Occupancy is still increasing month to month, but at a slower pace compared to earlier this year, according to a new data analysis from the data service affiliated with the National Investment Center for Seniors Housing & Care (NIC).
From April to May the NIC MAP Vision report found occupancy rose 23 basis points to rest at 73.4% — that’s 211 basis points higher than January, the year’s low point. By comparison, February 2020 occupancy was 85.5% pre-pandemic.
The slowing upward trend still provides “cautious optimism,” the report stated, in the face of delta variant spread, a more contagious strain of COVID-19 and the uncertainty surrounding the federal government’s Provider Relief Fund (PRF).
“The question remains as to how fast the industry can increase occupancy to a sustainable point,” researchers stated in the report.
Medicare revenue per patient day (RPPD) decreased slightly from April to May, ending at $559; NIC reported a decrease of 2.4% since June of last year, when there was support from the federal government for Medicare fee-for-service (FFS) reimbursements related to COVID-19 positive patients.
Managed Medicare revenue mix remained steady between April and May at 10.8%, NIC said, while noting a decline if one takes into account data since February, where revenue hit a high of 11.2% thanks to a growth in elective surgeries from last year.
Much like Medicare, Medicaid RPPD decreased by $2 from April to May, ending the month at $241. Interestingly, Medicaid RPPD is higher than pre-pandemic levels — $233 as of February 2020 — as states hiked reimbursement for COVID-19 cases.
Even with the increase, some states still struggle with adequate coverage of COVID patient care, according to the analysis.
Report data represents 28 SNF contributors across 47 states as of May (there were 48 states represented in April). Participating properties dropped from 1,391 to 1,364 between the two months, NIC said.
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