Posts by Alex Spanko:

  • Looking Ahead to the Top Skilled Nursing Trends of 2019

    Dec 17 2018

    We’ve made it to the end of 2018, which will likely go down as one of the most eventful years in the history of the long-term and post-acute care industry. Between the first round of Value-Based Purchasing penalties taking effect and the rapid rollout of the Patient-Driven Payment Model (PDPM), it’s probably a safe bet Read More

  • Greystone’s $24M Deal in the Bronx; SNF-to-Behavioral Conversion in Mass.

    Dec 16 2018

    Greystone Lands Nearly $24M Loan for Bronx Building Lending and advisory firm Greystone originated a $23.9 million loan to refinance the 200-bed Eastchester Rehab & Health Care Center in the Bronx, N.Y. The transaction represents a permanent financing of the property through the Federal Housing Administration, with a 30-year term. Eastchester Realty Associates will use Read More

  • Families Prefer Non-Profit, Non-Chain Nursing Homes with Strong Staffing

    Dec 16 2018

    Families of residents feel better about care in nursing homes if the property has a non-profit owner, features higher than average registered nurse (RN) staffing, and isn’t part of a chain — at least according to the results of a new study that attempts to quantify some of the more qualitative reasons why people choose certain Read More

  • Maine Sees Record Number of Nursing Home Closings as Buyer Interest Plummets

    Dec 13 2018

    Despite having the oldest population of any state, Maine has seen its total number of nursing homes plummet in recent years amid reimbursement and staffing pressures — with 2018 ranking as the worst ever. Six nursing homes closed in the New England state this year, according to a Wednesday report from the Bangor Daily News, Read More

  • Skilled Nursing Occupancy Rose in Third Quarter, Breaking Recent Downward Trend

    Dec 12 2018

    The nation’s skilled nursing facilities saw a slight uptick in occupancy between the second and third quarters of 2018, though census remains well below the previous year’s totals — and analysts stress that it’s not time to celebrate the gain as a Christmas miracle just yet. SNFs were 82.2% full in the third quarter of Read More

  • Centers’ $19M Hospital-to-SNF Conversion Moves Forward; $28M Construction in FL

    Dec 12 2018

    Centers Moves Forward on Hospital Conversion Nearly five years after buying a defunct hospital in Brooklyn, Centers Health Care is nearing completion on a skilled nursing conversion project. Formerly St. Mary’s Hospital, the 280-bed facility in the Crown Heights neighborhood had sat vacant since a 2005 bankruptcy, according to a report on the local news site Read More

  • Marquis Cuts Readmission Rate By 60% with Patient-Tracking Software Pilot

    Dec 11 2018

    In less than six months, a skilled nursing provider in the Pacific Northwest cut hospital readmissions by 60%, and its director of data analytics credits a novel pilot partnership with a growing software provider. Starting in May, the Milwaukie, Ore.-based Marquis Companies rolled out Collective Medical software at three facilities in Oregon; at the time, Read More

  • Western, Southern States Lag Behind Rest of Nation in Nursing Home Usage

    Dec 10 2018

    A new analysis from the Centers for Disease Control and Prevention (CDC) found that large swaths of the Western and Southern states lag far behind the national average for nursing home usage, while the Northeast and the Midwest surged above the pack. In 2016, 24 out of every 1,000 people over the age of 65 Read More

  • Private Equity Must Be Nimble, Innovative to Succeed in Skilled Nursing

    Dec 09 2018

    Tempted by demographic trends and a new reimbursement system, private equity has taken a keen interest in the skilled nursing industry over the past year. But executives at these investment vehicles would be foolish to think they can plug their existing models into nursing home business and expect the same kind of success they may Read More

  • Sabra Inks Deal to Sell 38 Senior Care Centers Buildings for $385 Million

    Dec 06 2018

    Sabra Health Care REIT (Nasdaq: SBRA) on Thursday announced a $385 million deal to sell all 38 buildings in its portfolio operated by troubled skilled nursing provider Senior Care Centers. The deal — which the Irvine, Calif. based real estate investment trust (REIT) had previously announced earlier this year — is expected to close early Read More

  • Growth in Medicare Advantage Spending Far Outpaces Traditional Medicare

    Dec 06 2018

    The growth in overall spending on nursing homes in the United States slowed for the second consecutive year in 2017, according to the latest analysis from the Centers for Medicare & Medicaid Services (CMS) — while Medicare Advantage spending skyrocketed. All payers spent $166.3 billion at nursing care facilities and continuing care retirement communities (CCRCs) Read More

  • LTC Properties: Senior Care Centers Hasn’t Paid Rent for December, New Operator on Deck

    Dec 05 2018

    One day after Senior Care Centers filed for bankruptcy, another one of its landlords reported that the skilled nursing provider has fallen behind on rent. LTC Properties, Inc. (NYSE: LTC) on Wednesday announced that it has not received its December lease payments from the Dallas-based Senior Care Centers, which filed for Chapter 11 bankruptcy protection Read More

  • Trump Cabinet Calls on States to Eliminate Certificate of Need Laws

    Dec 04 2018

    Three prominent members of the Trump administration called on individual states to eliminate Certificate of Need (CON) laws regarding the development of new health care facilities — including nursing homes — characterizing the statues as anti-competitive and detrimental to consumers. Writing in a sweeping, nearly 120-page report on health care reform, the secretaries of the Read More

