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Friday, May 3, 2024

Who owned Cornerstone Rehabilitation and HC in Q4 2023?

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CMS Chief of Stuff Erin Richardson | cms.gov/about-cms/leadership/chief-operating-officer

CMS Chief of Stuff Erin Richardson | cms.gov/about-cms/leadership/chief-operating-officer

As of the fourth quarter of 2023, Cornerstone Rehabilitation and HC was owned by Mark Petersen, according to Centers for Medicare and Medicaid Services (CMS). The nursing home, located in Peoria County, has been owned by Mark Petersen since Feb. 1, 2013.

Cornerstone Rehabilitation and HC is registered as a for-profit facility.

During that period, the nursing home had an overall rating of one from the CMS, which is lagging behind the average of 2.6 recorded for nursing homes in Illinois. CMS ratings evaluate nursing homes based on critical aspects such as health inspection outcomes, staffing levels, and the quality of care provided to residents.

According to the data, Cornerstone Rehabilitation and HC aided an average of 51.3 residents per day during the fourth quarter of 2023, with a total of 94 beds available. Currently, the nursing home is not located within a hospital.

As of the fourth quarter of 2023, Cornerstone Rehabilitation and HC spent a total of $6,500 in one fine and suffered one penalty.

In total, there were seven for-profit nursing homes in Peoria County, Illinois.

According to US Census data, in 2020, nearly 1 in 6 Americans were aged 65 years or older. Since 1920, the older population skyrocketed from 4.9 million to 55.8 million, reflecting a growth rate of roughly 1,000%, five times higher than the average growth for the overall U.S. population.

A 2021 study suggests that nearly half of this age group, roughly 28 million individuals, may require long-term services and support. Additionally, the study projects that over a third of them may eventually need nursing home care.

“Living a long life is something that many of us want and could get,” said Jesse Slome, executive director of the American Association for Long-Term Care Insurance, an insurance education group. “But when we live a long life, the chances of us needing long-term care increase exponentially. But when you need that type of care, there are limited options.”

Nursing Homes in Peoria County as of Q4 2023

Nursing HomeOwnerOwnership TypeOverall RatingAvg. No. of Residents per day
Accolade Healthcare of PeoriaShmuel Freedman and Moshe FreedmanFor profit - Individual3109.2
Aperion Care Peoria HeightsShira Meystel IRRV Trustee Uad 1-1-21, Yosef Meystel Declaration of Trustee of Yosef Meystel Ttee, and David a Berkowitz Rvoc Trustee David Berkowitz TteeFor profit - Limited Liability company185.7
Apostolic Christian SkylinesApostolic Christian Church of PeoriaNon profit - Church related559.7
Cornerstone Rehabilitation and HCMark PetersenFor profit - Limited Liability company151.3
Sharon Health Care ELMSStanton Aron, Gary Weintraub, Richard Duros, Elisa Shlofrock-Zusman, and John ShlofrockFor profit - Corporation174.8
The Loft Rehabilitation of PeoriaNH Operator Holdings VII, LLCNon profit - Corporation191.4

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