LTC Properties (NYSE: LTC) this week announced a $33 million portfolio acquisition that included a $13.5 million skilled nursing facility in Texas. The Westlake Village, Calif.-based real estate investment trust (REIT) purchased a 140-bed skilled nursing center in Longview, Texas, operated by HMG Healthcare of The Woodlands, Texas. HMG has a 10-year, triple-net lease on […]
The federal government on Thursday announced a major shake-up to its consumer-facing database of skilled nursing facility quality information, revealing plans to merge Nursing Home Compare into a more comprehensive website that features data about care sites across the continuum. Sometime later this year, the Centers for Medicare & Medicaid Services (CMS) will combine all […]
National skilled nursing giant Genesis HealthCare (NYSE: GEN) continued its drive to bring more outside operators into its accountable care organization (ACO) this week, announcing a new accord with Senior Living Properties. Under the terms of the deal, the Fort Worth, Texas-based Senior Living Properties will see some of its buildings — along with select […]
The operator of an ambulance company that primarily served nursing homes and other outpatient care sites has been sentenced to 30 months in federal prison after pleading guilty to defrauding Medicare and Medicaid. Joseph Valdie Kimble, the former operator of the Longview, Texas-based Tiger EMS, must also pay more than $750,000 in restitution to the […]
Just about every major policy change, no matter how well intentioned, has butterfly effects that no one can foresee — along with changes that, while foreseen, still can cause real harm to real people. The news of therapy layoffs and hour reductions that swept through the skilled nursing world earlier last year fell into the […]
Though the early days of 2020 have brought some optimism around the state of the post-acute and long-term care industry, executives in the space continue to emphasize that the coming 12 months could bring make-or-break decisions for operators and their partners. One day after American Health Care Association (AHCA) CEO Mark Parkinson told SNN that […]
Despite helming a presentation that highlighted his company’s move away from health care companies that rely on government reimbursements, Welltower Inc. (NYSE: WELL) CEO Tom DeRosa this week asserted the firm’s longstanding commitment to post-acute care. “This is a business that we have never abandoned, even in the dark days of that sector, and reimbursement […]
Early analyses of the new Medicare payment model for nursing homes indicate that operators may be pulling in more money than the federal government intended — leading to widespread speculation that adjustments could be coming sometime in 2020. American Health Care Association (AHCA) president and CEO Mark Parkinson agrees with the idea that the Patient-Driven […]
Greystone on Tuesday announced its role in the $71.3 million refinance of Massapequa Center Rehabilitation and Nursing, a 320 bed skilled nursing facility in Massapequa, N.Y., on Long Island. The Department of Housing and Urban Development (HUD)-backed loan replaces bridge financing originated in the fall of 2017 for the acquisition of the facility, which offers […]
Welltower Inc. (NYSE: WELL) on Monday continued its recent push to partner with major health systems, announcing a joint venture with the non-profit Jefferson Health. A hospital heavyweight in the Philadelphia metro area, Jefferson — affiliated with Thomas Jefferson University — will begin providing clinical care at Welltower’s senior housing, assisted living, and memory care […]
Among the many early takeaways from the new Patient-Driven Payment Model (PDPM), perhaps the most immediate was its effect on rank-and-file therapists who work at skilled nursing facilities. Almost instantly after the PDPM shift on October 1, Skilled Nursing News received a flurry of e-mails from therapists who were laid off or saw their hours […]
The first two months after the implementation of a new Medicare payment model for nursing homes saw slight employment drops in the space, but the trend accelerated as the year came to a close — with the losses nearly quadrupling in December. The national nursing home industry shed 6,700 jobs in December, according to the […]
Ignite Medical Resorts, an Illinois-based operator of post-acute care facilities, continued its expansion push this week in a new partnership with Sabra Health Care REIT (Nasdaq: SBRA). Ignite formally took over management of three Sabra-owned properties in Oklahoma City, Bartlesville, and Norman, Okla. on New Year’s Day, the provider announced Thursday. The previous operator, Vision […]
The Ensign Group (Nasdaq: ENSG) picked up where it left off in 2019 with a single skilled nursing and assisted living facility acquisition in San Antonio, Texas. The San Juan Capistrano, Calif.-based nursing facility giant on Tuesday announced the purchase of The Healthcare Center at Patriot Heights, a combined facility with 59 skilled nursing beds […]
Paramount Health Care, the managed Medicaid arm of major health system and skilled nursing operator ProMedica, this week announced a move to substantially scale back its footprint in the wake of serious financial losses for the plan. The Toledo, Ohio-based Paramount will exit the central and southeast regions of Ohio, cutting its overall enrollment by […]
The federal government on Monday announced the appointment of Brad Smith, a health care and insurance industry veteran, as the next head of the Center for Medicare & Medicaid Innovation (CMMI). Smith, previously the chief operating officer at insurance giant Anthem’s diversified business group, will additionally serve as senior advisor for value-based transformation to Department […]
The new year is barely a few days old, but leaders across the post-acute and long-term health care space have already predicted an active — and potentially distress-filled — 2020. As the industry adapts to a new Medicare payment model, the pressures that have bogged operators down over the last few years will continue, from […]
Standard and Poor’s lowered its outlook for non-profit health system ProMedica, but analysts see sunnier days ahead for its HCR ManorCare skilled nursing assets. S&P Global Ratings on Christmas Eve affirmed its BBB long-term rating for ProMedica’s debt obligations, while also lowering its outlook on the Toledo, Ohio-based health giant from “stable” to “negative.” Following […]
In the lead-up to the new year, Skilled Nursing News took a look back at the top stories of 2019, and made our best predictions about the trends that will shape — and potentially rock — the post-acute and long-term care space in 2020. For these first business days of 2020, we decided to let […]
A nursing home owner whose request to take over a pair of facilities was denied has struck back with a lawsuit, claiming that the authorities didn’t provide sufficient justification for their decision. Christopher Brogdon, an Atlanta-based owner of long-term care facilities, claims that Arkansas health officials made an “arbitrary and capricious” decision when they blocked […]