  • ManorCare, ProMedica Leaders Offer First Look Inside New Skilled Nursing Giant

    Dec 04 2018

    The leaders of the newly merged ProMedica and HCR ManorCare on Tuesday peeled back the curtain on their plans for the future, with a specific focus on using an in-house insurance plan to test ideas for expanded partnerships. Speaking in friendly territory — the stage at new landlord Welltower Inc.’s (NYSE: WELL) investor presentation in Read More

  • OIG Touts Nearly $3B in Medicare, Medicaid Fraud Recoveries in Fiscal 2018

    Dec 03 2018

    The Department of Health and Human Services’ top fraud watchdog recovered nearly $3 billion from providers in fiscal 2018, a figure that included more than $18 million in improper payments at nursing homes. The HHS Office of the Inspector General (OIG) touted its $2.91 billion haul in its most recent semiannual report to Congress, released Read More

  • Genesis Gets Boost from Optimistic Analyst Outlook for Company, SNF Industry

    Dec 02 2018

    Despite losing $58.1 million in the third quarter of 2018, leadership at Genesis Healthcare, Inc. (NYSE: GEN) appeared upbeat during this past earnings season — and last week, they got an early Christmas present that seems to justify their optimism. Financial services company Stifel upgraded its outlook on the Kennett Square, Pa.-based skilled nursing provider Read More

  • Lessons from Medicare Cuts to Skilled Nursing Go Beyond Winners, Losers

    Nov 29 2018

    At face value, the statistics look grim: Nearly three-quarters of the nation’s skilled nursing facilities will see pay cuts in 2019 under the government’s value-based purchasing (VBP) program after failing to reach mandated readmission benchmarks. But the numbers themselves don’t tell the full story, according to players in the long-term health care space. Based on Read More

  • CMS to Cut Medicare Payments for 73% of SNFs Under Value-Based Purchasing

    Nov 28 2018

    Nearly three-quarters of skilled nursing facilities will see Medicare reimbursement penalties after failing to hit certain readmission improvement benchmarks, according to a new set of data from the Centers for Medicare & Medicaid Services (CMS) Of the just under 15,000 facilities that reported sufficient data, 73% — or nearly 11,000 buildings — had incentive payment Read More

  • Speech Therapy Poised to Take Center Stage in Skilled Nursing Under PDPM

    Nov 28 2018

    Among the potential upsides and pitfalls under the new Medicare payment system for skilled nursing facilities, one specialty comes up consistently as an area of great opportunity: speech therapy. When the new Patient-Driven Payment Model (PDPM) takes effect next October, speech therapy will play a greater role in a resident’s overall care plan than under Read More

  • Senior Living Non-Profits Charged 3.3% More for Skilled Nursing in 2018

    Nov 27 2018

    The cost of care at non-profit senior living facilities rose the most for skilled nursing residents in 2018, according to a new survey, but operators are still feeling the pain across all levels of care. The Chicago-based specialty investment bank Ziegler found that fees for skilled nursing services at non-profits rose 3.3% in 2018, based Read More

  • CMS Trumpets Telehealth Potential in Skilled Nursing and Long-Term Care

    Nov 27 2018

    The Centers for Medicare & Medicaid Services (CMS) issued yet another sign of support for expanding the use of telehealth services in skilled nursing facilities, pointing to a variety of studies that show the technology can save the government money. Writing in a mandated report to Congress released earlier this month, CMS highlighted multiple areas Read More

  • Long-Term Optimism Boosting Skilled Bed Prices Despite Low Occupancy

    Nov 25 2018

    Investment in skilled nursing facilities hasn’t slowed down despite persistent dark clouds surrounding the industry’s outlook. One of the overarching themes this past conference season — including at the summits held by the American Health Care Association (AHCA) and the National Investment Center for Seniors Housing & Care (NIC) — is that there’s an ongoing Read More

  • Editor’s Take: Intriguing Operators Prove That Innovation Doesn’t Have to Be Flashy

    Nov 20 2018

    If there’s been one common theme in my nearly two years covering skilled nursing and long-term health care, it’s the idea that the industry is a silver bullet or two away from success. Maybe it’ll take the form of the silver tsunami, whenever the wave of baby boomers eventually begins requiring intensive institutional care. Maybe Read More

  • CMS to Use Provider Fines to Develop Nursing Home Safety Resources

    Nov 20 2018

    The Centers for Medicare & Medicaid Services (CMS) on Tuesday announced an initiative to divert some of the money it collects in provider fines to fund general nursing home improvement initiatives. The three-year Civil Money Penalty Reinvestment Program (CMPRP) will use a portion of nursing home penalty cash to pay for the development of toolkits Read More

  • Poor Transfers Confuse Residents, Could Cost Skilled Nursing Facilities Money

    Nov 18 2018

    Attend any industry conference, and you’ll likely hear multiple panels discuss the importance of care coordination: In an era of managed Medicare, accountable care organizations (ACOs), and value-based purchasing, players along the acute and post-acute care continuum have a financial incentive to seamlessly transition residents from hospital to nursing facility to home. But on the Read More

