of $155,737 or 4 cents per share on revenues of $1.5 million compared with earnings of $67,051 or 2 cents per share on revenues of $1.3 million in 1999’s third quarter. In the first nine months of 2000, the company lost $22,556 or 1 cent per share on revenues of $4.6 million, compared with earnings of $324,469 or 10 cents per share on revenues of $4.1 million in 1999. The losses were expected, according to the manager of housing for the elderly, as DSS completes its transition from a development-based to a management-based company. Management income in the first nine months was about $845,000, compared with about $653,000 in the same 1999 period.
Greenbriar announces increases
Greenbriar Corp. (GBR) in Addison, TX, which operates assisted and full-service independent living communities, reported a 20% increase in operating income for the third quarter and a 31% increase in operating income for the nine-month period ending Sept. 30, 2000 (exclusive of noncash write-offs of impaired assets totaling $7.5 million).
With four fewer operating units, the company’s revenues for the quarter decreased to $10.3 million, compared with $10.4 million in 1999. Revenues for the nine-month period increased to $31 million, compared with $30.9 million for the same period in 1999.
Marriott names preferred provider
Omnicare Inc. of Covington, KY, a geriatric pharmaceutical care company, has been named national preferred provider of pharmacy services for most Marriott Senior Living communities across the country, for about 15,000 residents.