County Nursing Home Still Losing $2 Million a Year

The red ink keeps oozing out, according to a Daily Herald article by the Daily Herald’s Chuck Keeshan

Finance Committee Chairman Marc Munaretto talks of “good structural changes” since Cary-based Revere Healthcare was hired in October 2007 to managed the Valley Hi nursing home.

But it still lost $183,000 a month.

$2.2 million in 2008.

Revere predicts the facility will never stop bleeding.

Improvement is hard to notice. The Northwest Herald headline below shows a $2 million loss in 2006.

Perhaps last year’s loss is a lower percentage of the nursing home’s budget.

McHenry County Administrator Peter Austin said the loss would have been more without Revere’s management.

The county makes up the difference from a referendum passed tax, which collects $6 million a year.

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