  • CMS Touts $1B Decline in Improper Skilled Nursing Payments in 2018

    Nov 16 2018

    The federal government slashed improper payments to skilled nursing facilities by a little more than $1 billion in fiscal 2018, but regulators aren’t declaring victory yet. The Centers for Medicare & Medicaid Services (CMS) on Friday reported a Medicare fee-for-service improper payment rate of 6.55% in fiscal 2018 for SNFs, down from 9.33% during the Read More

  • Avamere Aims to Create Post-Acute Network with New Corporate Structure

    Nov 14 2018

    A major provider of senior housing and care services across the acuity spectrum on Wednesday announced an internal reorganization, with the eventual goal of evolving into a post-acute care network for its residents. The Avamere Family of Companies moved to consolidate its separate entities — senior housing and skilled nursing operator Avamere Living, therapy provider Read More

  • Five Star Must Make Changes to Survive After Losing $50.4M in ’18

    Nov 14 2018

    Five Star Senior Living (Nasdaq: FVE) raised concerns Wednesday about its ongoing viability after reporting losses of $50.4 million so far in 2018. “Five Star faces challenges that are currently negatively impacting its revenues, expenses, cash flows and results from operations, and Five Star expects these challenges to continue at least through 2019,” the Newton, Read More

  • KeyBank Lends $36M for Four Properties; Former ManorCare SNF Sells for $5.8M

    Nov 13 2018

    KeyBank Secures $36.3M in Ohio for Foundations  KeyBank Real Estate Capital financed Foundations Health Solutions’ $36.3 million acquisition of four skilled nursing facilities in Ohio, the lender announced earlier this week. The 442-bed portfolio is spread across the Buckeye State, with the properties built between 1961 and 1984. KeyBank funded the deal through the Federal Read More

  • PDPM Will Dominate in 2019, But It’s Only One Piece of the Puzzle

    Nov 12 2018

    Providers have a scant 11 months to prepare for the tectonic shift of the Patient-Driven Payment Model, but that’s only one of the regulatory and economic pressures they’ll face in 2019. New requirements of participation, the local politics of Medicaid, and staffing shortages will continue to plague the skilled nursing industry over the coming 12 Read More

  • New Medicare Advantage Telehealth Rules Signal Growing Skilled Nursing Opportunity

    Nov 11 2018

    New guidelines that could open up telehealth coverage under Medicare Advantage represent a serious opportunity for the industry, according to multiple technology providers — especially as the moves signal growing support for remote care from key federal officials. Under a proposed rule released late last month, the Centers for Medicare & Medicaid Services (CMS) would Read More

  • New York Officials Call for Greater Scrutiny in Non-Profit Nursing Home Sales

    Nov 08 2018

    Smaller non-profit nursing home operators have found themselves even less able to weather the industry storms than their for-profit counterparts, with many exploring sales to larger, regional chains — a trend that has attracted the scrutiny of government officials in the state of New York. The state’s Charities Bureau this month released new guidance governing Read More

  • Barriers Between Financial, Clinical Staff Must Come Down Under PDPM

    Nov 07 2018

    Providers’ early reviews of the new Patient-Driven Payment Model (PDPM) have been largely positive, but operators also only have around 11 months to develop the kinds of internal protocols necessary to maximize reimbursements — and success could hinge on getting various players within a single facility to agree with each other. In Leah Killian-Smith’s experience Read More

  • Sabra CEO: Senior Care Centers Stopped Paying Rent for Leverage Amid Sale

    Nov 06 2018

    Sabra Health Care REIT (Nasdaq: SBRA) dropped the news late Monday that its largest operator, Senior Care Centers, had stopped paying rent — and on Tuesday, its CEO framed the issue as an attempt to force the company’s hand amid a pending sale. The Irvine, Calif.-based real estate investment trust (REIT) had already entered into Read More

  • Sabra Terminates Leases on 36 Senior Care Centers SNFs, Sale Pending

    Nov 05 2018

    Sabra Health Care REIT, Inc. (Nasdaq: SBRA) announced on Monday that its portfolio of Senior Care Centers buildings hasn’t generated straight-line rents since May, resulting in a $1.9 million shortfall in the company’s third-quarter income. The Irvine, Calif.-based real estate investment trust (REIT) issued notices of default and lease termination during the third quarter, the Read More

  • Five-Star Ratings Don’t Tell Consumers, Investors About Skilled Nursing Safety

    Nov 05 2018

    Consumers and investors may rely on the five-star rating system for nursing homes to make key decisions, but a new study suggests that there isn’t much difference in resident safety between buildings along the scale. “Our results reveal that Nursing Home Compare, a policy initiative aimed at improving quality and empowering consumers to make better Read More

  • Senators Blast Nursing Home Operators, CMS Over Emergency Prep Rules

    Nov 04 2018

    Members of a prominent Senate committee on Friday released a scathing report on emergency preparedness in the nation’s nursing homes, accusing both operators and the federal government of failing residents during storms and other disasters. Compiled by the Democratic members of the Senate Committee on Finance, the report — titled “Sheltering in Danger” — specifically Read More

  • Ensign Sees 25.7% Gain in Skilled Nursing Income, Announces Three More Acquisitions

