Unlike other businesses that can pass along cost increases to their clients, small family care homes rarely do. Firstly, FCH pay for food costs (which are nearing double-digit inflation rates) and pay workers at the current market prices. However, contracts with residents rarely contain an escalation clause to allow FCHs to pass on these cost increases. Second, if residents' payments are via State waivers, there is little or no chance of recovering these increased costs. FCH owners are left tighten their belts and squeezing what they can from their budgets. Visit our website for 10 ideas on how to financially survive these tough economic times. #inflation #seniorcare #familycaregiver
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