Nursing home occupancy has increased for the third month in a row, according to a new analysis from the data service affiliated with the National Investment Center for Seniors Housing & Care (NIC).
From March to April, the NICMAP Vision report recorded a jump of 94 basis points to end at 73.2% for April; that’s an increase of 185 basis points since January, a low point for the industry sitting at 71.3% for that month.
The promising data breeds optimism in the industry that the trend will continue through the rest of the year as vaccinations continue and elective surgeries increase, in turn increasing admissions to SNFs.
Occupancy levels still aren’t what they were pre-pandemic, however; cash flow is a concern at some properties too, the report said.
In February 2020, occupancy was sitting at 85.5%.
Medicare revenue mix decreased from March to April by 41 basis points to 21.1%, suggesting fewer patients have converted from Medicaid to Medicare as COVID-19 cases decline, NIC added.
This trend proved helpful when COVID cases were spiking and CMS waived the three-day stay rule, the report said. A patient would normally be required to stay in the hospital for three days before Medicare would cover their subsequent rehab time at a skilled nursing facility.
Managed Medicare revenue mix experienced a 30 basis-point decrease from March to April, reportedly 10.8% at the end of April.
For much the same reasons as Medicare’s decrease (three-day stay waiver and lower patient days overall due to reduced admissions), Medicaid revenue mix increased 85 basis points to end at 50% in April. Medicaid days, or the number of days a patient is eligible for benefits under Medicaid, will increase as occupancy increases into this year, NIC said.
The NIC MAP Vision report represents 48 states — the number of contributors and SNF properties decreased from March to April, 29 to 28 and 1,474 to 1,391, respectively.
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