    Nov 01 2018

    The Ensign Group (Nasdaq: ENSG) turned in yet another positive quarter, seeing occupancy gains throughout its skilled nursing portfolio and planning future growth — but with an eye toward selectivity. The Mission Viejo, Calif.-based operator logged skilled occupancy of 77.3% in the third quarter of 2018, an increase of 165 basis points over the previous Read More

  • IntelyCare Raises $10.8M to Expand Skilled Nursing Staffing Platform

    Nov 01 2018

    A staffing software provider aimed at long-term care operators on Thursday announced an injection of $10.8 million in additional funding as it attempts to expand beyond its current four-state footprint. The Quincy, Mass.-based IntelyCare raised the funds in a Series A round led by Leerink Revelation Partners, along with Longmeadow Capital, LRV Health, and former Read More

  • ‘Granny Cams’ Represent Legal Minefield for Skilled Nursing Operators

    Oct 31 2018

    For families of nursing facility residents, being able to remotely monitor their loved ones can bring peace of mind during a difficult period. But for skilled nursing operators, families installing cameras in sensitive areas can open the door to a variety of legal problems — including the violation of federal wiretapping laws. Only 11 states Read More

  • Welltower Optimistic on ManorCare-ProMedica Deal, Pushes Back on Downgrade Concerns

    Oct 30 2018

    The headlines in the immediate wake of the blockbuster $4.4 billion ProMedica-HCR ManorCare deal haven’t been positive, but executives from Welltower Inc. (NYSE: WELL) on Tuesday were upbeat about the progress so far — even if they didn’t dig too far into the details. Welltower chief investment officer Shankh Mitra said the real estate investment Read More

  • US News Rolls Out New Nursing Facility Rankings with Short-Term Focus

    Oct 30 2018

    A leading national publication on Tuesday rolled out a new set of nursing home rankings, with a particular focus on how the nation’s providers stack up on short-term rehabilitation stays. U.S. News & World Report has produced its Best Nursing Homes list since 2009, offering an alternative to the Centers for Medicare & Medicaid Services’ Read More

  • CareTrust, Eduro Pick Up Another ManorCare SNF; 5-Building Deal in Ohio

    Oct 29 2018

    CareTrust Buys Another ManorCare Building for $4.75M CareTrust REIT (Nasdaq: CTRE) on Monday announced the purchase of The Meadows on University, a skilled nursing facility in Fargo, N.D. formerly owned by HCR ManorCare. The 110-bed SNF sold for $4.75 million, including transaction costs, and marked the second installment of a two-part deal between the real Read More

  • Maryland Provider Reaches $2M Settlement Over False Discharge Claims

    Oct 28 2018

    An extended battle between a now-defunct nursing home operator and the state of Maryland reached a conclusion this week with a $2.2 million settlement. Neiswanger Management Services (NMS) agreed to pay that amount to dismiss allegations that it had improperly discharged Medicare residents and falsely billed the state’s Medicaid program, Maryland Medical Assistance. Back in Read More

  • CMS Moves to Expand Telehealth Coverage Under Medicare Advantage

    Oct 26 2018

    The Centers for Medicare & Medicaid Services on Friday unveiled a proposal that the agency says will expand telehealth coverage to enrollees in Medicare Advantage plans. Under the proposed rule, which would take effect in calendar year 2020, Medicare Advantage plans could cover telehealth services for both rural and urban enrollees, as well as in-home Read More

  • 2019 Will Be ‘Year to Watch’ for Medicaid as Long-Term Care Drives Spending

    Oct 25 2018

    Increases in long-term care costs contributed to an overall boost in Medicaid spending during fiscal 2018, and a leading health policy non-profit warns that 2019 could be a pivotal year for the program. “FY 2019 will be a year to watch how Medicaid’s role evolves on the ground in the 50 states and D.C.,” the Read More

  • Crunching the PDPM Numbers to Avoid ‘Catastrophic’ Skilled Nursing Pitfalls

    Oct 24 2018

    With less than a year to go before the Patient-Driven Payment Model takes effect, skilled nursing providers must move beyond the planning stages and get into the facility-level details that will make or break them under the new model. On a webinar hosted by Skilled Nursing News and software provider Optima Healthcare Solutions last week, Read More

  • CMS Releases New Quality Benchmark Data for Skilled Nursing Facilities

    Oct 24 2018

    Skilled nursing providers now have a new public set of nationwide quality benchmarks to see how their facilities stack up. The Centers for Medicare & Medicaid Services (CMS) on Wednesday publicly released its Quality Reporting Program (QRP) data for skilled nursing facilities, listing five key measures derived from both assessments and claims. Available on the Read More

  • Top Tips for Skilled Nursing Providers to Win Under the New CMS Rules

    Oct 23 2018

    The Patient-Driven Payment Model (PDPM) has gobbled up most of the recent headlines in the skilled nursing industry regarding new regulations, but there’s another set of rules that providers shouldn’t forget about. The industry remains in the thick of the new Requirements of Participation, which the Centers for Medicare & Medicaid Services (CMS) will finish Read More

  • Rehab Labor Costs Grow Least for Institutional Long-Term Care Providers

    Oct 23 2018

    Staffing costs remain a top concern for skilled nursing providers, and a new report shows that salary growth for key rehabilitation employees in the long-term care space has lagged slightly behind other care settings. In general, long-term care providers reported slower pay increases for the 12 months ended June 2018, according to the latest rehab Read More

