Financial Stability Success Strategies for Nursing Homes

Ineffective regulatory strategies can lead to reduced financial stability. Nursing home leaders who wrestle to improve regulatory practices may find their business facing reduced financial sustainability. Grounded in management by objectives theory, the purpose of this qualitative pragmatic inquiry research project was to identify and explore the effective strategies nursing home leaders used to implement regulatory compliance practices that increase financial sustainability. The participants were nine nursing home leaders who had successfully implemented regulatory compliance strategies within their organizations. Data was collected through semistructured interviews, public websites, and current and archival public documents. Through thematic analysis, three themes were identified: (a) development of knowledgeable staff, (b) developing communication with staff and residents, and (c) promoting innovation for continuous quality improvement. A key recommendation is for nursing home leaders to prioritize understanding costs associated with increased health care regulations. The implications for positive social change include the potential for nursing home leaders to improve the quality of patient care and create employment opportunities to promote community prosperity and financial sustainability within the nursing home industry in the United States.