Long-term care facilities and nursing homes have been financially strained by the ongoing COVID-19 pandemic, a survey by the American Health Care Association and National Center for Assisted Living released this week found. 

Many facilities and homes were already facing financial headwinds prior to the start of the pandemic. But the quick spread of COVID-19, the thousands of deaths of nursing home residents and a lack of adequate funding have made for a toxic combination. 

The survey found two-thirds of nursing home providers will not be able to go forward another year at their current operating pace

The vast majority of nursing homes, 90%, are operating at a profit margin of 3% or less. And 65% of nursing homes are operating at a loss. 

More than half of assisted living facilities, meanwhile, will also likely be unable to operate at the current pace for another year and 86% are turning lower profit margins. Meanwhile, 55% are operating at a loss. 

A federal government program, using pharmacies as a pass-through, set out to vaccinate nursing home residents and staff over the last month. In New York, that process is due to be completed by next week.