  • Hurricanes Grab Headlines, But Staffing and Congress Represent Bigger Skilled Nursing Risks

    Oct 22 2018

    Investors frequently point to “headline risk” as a reason to beware the skilled nursing space, typically referring to the kinds of negative press that arise due to natural disasters and lapses in care for vulnerable seniors. But a top executive at the nation’s largest skilled nursing real estate investment trust (REIT) says the prolonged staffing Read More

  • Medicaid Overpays Nursing Homes by $1B Per Year, Study Suggests

    Oct 22 2018

    Nursing home providers typically operate on razor-thin margins, but a new study suggests that the Medicaid program may be overpaying operators by billions of dollars per year. A pair of economists from the University of California, Los Angeles and the University of Georgia this month published an extensive analysis of Medicaid spending in nursing homes, Read More

  • Leaders Hint at Occupancy, Bed Price Mismatch in Skilled Nursing Amid Speculation

    Oct 21 2018

    Over the last half-decade, there have been two consistent and opposing trends in the skilled nursing world: Occupancy keeps declining as seniors find other options for long-term care, but bed prices have kept steadily chugging upwards. And while there are solid reasons for those seemingly counterintuitive threads, there are questions in the operational and investment Read More

  • Study Targets For-Profit Nursing Homes Over Higher Risk of Neglect

    Oct 21 2018

    New research from the University of Illinois at Chicago suggests that residents in for-profit nursing homes have the highest risk of receiving neglect-related diagnoses, and its authors claim the industry needs stronger oversight across all facility types. The team, led by Lee Friedman of UIC’s School of Public Health, looked at the records of about Read More

  • Omega CEO: Skilled Nursing Headwinds Will Die Down in Three Years

    Oct 18 2018

    Fresh off a major restructuring effort with key tenant Signature HealthCARE, the CEO of Omega Healthcare Investors (NYSE: OHI) had a decidedly sunny outlook for the skilled nursing industry’s short-term future — as well as Signature’s. “We’ll look three years out,” Taylor Pickett said of his company’s restructuring strategy during a panel discussion at the Read More

  • Skilled Nursing Leaders Share Winning Hiring, Retention Strategies

    Oct 16 2018

    The workforce crisis in skilled nursing can often seem like a problem without an immediate solution: There are only so many qualified workers in any given area, and with unemployment at record lows, competition for competent candidates hasn’t been this fierce in a generation. Plus, with reimbursement and regulatory pressures, skilled nursing operators often don’t Read More

  • Buyer: Two-SNF Deal for Under $10M Shows Declining Bed Prices in Certain Metros

    Oct 16 2018

    Cascade Capital Group snapped up a pair of skilled nursing facilities in the Chicago metropolitan area for less than $10 million — a deal that its leaders say indicates a downward per-bed pricing trend both locally and nationally. With 230 beds, the portfolio — consisting of Avantara of Elgin in Elgin, Ill. and The Grove Read More

  • Backer of $1 Billion Skilled Nursing Joint Venture Says Time is Right for Investment

    Oct 15 2018

    Senior Care Development and Fundamental Advisors made a major skilled nursing play earlier this month with the announcement of a $1 billion joint venture aimed at nursing home acquisitions. It’s a move that may have raised some eyebrows, given the general unease about the long-term care space among investors, but the CEO of Senior Care Read More

  • Avamere Pivots Away from Skilled Nursing with New Senior Living Brand

    Oct 15 2018

    The Avamere Family of Companies on Monday announced plans to take its skilled nursing-free retirement communities national, marking another milestone in the senior housing space’s growing skepticism of long-term health care. The Wilsonville, Ore.-based operator and developer of senior housing and care properties rolled out its Ovation by Avamere subsidiary with groundbreaking ceremonies in St. Read More

  • Secrets to Success at the Top SNF in the Country for Rehospitalization Rate

    Oct 14 2018

    A privately operated skilled nursing facility for veterans in Utah ranked number one in the country* for rehospitalization rates — a feat its administrator ascribes to both smart staffing and a prime location. The Southern Utah Veterans Home tied for the number-one spot in a recent ranking of all 15,421 nursing homes in the United Read More

  • Inside One Ailing Skilled Nursing Facility’s Finances — And the Strategy to Fix Them

    Oct 12 2018

    Faced with a potential closure due to declining revenues, one hospital-based skilled nursing facility enlisted the help of third-party advisory firms to diagnose its problems — and suggest a few novel solutions. Back in July, the Sonoma Valley Hospital (SVH) in Sonoma, Calif. released a report indicating that its 27-bed SNF unit would lose about Read More

  • Greystone’s $15M Loan for Two Buildings; 50-Facility Texas Operator Grows

    Oct 11 2018

    Greystone Closes $15M Bridge Loan for Two SNFs Real estate lending and advisory firm Greystone arranged $15 million in bridge funds to finance the purchase of two skilled nursing facilities in Youngstown, Ohio, the company announced Thursday. The Beeghly Oaks Center for Rehab and Healing and Oasis Center for Rehab and Healing changed hands with Read More

