The federal government on Thursday issued a proposed rule that would extend the Comprehensive Care for Joint Replacement (CJR) bundled-payment model for an additional three years — while also expanding its reach to include outpatient procedures. Initially set to expire on December 31, CJR would remain active through the end of 2023 if the Centers […]
Nursing home operators that have relied on government-backed financing for acquisitions and renovations can begin measuring time in two distinct eras: pre-Rosewood and post-Rosewood. The record-setting default on the Rosewood Care Centers portfolio, publicized in the New York Times, has prompted the Department of Housing and Urban Development (HUD) to take a harder line on […]
Guardian Elder Care, a nursing home operator with more than 50 buildings, will pay $15.5 million to resolve federal accusations of medically inappropriate therapy practices, the Department of Justice announced Wednesday. The Brockway, Pa.-based Guardian faced allegations — brought by a pair of former employees — that the company pressured therapists to perform unnecessary services […]
With all the changes that have swept the skilled nursing industry over the last decade, one of the classic investment models in the space may need to evolve with the times. “I think that the REIT model is dead,” Robert Hartman, founder of Symphony Post Acute Network, said during a Monday panel discussion at the […]
Despite steady reports of increasing reimbursements under the new Medicare payment model for nursing homes, at least one industry leader believes that the federal government will be happy with the early returns — and that any changes are fairly far down the road. Skilled nursing operators have not gone overboard with the strategy changes that […]
Fresh off a successful Series A funding round, a telehealth company that built its platform around serving rural skilled nursing facilities sees growth ahead in urban markets — as well in serving other post-acute providers along the continuum. TapestryCare last week announced the completion of a funding round led by the New York City-based Sopris […]
Data from the first quarter of the new Medicare payment model has been generally positive for skilled nursing operators, but it’s important for players in the space to realize that we’re still in the early innings of a change that could take years to sort out fully. Despite the news of per-day payment bumps under […]
Skilled nursing giant HCR ManorCare outperformed projections in its first full year as a tenant of Welltower Inc. (NYSE: WELL), the real estate investment trust (REIT) announced Thursday, and could soon expand its footprint to include partnerships with health systems outside of its current orbit. “[The] ManorCare portfolio did not hit our expectation; it exceeded […]
The head of the Centers for Medicare & Medicaid Services (CMS) on Wednesday issued a strong defense of a proposed rule that nursing home advocates claim would place up to $50 billion in Medicaid reimbursements in immediate jeopardy, framing the move as a necessary step toward reducing fraud and waste. The Medicaid Fiscal Accountability Regulation […]
Welltower Inc. (NYSE: WELL) on Wednesday announced the pending sale of three skilled nursing facilities operated by HCR ManorCare and ProMedica for $67 million. “The sale of these HCR ManorCare-operated facilities was initiated following an unsolicited offer and is anticipated to close in the first half of 2020,” the Toledo, Ohio-based real estate investment trust […]
A health care staffing startup that had initially focused on the home setting sees significant opportunity to expand into a skilled nursing space still grappling with the implications of a new Medicare payment model — and it recently pulled down a $5 million funding round to help fuel that growth. The Los Angeles-based Gento, formerly […]
MONTICELLOAM, LLC and its affiliates this week announced the completion of a $32 million refinance for a 177-bed skilled nursing facility in Maryland. The New York City-based private real estate lender and asset manager, collectively known as Monticello, also provided a $2 million working capital loan through its asset-based lending arm, Monticello Commercial Capital, LLC. […]
The Trump administration’s proposed fiscal 2021 budget, released Monday, put a price tag on a long-floated plan to unify Medicare reimbursements for post-acute services under a single, site-agnostic system: more than $101 billion over a decade. “The budget prioritizes use of the trust funds to pay for seniors’ healthcare and incentivizes quality and efficiency in […]
After several consecutive months of declines, the nursing home industry actually added jobs in January, the first month of employment growth since the implementation of a new Medicare payment system last October. The nation’s nursing care facilities brought on 2,400 workers in the first month of 2020, according to the regular monthly employment report from […]
Both the skilled nursing and home health spaces are in the midst of shifts to new Medicare payment models, and despite widespread reports of therapy layoffs at nursing homes, a leading player in the home care space says it isn’t necessarily targeting the cohort of available therapists. Encompass Health Corporation (NYSE: EHC) has been monitoring […]
After multiple quarters of struggles with operator Daybreak Venture, Omega Healthcare Investors (NYSE: OHI) on Thursday announced a plan to largely purge the provider’s buildings from its portfolio. “During the course of the next several quarters, Omega anticipates transitioning, either through re-leases or sales, the vast majority of Daybreak’s existing Omega facilities,” chief operating officer […]
A group of 99 U.S. representatives, consisting of both Republicans and Democrats, this week asked the Centers for Medicare & Medicaid Services (CMS) for more information about a rule that could have a major impact on nursing home residents who receive therapy services. Under the 2020 Physician Fee Schedule (PFS) final rule, CMS implemented a […]
The Ensign Group (Nasdaq: ENSG) on Thursday announced that its skilled nursing facilities have seen rate increases of up to 6% under the new Medicare payment model, in part helping to drive the post-acute leader to another set of record earnings. The company’s established same-store facilities achieved those 6% gains, while Ensign’s transitioning facilities — […]
Skilled nursing giant HCR ManorCare has sold a pair of business lines to Grant Avenue Capital, according to an announcement from the private equity firm released earlier this week. The New York City-based Grant Avenue will roll the two entities — Heartland Rehabilitation and MileStone Staffing Services — into a new brand known as H2 […]
Genesis HealthCare (NYSE: GEN) on Tuesday announced a set of deals that will see the skilled nursing giant transfer control of 19 facilities in the West to a regional operator — while also still serving as a provider of back-office support and ancillary services. Under the terms of the $79 million transaction, the Los Angeles-based […]