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 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 […]
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 […]
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 […]
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 […]
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 […]
More than a year after falling into a court-mandated receivership, 22 senior housing and care facilities previously run by Atrium Health & Senior Living are tentatively set to change hands in a few weeks. North Shore Healthcare on Friday announced that it had reached an agreement to buy the portfolio, which consists of 16 post-acute […]
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 […]
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 […]
Multiple suitors have come knocking at Welltower Inc.’s (NYSE: WELL) door to ask about its recently acquired skilled nursing assets, a top executive said Tuesday, with potential offers that could significantly exceed their most recent sale price. The real estate investment trust (REIT) has no interest in selling off a large chunk of its HCR […]
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 […]
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 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 […]
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 & […]
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 […]
With a little more than a month to go before the final changes to the baseline Medicare and Medicaid requirements for nursing homes take effect, several key questions about complying with the rules remain — prompting at least one group to ask for a formal delay. The third and final updates to the Requirements of […]
Though it’s too soon to tell what effect the new Medicare payment model for nursing homes will have on resident outcomes, the head of a leading industry trade group says operators will deserve everything regulators can dream up if changing treatment patterns lead to worse care. “If we don’t do better, we should be crushed […]
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 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 […]
For one skilled nursing operator in the greater Chicago area, success in the world of accountable care organizations has meant education and proactive collaboration — as well as a willingness to drop out of a partnership with an ACO that didn’t fit into its overall philosophy. “We really look for a partnership in the ACO, […]