  • Private Investment, Demographics Driving Skilled Nursing Deals Despite Stress

    Oct 10 2018

    Private investors continue to drive interest in the skilled nursing industry despite knowing full well the pressures that operators face, according to a new analysis from real estate brokerage and advisory firm Marcus & Millichap. Over the last year, nursing homes have accounted for about half of the deal volume in the senior living space Read More

  • Medicaid Cuts, Regulatory Reform Loom Over Skilled Nursing Ahead of Elections

    Oct 09 2018

    The skilled nursing industry dodged a bullet in 2017 when comprehensive Medicaid reform failed, but key industry leaders warn that the outcome of the fall elections could revive the $800 billion threat to SNFs’ bottom lines. Should Republicans hold onto their control of Congress in the upcoming midterms, leaders may take another run at Medicaid Read More

  • Bundled Payments Cost Medicare Nearly $300 Million

    Oct 09 2018

    A new report on the Bundled Payments for Care Improvement (BPCI) program found that the initiative has actually resulted in Medicare losses, counter to its aims. Under BPCI, providers agree to split a set reimbursement amount for a patient’s single episode of care, with the overall goal of reducing costs across the spectrum. But in Read More

  • AHCA Teams with PHI, Launches Long-Term Care Workforce Center

    Oct 08 2018

    Two of the biggest names in long-term care advocacy have teamed up to create a new online workforce center aimed at curbing persistent staffing pressures at skilled nursing and senior housing facilities. The American Health Care Association (AHCA), in conjunction with the Paraprofessional Healthcare Institute (PHI), on Monday launched the Workforce Resource Center, a website Read More

  • Even Top Providers Face Financial Peril as Median Skilled Nursing Margin Falls to Zero

    Oct 08 2018

    The financial pressures sweeping the skilled nursing space haven’t discriminated between the best- and worst-performing operators in the business, according to a new report from CliftonLarsonAllen — with the median operating margin dropping to zero across the industry in 2017. That’s a 60-basis-point drop from the previous year, the accounting and consulting firm reported in Read More

  • Providers Increased High-Intensity Therapy for Skilled Nursing Patients Near Death

    Oct 07 2018

    As the skilled nursing industry prepares for a shift away from therapy as a primary reimbursement driver, a new study raises questions about the use of high-intensity therapy minutes at the end of residents’ lives. Between 2012 and 2016, ultra-high rehabilitation services provided to nursing home residents in their final month of life spiked 65%, Read More

  • Reliant’s $88M Portfolio Play; $28M HUD Loan for Illinois Facility

    Oct 07 2018

    Reliant Named as Seller, Operator in $88M Griffin Deal Affiliates of Reliant Care Management Group sold a portfolio of eight skilled nursing facilities in Missouri to Griffin-American Healthcare REIT IV, Inc., and will stay on as operators going forward. Griffin-American first announced the $88.2 million deal in June, with the deal closing during the first week Read More

  • Skilled Nursing Providers Can Still Break Into Narrow Networks

    Oct 04 2018

    Skilled nursing providers frequently fret about the rise of narrow networks — the closed-off groups of high-performing nursing homes that hospitals have developed to ensure the best quality and reimbursement outcomes for their patients. But even the narrowest preferred skilled nursing networks have gaps that smart providers can fill, as long as they know where Read More

  • Welltower, ProMedica to Slash Rent on Former ManorCare Skilled Nursing Facilities

    Oct 04 2018

    The former HCR ManorCare skilled nursing facilities received a major rent break under their new ownership structure. HCP Properties, the 80-20 joint venture between Welltower Inc. (NYSE: WELL) and non-profit hospital provider ProMedica, will charge $179 million for the first year of its 15-year lease with the 168 skilled nursing facilities and 58 senior living Read More

  • Preventing Hospitalizations Doesn’t Affect Patient Outcomes — At a Financial Price

    Oct 02 2018

    As the Centers for Medicare & Medicaid Services continues to crack down on preventable hospitalizations, skilled nursing providers have a keen financial interest in keeping residents out of the acute setting. Now a new study finds that retaining residents at the skilled nursing facility has no bearing on their mortality rates — with an expensive Read More

  • Welltower Touts ManorCare Deal, Hospital Partnerships as ProMedica Plots $1.4B Debt Offering

    Oct 02 2018

    Welltower Inc. (NYSE: WELL) this week released an upbeat report on its acquisition of skilled nursing giant HCR ManorCare — just a few days after its joint-venture partner revealed plans for a $1.45 billion debt offering to help recoup the costs of the mega-deal. The Toledo, Ohio-based Welltower positioned its major investment in ManorCare as Read More

  • Fundamental, Senior Care Development to Form $1 Billion Skilled Nursing Joint Venture

    Oct 01 2018

    Alternative asset management firm Fundamental Advisors LP on Monday announced the formation of a skilled nursing-focused joint venture, with an eventual goal of snapping up $1 billion in skilled nursing assets. The other half of the billion-dollar partnership will be Senior Care Development, a developer with a historic focus on continuing care retirement communities (CCRCs) Read More

