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COVID-19 has caused an extreme decline in the number of residents of nursing homes. I investigate the causes of this decline and estimate the effect of different sources that may be associated with this decline in the state of Ohio. Specifically, I analyze how payer-mix is associated with a decline in occupancy due to healthcare policy changes during the pandemic and the suspension of surgeries in March of 2020. I use linear regression to estimate the impacts that the presence of a COVID-19 case and Medicare dependency had on the decline in number of residents. I show that the presence of a COVID-19 case is the primary driver of a decline in occupancy, but a high Medicare dependency also contributes to the decline. These results have implications in the analysis of the impact the pandemic has had on occupancy in nursing homes in Ohio and the U.S., and implications for future questions on financial impacts of the pandemic and the future of the nursing home industry after the COVID-19 pandemic.