The federal government has opened its coffers of COVID-19 relief funds to the operators of facilities that changed hands in the months leading up to the coronavirus pandemic, but the window to strike is small. In the name of expediency, the Department of Health and Human Services (HHS) rushed out relief dollars to health care […]
The federal government on Monday introduced a proposed rule that would, if finalized, make permanent at least some of the emergency telehealth flexibilities implemented during the ongoing COVID-19 crisis, while potentially allowing a greater frequency of remote nursing home interventions. President Trump on Monday signed an executive order requiring the Department of Health and Human […]
Through their work with consulting firm Copernicus Inc., CEO Claudia Blumenstock and consultant Ellen Bartoldus have heard countless firsthand stories of the strains that COVID-19 has put on nursing home staff across the country. And as former nursing home administrators themselves, the pair has a clear vision for how to fix the endemic problems that […]
An executive associated with a portfolio of nursing facilities that saw a record-setting federal loan default has been indicted on a single count of equity skimming, the Department of Justice announced late last week. Mark Yampol of St. Louis faces up to five years in prison if convicted, according to the DOJ. A federal grand […]
Pharmaceutical giant Eli Lilly and Company (NYSE: LLY) will soon begin a phase-three clinical trial of a potential coronavirus treatment in the long-term care setting, with nursing home operator Symphony Care Network as a partner. Up to 2,400 residents and staff of nursing homes and assisted living properties will participate in the on-site study, the […]
The federal government on Friday finalized a previously proposed rule that will bring a 2.2% Medicare payment bump to the nation’s skilled nursing facilities. Under the Centers for Medicare & Medicaid Services’ (CMS) 2021 payment rule, facilities will see a total increase of $750 million in Medicare reimbursements over the next fiscal year, which begins […]
Occupancy at LTC Properties’ (NYSE: LTC) skilled nursing facilities slid from 80% at the end of March to 71% by mid-July, but the impact on operators’ ability to pay rent without deferrals has so far been minimal, leaders at the real estate investment trust (REIT) disclosed Friday. Those occupancy figures represent voluntarily submitted data covering […]
The federal government is in the midst of an aggressive plan to send point-of-care coronavirus tests to all of the nation’s more than 15,400 nursing homes — but individual state rules may prevent facilities from taking advantage of the program. “Due to the lower sensitivity and specificity of these test devices, not all state public […]
Amedisys Inc. (Nasdaq: AMED) has already logged an uptick in diversions from skilled nursing facilities as the COVID-19 pandemic rages on, and leaders at the home health giant see even more opportunity ahead with a more expansive SNF-at-home model. “We have not seen a material recovery in elective procedures, yet we have seen a significant […]
More than half of the states in the country have rising COVID-19 case counts in nursing facilities, according to new same-store data compiled by the National Investment Center for Seniors Housing & Care (NIC). Utah led the way with an increase of 0.70 confirmed cases per nursing facility during the week of July 5 through […]
As more workers who require routine COVID-19 testing return to in-person settings, the strain on the private insurance system could cause premiums to spike and force workers off coverage altogether, a new analysis in the journal Health Affairs determined. Both the federal government and states have mandated varying levels of testing frequency for nursing home […]
Widespread outbreaks of COVID-19 at skilled nursing facilities have increased calls to accelerate the shift to in-home care whenever possible, but one major home health provider took things a step further by floating the potential for replacing SNF care with stays at inpatient rehabilitation facilities (IRFs). Speaking on the company’s second-quarter earnings call this week, […]
As the major publicly traded players in post-acute and long-term care prepare to reveal another set of post-COVID results over the coming weeks, Sabra Health Care REIT (Nasdaq: SBRA) CEO Rick Matros remains confident that the government’s response to COVID-19 has averted severe financial strains for its tenants — at least for now. The Irvine, […]
Berkadia this week announced the completion of about $50 million in financing for skilled nursing facilities in four separate deals across the country. First up, the real estate investment firm’s Seniors Housing & Healthcare Group provided a $22.2 million loan — backed by the Department of Housing and Urban Development (HUD) — for a 157-bed […]
Developing new post-acute and long-term care infrastructure during normal times isn’t always easy — in fact, for one Illinois company, the phased opening of three new skilled nursing facilities this year represented the culmination of more than five years of work. But as COVID-19 continues to reveal the fatal shortcomings of outdated nursing home design, […]
In terms of total deals completed, long-term care operators led a health care mergers-and-acquisitions market devastated by COVID-19 — but that volume came with a significant drop in value. The long-term care space saw 158 completed transactions in the first half of 2020, according to a new report from accounting and consulting firm PwC, the […]
COVID-19 has prompted the media and general public to consider the state of the standard nursing home more closely than ever, and many national outlets have turned to the Green House model as the prime example of the way forward. These “small-house” style developments eschew the traditional institutional nursing home structure for multiple cottages with […]
Skilled nursing operators and associated providers received about $165 million in small loans under a federal program designed to keep businesses afloat during the pandemic, an analysis of public data by Skilled Nursing News has found. In turn, those 3,300 loans — all under $150,000 apiece — helped operators in the space preserve a total […]
The federal government on Wednesday revealed more details about the prioritization of nursing homes that will receive point-of-care testing kits for COVID-19 under an ambitious new plan, with 600 set to be sent this week. In addition to targeting facilities with at least three or more confirmed or suspected cases in the last week, as […]
In perhaps the starkest illustration yet of the need for routine testing in long-term care, a new analysis reveals how one nursing home went from zero suspected cases to an 85% positive rate in four days. A team of researchers looked at the isolated case of a single facility in Massachusetts, which the state government […]