  • Diversicare, Omega Agree to New Master Lease on 34 Skilled Nursing Facilities

    Oct 01 2018

    Diversicare Healthcare Services (Nasdaq: DVCR) on Monday announced a new lease deal with landlord Omega Healthcare Investors (NYSE: OHI), which will see 34 skilled nursing facilities consolidated under a single agreement. The Brentwood, Tenn.-based skilled nursing provider previously had 23 facilities — scattered across Texas, Kentucky, Alabama, Florida, Ohio, and Tennessee — under one lease Read More

  • Skilled Nursing Operators Top List of Best Places to Work in Aging

    Sep 27 2018

    In a long-term health care era plagued by staffing concerns and tough headlines about nursing homes, a pair of skilled nursing facilities topped a new list of the best workplaces in aging services. Gurwin Jewish Nursing & Rehabilitation Center in Commack, N.Y. and Van Dyk Health Care in Hawthorne, N.J. came in first and second Read More

  • Discharges to Skilled Nursing Remain Steady, But Home Health Gains Ground

    Sep 26 2018

    Hospitals continue to discharge a fairly consistent share of their patients to skilled nursing facilities, but home health has seen a spike in admissions amid a shifting reimbursement landscape and changing consumer preferences. Acute-care hospitals released 22% of their patients into skilled nursing facilities during the first quarter of 2018, according to data released Wednesday Read More

  • False Advertising Case Against Nursing Homes Gains New Life

    Sep 26 2018

    A court last year threw out a case that accused a group of Pennsylvania nursing homes of false advertising, but the state’s highest court this week ruled that the legal action can proceed. Skilled nursing operator Golden Gate National Senior Care, LLC and its affiliates can indeed face legal trouble over advertisements that promised specific Read More

  • Skilled Nursing Providers Have One Shot at Payment Success Under PDPM

    Sep 25 2018

    Of all the changes coming to the skilled nursing industry when a new payment model takes effect next fall, the most pressing may be one of the most basic: Starting in October 2019, providers will have a single opportunity to set themselves up for financial success with a patient’s initial assessment. The Patient-Driven Payment Model, Read More

  • Invesque Sees Bright Skilled Nursing Future Even as it Diversifies $1.4B Portfolio

    Sep 25 2018

    Since going public two years ago, Invesque Inc. (TSX: HLP.U) — the former Mainstreet Health Investments — had steadily moved to diversify away from the skilled nursing assets that had previously dominated its portfolio. But that doesn’t mean that CEO Scott White has a bearish outlook on institutional care going forward. “Definitively, there is a Read More

  • Study Finds Quality Gains in Skilled Nursing Facilities Come at a Price

    Sep 24 2018

    The federal government has taken major steps over the last decade to reduce spending while also improving resident care, but a recent study finds that achieving the goal might not be so easy. A team of researchers led by Kathleen Carey of the Boston University School of Public Health found that quality gains at Veterans Read More

  • Savings Success in ACOs Takes Time, and Risk Might Not Matter

    Sep 23 2018

    Accountable care organizations (ACOs) need time to work out their growing pains before producing savings for the government, according to a new study from a top health care consulting firm — and a major assumption about risk might not actually be true. ACOs active for four years or longer accounted for just about all of Read More

  • South Florida Shuffle: Welltower Sells Building for $15.4M, Two-SNF Portfolio Nets $24 Million

    Sep 23 2018

    Welltower Offloads Broward County SNF for $15.4M Welltower Inc. (NYSE: WELL) recently sold the Heartland of Tamarac skilled nursing facility for $15.4 million, the South Florida Business Journal reported. The real estate investment trust offloaded the building to 5901 Tamarac LLC, a company associated with Millennium Management of Miami, according to the publication. The facility Read More

  • White Oak’s $33M Skilled Nursing Refinance; State Takeover in Kansas

    Sep 20 2018

    White Oak Lands $33M Refinance for Granite Group White Oak Healthcare Finance this week announced the funding of a $33.2 million senior credit facility for Granite Investment Group; in turn, Granite used the funds to refinance a four-building skilled nursing portfolio in Texas. A subsidiary of White Oak Global Advisors, the health care finance firm Read More

  • New York Official Calls for Tougher Skilled Nursing Facility Inspections

    Sep 20 2018

    A top official accused the New York State Department of Health of performing insufficient inspections of nursing home equipment, recommending more in-depth surveys in the future. Health officials only look at very small samples of medical and generator equipment when performing inspections, according to a report issued this week by the office of New York comptroller Read More

  • Skilled Nursing’s Future Rests on ‘Marriage’ Between Financial, Medical Data

    Sep 19 2018

    It may be slightly early to make a definitive declaration, but the rise of data could be the single most prominent trend in skilled nursing for 2018. From new payment models to preferred provider networks to consumer outreach, the importance of data has been a recurring theme at conferences and on earnings calls for the Read More

  • Assisted Living Construction Has Negative Impact on Skilled Nursing Facilities’ Finances

    Sep 18 2018

    Assisted living facilities have increasingly represented a viable alternative to skilled nursing for many older consumers, and a recent study found that the rise of lower-acuity senior housing has a direct impact on SNFs’ profit margins. The addition of every 10 assisted living beds — per 1,000 residents over the age of 65 in a Read More

  • When Hospitals Build Skilled Nursing Networks, How Narrow is Too Narrow?

