Movers & Shakers: New CFOs for Health Dimensions Group, NHI

A pair of companies with presences in the skilled nursing space on Tuesday announced new chief financial officers — with a promotion at a real estate investment trust (REIT) and a retail-industry veteran for a Midwest operator. The board of National Health Investors (NYSE: NHI) promoted John Spaid to the CFO spot effective this past […]

CareTrust to Sell 6 Michigan SNFs for $37M After Operator Stops Paying Rent

CareTrust REIT (Nasdaq: CTRE) on Friday announced a pending $37 million deal to sell six skilled nursing facilities in Michigan after the associated operator indicated its intention to leave the buildings — and also stop paying rent during the transition. The San Clemente, Calif.-based real estate investment trust (REIT) discovered this past quarter that Metron […]

PDPM Therapy Changes, Staff Reductions to Bring Genesis $30M in Annual Savings

Prior to the advent of the new Medicare payment model for skilled nursing facilities, Genesis HealthCare (NYSE: GEN) CEO George Hager predicted that his company would see expense reductions of 12% — primarily through an increased emphasis on group and concurrent services. So far, at least according to Hager, the company has come through on […]

Omega Looks to Cut Daybreak Skilled Nursing Exposure After Performance ‘Deteriorated Further’

Despite showing long-term optimism about Daybreak Venture, executives at Omega Healthcare Investors (NYSE: OHI) on Wednesday revealed an ongoing plan to replace the struggling skilled nursing operator at many of its facilities in Texas. The two parties have mutually agreed to work toward a deal that would “selectively downsize” Daybreak’s footprint across the Lone Star […]

Some States Skeptical of I-SNPs as Long-Term Solutions for Nursing Home Coverage

Special Medicare Advantage plans for long-term nursing home residents have emerged as a significant growth opportunity for operators in the space, but state governments around the country may not necessarily be on board. In fact, states may see Institutional Special Needs Plans (I-SNPs) as directly in opposition to their goal of shifting residents away from […]

Why a Small Operator Took a Chance on Seven Former Dycora Nursing Homes in Receivership

Formed only last year, a small skilled nursing operator with a presence in the South recently made a significant push into Wisconsin, taking over seven properties out of receivership. When Bedrock Healthcare LLC, founded in part by former nursing home administrator Kenny Nichols, assumed operations of the facilities early last month, the move substantially expanded […]

Ensign Reveals Stats Behind Skilled Nursing Turnaround Success, Plots Aggressive Growth for 2020

Despite spinning off a significant chunk of its business lines into a separate company this year, executives at The Ensign Group (Nasdaq: ENSG) are confident that they can continue growing at the same rate as in the past. The San Juan Capistrano, Calif.-based skilled nursing operator again turned in strong quarterly earnings stats, with increased […]

How Has Your Skilled Nursing Company Adapted to PDPM? Take Our Survey Today

Stories of therapist layoffs and shifting care strategies rocked the skilled nursing world at the start of this month, when the new Patient-Driven Payment Model (PDPM) took effect. Now that the industry has logged a full month under the overhauled Medicare payment model, Skilled Nursing News wants to know how your organization has adapted to […]

I-SNP Case Studies Show Promise in Era Where Fee-for-Service Medicare Looks Unsustainable

Despite the challenges, skilled nursing facilities have succeeded at setting up their own specialty Medicare Advantage plans — and the strategy represents a key potential weapon amid the rise of alternative payment models. Institutional Special Needs Plans (I-SNPs) remain a small part of the overall Medicare Advantage landscape, according to a panel discussion at the […]

Less Than 5% of Nursing Homes Receive Abuse Icon — But Financial Impacts Could Be Coming

As the federal government predicted, just under 5% of the nation’s nursing facilities received a new abuse warning icon on the consumer-facing Nursing Home Compare website — but the early data also reveals significant regional variations that could have an impact on valuations and bottom lines moving forward. Out of 15,262 total facilities, just 760 […]

Moody’s Again Downgrades ProMedica, Citing Dropping Medicare Census and Slower ManorCare Upside

Moody’s this week downgraded its rating for non-profit health system ProMedica, citing concerns over the ongoing integration of the HCR ManorCare assets into its umbrella and weakening Medicare census at its nursing facilities. The New York City-based rating agency dropped ProMedica from Baa1 to Baa3, with a negative outlook, the second such slip since the […]

Verma: New Abuse Warning Icon ‘Isn’t Really Going to Impact Very Many Nursing Homes’

Despite widespread anger in the skilled nursing industry, a controversial new warning icon for facilities with previous reports of abuse and neglect will affect only a relatively small proportion of properties, Centers for Medicare & Medicaid Services (CMS) administrator Seema Verma told lawmakers in Washington on Wednesday. Testifying before the House Committee on Energy & […]

‘It’s Not That Easy’: What Skilled Nursing Operators Should Consider Before Launching — or Joining — an I-SNP

On paper, a skilled nursing facility starting its own specialty Medicare Advantage plan sounds like an easy decision: In an era of tight reimbursements, staffing pressures, and length-of-stay declines, why not control the payment source that so frequently vexes them? But according to René Lerer, the calculus for Institutional Special Needs Plans (I-SNPs) just isn’t […]

CMS to Implement Stricter Standards for State Nursing Home Surveyors

The federal government on Thursday rolled out yet another initiative aimed at nursing home safety, announcing a multi-pronged effort to strengthen its oversight of State Survey Agencies (SSAs). The Centers for Medicare & Medicaid Services (CMS) will implement a variety of new assessment tools in the State Performance Standards System (SPSS), its rubric for grading […]

Genesis Continues Real Estate Acquisition Push with 18-Building Joint Venture, Sells 8 More for $89M

Genesis HealthCare (NYSE: GEN) on Wednesday announced the acquisition of an ownership stake in 18 skilled nursing facilities in conjunction with a private investment firm, while also shedding eight more properties in a separate deal worth a total of $89 million. The Kennett Square, Pa.-based post-acute giant has a 30% share of the new entity […]