The federal government on Friday issued a formal delay of its reporting requirements for health care providers that received COVID-19 financial relief. The Department of Health and Human Services (HHS) had originally set January 15 as the opening date for its Provider Relief Fund reporting portal, with the first deadline set a month later on […]
Vaccinating the nation’s nursing home residents is taking longer than many have anticipated, and the family members of those in long-term care settings are certainly forgiven for being impatient: Locked away from their loved ones for months on end, residents and their families see a desperately needed light at the end of the tunnel as […]
The COVID-19 pandemic has rightfully prompted lawmakers at the state and federal level to reconsider the way government payers incentivize or discourage the use of nursing homes relative to other options, such as home- and community-based services (HCBS). But one prominent long-term care researcher this week warned against looking at the reform equation as a […]
As currently constructed, bed counts form the bedrock of nursing home finances. More beds mean more chances for reimbursement, more ways to fill a need for a hospital partner, more opportunities to offset fixed expenses. But more beds also mean a greater risk for COVID-19 infection, more logistical challenges for cohorting and staff separation, and […]
Net Health, a Pittsburgh-based health care software provider, on Tuesday announced its acquisition of skilled nursing data firm PointRight. PointRight — which provides data analytics services to about 2,400 long-term and post-acute care providers, along with hospitals, accountable care organizations, and landlords — will help to enlarge Net Health’s growing footprint in the skilled nursing […]
The Chicago-based Cambridge Realty Capital announced a host of skilled nursing deal closings completed during the fourth quarter of 2020, bringing the lender’s total to $415 million for the year. The largest of those transactions involved $16.9 million for Manor Court* of Peru, Ill., a campus with 94 skilled beds, 68 assisted living units, and […]
Just as predicted before the rollout began, vaccine hesitancy among nursing home workers stands as a serious barrier to widespread acceptance in long-term care — and, in turn, fully fostering group immunity among the most vulnerable. Battered by COVID-19 and unwilling to trust the institutions that oversaw the deaths of their patients and colleagues, a […]
If there’s been one recurring theme for SNN’s annual executive outlook, it’s the idea that putting 2020 to bed represents a chance to reset and move on past the worst year in the history of the post-acute and long-term space, both in the United States and around the world. But that can only happen if […]
BMO Capital Markets this week downgraded its outlook for several publicly traded landlords of senior housing and skilled nursing facilities, but post-acute care emerged as a rare bright spot in the analysis — with the prediction that the sector will recover faster than its senior living counterparts. The financial services provider issued downgrades to Welltower […]
The proportion of skilled nursing facilities that earned incentive bonuses under an alternative Medicare payment model dropped in fiscal 2020, with the vast majority of properties either losing money or breaking even. Sixty-five percent of SNFs saw negative adjustments under the SNF Value-Based Purchasing (VBP) program, according to a new analysis published this week in […]
Nursing homes have long existed in a liminal space between acute care and senior living. The short-term rehab side of nursing care has increasingly turned into something like a mini-hospital, as both Medicare and Medicare Advantage have looked to reduce overall spending by cutting down on hospital admissions and lengths of stay — and operators […]
The Ensign Group (Nasdaq: ENSG) kicked off 2021 by acquiring the operations of three skilled nursing facilities in Southern California with 99 beds apiece: Golden Hill Post Acute in San Diego, St. Catherine Healthcare in Fullerton, and Camino Healthcare in Hawthorne. The transaction closed on New Year’s Day, and the San Juan Capistrano, Calif.-based Ensign […]
The two pharmacy giants in charge of the federal government’s COVID-19 vaccination program for long-term care facilities on Wednesday pushed back on reports that the rollout is proceeding slower than anticipated, while a top industry trade group reported only isolated problems thus far. Both Walgreens and CVS indicated that the push to provide the first […]
Only about 13% of the first COVID-19 vaccine doses have been administered to nursing home residents by the first business week of 2021, raising concerns about the rollout for both the elderly and the general public. The federal government’s long-term care vaccination initiative has about 3.3 million total doses set aside, but just 429,066 had […]
George Hager has retired as the CEO of Genesis HealthCare (NYSE: GEN), the nursing home chain announced Tuesday morning. Robert Fish, chairman of the board, will succeed Hager effective immediately. Hager will continue as a senior advisor to the board; Fish will remain as board chairman. “We are fortunate to have Bob step in as […]
As the calendar turned to 2021, the skilled nursing mergers-and-acquisitions market showed signs of heating up with multiple big-dollar portfolio deals announced. First up, MONTICELLOAM on Monday trumpeted its involvement in a $507 million skilled nursing portfolio transaction in the Southeast. The New York City-based health care lender and asset manager originated $368 million in […]
Each January, SNN tries to predict the top trends that will sweep the industry for the coming 12 months. In 2021, the task has never been harder. COVID-19 completely wiped out the predictions we had made for 2020, a year that began with the looming specter of clawbacks related to the Patient-Driven Payment Model (PDPM), […]
Despite a spike in the number of “immediate jeopardy” complaints at nursing homes, the initial wave of emergency inspections during the COVID-19 crisis resulted in a significantly lower rate of violations, a new federal report determined — while states across the country face a growing backlog of overdue routine surveys. Between March 23 and May […]
As the calendar turns, the post-acute and long-term health care space looks to apply the punishing lessons learned during the pandemic year of 2020. Every January, SNN rings in the new year by asking top executives from all areas of the landscape — from operators to real estate investors to therapy partners — for their […]
Each year, Skilled Nursing News uses the end of December to look back on the stories that shaped the previous 12 months. In the past, the exercise has occasionally revealed a few forgotten surprises from the year that was, though SNN’s lists of most-read stories often have a recurring theme. For the past two years, […]