    Sep 17 2018

    Skilled nursing providers have faced pressure to break into area hospitals’ top-tier referral groups — the increasingly select few deemed fit to manage acute care operators’ patient populations across the continuum. But when SNFs size up their competitors in their marketplaces, are they facing off for a slot in a hospital’s top five, or top Read More

  • Sabra, LTC: Skilled Nursing Market Has Hit ‘Trough,’ Slow Occupancy Growth Ahead

    Sep 16 2018

    Multiple players across the skilled nursing industry have offered predictions as to when slumping occupancy figures will bottom out, and two prominent voices earlier this month declared that the bottom may be upon us. “I think we’re probably at around the trough,” Sabra Health Care REIT (Nasdaq: SBRA) chief investment officer Talya Nevo-Hacohen said during Read More

  • CMS Waives Certain Skilled Nursing Rules in Wake of Hurricane Florence

    Sep 14 2018

    Hurricane Florence prompted skilled nursing evacuations throughout the Eastern seaboard, and the Centers for Medicare & Medicaid Services (CMS) this week issued a series of emergency orders to alleviate the pressure on operators and beneficiaries as they weather the storm. Administrator Seema Verma formally waived the three-day hospital stay requirement for Medicare skilled nursing coverage Read More

  • Centers Pays $1.6M Over Alleged Managed Medicaid Fraud in New York

    Sep 13 2018

    An affiliate of skilled nursing provider Centers Health Care paid a $1.65 million settlement to the New York State and federal governments over allegations that its managed Medicaid plan falsely billed for services. The Centers Plan for Healthy Living LLC submitted monthly state Medicaid claims of up to $4,300 per member for services that it Read More

  • Skilled Nursing Occupancy Falls to New Low in Second Quarter

    Sep 12 2018

    The skilled nursing industry set another record low in occupancy during the second quarter of 2018. Skilled nursing facilities were 81.7% full during the quarter, according to the most recent set of data from the National Investment Center for Seniors Housing & Care (NIC), down 79 basis points from the first quarter and 137 basis Read More

  • SNN Interview: Congressman Wants to Find Balance Between Regulations, Operator Autonomy

    Sep 11 2018

    Last week, two leaders of the powerful House Ways and Means Committee — chairman Kevin Brady and health subcommittee chairman Peter Roskam — called on the Centers for Medicare & Medicaid Services (CMS) to slash red tape for skilled nursing and other long-term care providers. “There is a real opportunity to get red tape out Read More

  • CareTrust Grows in Silicon Valley; SLIB Arranges Three Skilled Nursing Deals

    Sep 10 2018

    CareTrust Picks Up Former Non-Profit CareTrust REIT (Nasdaq: CTRE) last week announced the purchase of the Villas at Saratoga, a senior living community with 85 skilled nursing beds and 37 assisted living units in Saratoga, Calif. — a city to the southwest of San Jose. CareTrust will invest about $19 million in the property, including Read More

  • Skilled Nursing Continues to Drag on CCRCs’ Future

    Sep 09 2018

    A major financial ratings service released an overall stable outlook for the continuing care retirement community (CCRC) market over the coming year, but expressed nagging doubts about the effects of skilled nursing on the industry’s overall health. For the sixth consecutive year, Fitch Ratings issued a “stable” credit rating projection for the CCRC sector, which Read More

  • Federal Lawmakers Grill CMS, HHS Over Nursing Home Safety

    Sep 06 2018

    Representatives from the federal agencies that oversee skilled nursing agencies faced pointed questions from lawmakers on Capitol Hill on Thursday morning, with many expressing frustration with recurring resident safety issues. “We do this over and over again, but yet one-third of Medicare residents have experienced harm,” Rep. Diana DeGette, a Colorado Democrat, said during a Read More

  • Congressmen Ask CMS to Ease Red Tape for Skilled Nursing Facilities

    Sep 05 2018

    Two leaders of the powerful House Ways and Means Committee this week asked the Centers for Medicare & Medicaid Services (CMS) to ease regulatory burdens on skilled nursing facilities. In multiple letters to CMS administrator Seema Verma, Rep. Kevin Brady and Rep. Peter Roskam called for reduced compliance burdens for post-acute care providers, hospitals, and Read More

  • 15% of Skilled Nursing Assistants Live in Poverty Amid Stagnant Wages

    Sep 04 2018

    Skilled nursing and seniors housing executives have blamed wage pressures in part for their struggles in recent years, but a new analysis finds that nursing assistants haven’t seen their wages increase in a decade. The median nursing assistant brought in $12.78 per hour in 2007, compared to an inflation-adjusted $12.84 a full 10 years later, Read More

  • Has the Skilled Nursing Industry Finally Hit Bottom?

    Sep 03 2018

    As summer ends, it’s tempting to start looking ahead to what 2019 will hold for the skilled nursing industry. While the widely praised new payment model will likely grab the most attention, next year could also signal an upward climb out of an industry valley, or more troubled times ahead — depending on who you Read More

  • Replacing Long-Term Care Hospitals with Skilled Nursing Could Save Medicare $4.6B

    Sep 03 2018

    New research takes aim at the long-term care hospital (LTCH), suggesting that the federal government could save billions if it paid those providers the same way as skilled nursing facilities — or just replaced them with SNFs altogether. “We find that most LTCH patients would have counterfactually received care at skilled nursing facilities … and Read More

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