PUBLISHED: January 25, 2023
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REIT investment was associated with average relative staffing increases of 2.15 percent and 1.55 percent for licensed practical nurses (LPNs) and certified nursing assistants (CNAs), respectively.

After the three largest REIT deals were excluded, REIT investments were associated with an overall 6.25 percent relative decrease in RN staffing and no changes in LPN and CNA staffing. Larger deals resulted in increases in LPN and CNA staffing, with no changes in RN staffing; smaller deals appeared to replace more expensive and skilled RN staffing with less expensive and skilled staff.

Braun, Robert Tyler, et al. “The Role of Real Estate Investment Trusts in Staffing US Nursing Homes.” Health Affairs, vol. 42, no. 2, Health Affairs (Project Hope), Feb. 2023, pp. 207–16. https://doi.org/10.1377/hlthaff.2022.00278.