The Department of Housing and Urban Development’s (HUD) lending program for skilled nursing facilities grabbed some negative headlines earlier this year, but a key financial player in the space says that demand for the products remains strong — though the government has placed increasing focus on star ratings and care quality when underwriting deals. “The […]
The Securities and Exchange Commission (SEC) this week filed a lawsuit against the Chicago-area businessman at the center of a record-setting nursing home loan default, accusing the man and his company of defrauding investors and misappropriating funds. The SEC alleged that Zvi Feiner, a nursing home owner and Orthodox rabbi, raised money from various investors […]
As payers and hospital networks increasingly treat skilled nursing facilities as just one stop along an overall episode of care, operators in the space have received a variety of messages about how to survive: Bring data, get to know referral partners’ problems, demonstrate your worth. But a leader at a major Philadelphia-area hospital network took […]
Despite a quarter-over-quarter drop, national occupancy at skilled nursing facilities inched upward in the second quarter of 2019 as compared to last year, even as Medicare Advantage revenues took a slight tumble. The nation’s nursing homes sat at 83.3% full during the second quarter of the year, up 0.5% from the same period last year, […]
Siena Lending Group earlier this month launched a health care finance practice that its leaders say will have a significant focus on the skilled nursing industry. The asset-based lender established Siena Healthcare Finance to serve a variety of players in the space, including hospitals, home health agencies, hospice companies, and institutional pharmacies. But given the […]
The federal government this week announced a settlement with a regional skilled nursing chain that officials accused of discriminating against residents with opioid use disorder. Athena Health Care Systems will adopt a non-discrimination policy regarding patients dealing with opioid addiction, develop training programs, and pay a $10,000 civil penalty to the government as part of […]
With capital chasing upside and new development dominated by high-end “medical resorts,” the availability of long-term care beds has emerged as a big-picture issue for the skilled nursing industry. While it may not be a nationwide problem just yet, certain markets — from Wisconsin to California — have begun to show the early signs of […]
With just two weeks to go before the new payment model for nursing homes takes effect, operators that have prepared for the changes could be expecting a significant boost in their Medicare reimbursements. But providers shouldn’t necessarily expect their investors to share in their optimism over the Patient-Driven Payment Model (PDPM). Over the course of […]
A top official in Massachusetts called on the state’s health department to improve its nursing home investigation efforts after an audit revealed significant delays in processing inspections of potentially deficient properties. The Massachusetts Department of Public Health’s investigative unit failed to conduct on-site inspections of nursing homes within the mandated 10-day timeframe in 148 of […]
Formation Capital remains a heavyweight in the private investment space for senior housing and care, but its CEO says that its skilled nursing tastes have become more opportunistic as capital continues to aggressively chase available properties. The Atlanta-based Formation this past spring sold off a 12-property skilled nursing portfolio in Virginia and Pennsylvania, and CEO […]
In-house Medicare Advantage plans have emerged as a hot trend in the skilled nursing space, as operators look for ways to take control over their reimbursement destiny — and a new study shows that the model could have real benefits for both patients and Medicare at large. Members enrolled in insurance giant UnitedHealthcare’s Institutional Special […]
As the post-acute and long-term health care industry struggles through shortened lengths of stay and compressed reimbursements, an oasis has lingered just beyond the horizon: the so-called silver tsunami. If operators can wait out the current downturn, the thinking goes, the glut of baby boomers turning 80 and older over the coming years will be […]
Symphony Post Acute Network expanded its footprint into the Michigan market this week with the acquisition of Caretel Inns of Brighton and Caretel Inns of Lakeland, a pair of skilled nursing and assisted living facilities. Located in Brighton and St. Joseph, Mich., respectively, the facilities blend high-end post-acute care with assisted living units, according to […]
A ballot initiative that would overhaul the way Massachusetts’s Medicaid program pays for nursing home services last week moved one step closer to reaching voters. The office of state attorney general Maura Healey certified a nursing home reimbursement proposal among other potential ballot questions for Bay State voters to consider in 2020, local NPR station […]
When the man at the center of a record-setting nursing home fraud case faces a sentencing hearing this week, he’ll also be staring down a nearly $39 million recovery judgment. The federal government has asked a judge to approve a plan that would force Philip Esformes, convicted earlier this year on 20 fraud-related counts, to […]
Officials at the University of Kansas Health System recently found themselves facing a familiar issue for hospital groups: To bolster their post-acute presence, and reduce costly readmissions, should they partner with an external operator or do it themselves? Each option comes with its own pros and cons. Some major health systems have gone all in […]
Diversicare Healthcare Services (OTCQX: DVCR) this week announced the successful completion of a 10-building transfer that saw the skilled nursing operator exit the Kentucky market entirely. The handoff was completed on August 30, according to a release from the Brentwood, Tenn.-based provider. Diversicare had previously announced its intention to leave the Bluegrass State back in […]
The federal government on Thursday finalized a rule that will expand its power to remove potentially unscrupulous health care providers from Medicare and Medicaid eligibility. Under the new final rule, the Centers for Medicare & Medicaid Services (CMS) can kick providers out of the programs if they have a previous affiliation with a banned organization, […]
The past several years have seen sweeping overhauls of nursing home enforcement on the federal level, and the Medicare program’s top clinical officer says her agency isn’t done beefing up its efforts. Dr. Kate Goodrich, the chief medical officer for the Centers for Medicare & Medicaid Services (CMS), promised that more changes are coming to […]
Welltower Inc. (NYSE: WELL) on Wednesday announced the promotion of Tim McHugh to the position of chief financial officer — as well as the departure of former CFO John Goodey. McHugh had previously held the title of senior vice president, corporate finance at the Toledo, Ohio-based real estate investment trust (REIT), and will continue to […]
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