Colony Capital’s Barrack: Payment Variations Make Skilled Nursing a ‘Rubik’s Cube’

Colony Capital, Inc.’s (NYSE: CLNY) skilled nursing holdings don’t frequently factor into the real estate investment trust’s (REIT) quarterly conference calls, but CEO Thomas Barrack on Friday likened the industry to a specific children’s puzzle. “Skilled nursing is a Rubik’s cube. Why? Because we’re so far removed from being able to fix anything,” Barrack said […]

LTC Properties: Senior Care Centers Won’t Survive Bankruptcy, Transfer Ongoing

Executives at LTC Properties, Inc. (NYSE: LTC) don’t have high hopes that troubled tenant Senior Care Centers will survive its current bankruptcy proceedings, and the real estate investment trust (REIT) is actively negotiating its exit from the facilities. “As you know, Senior Care declared bankruptcy in December, and we don’t believe they have the ability […]

Editor’s Take: Skilled Nursing Industry Can Ignore Medicare Advantage at its Own Risk

Every industry gathering has a theme, whether it’s an intentional move by the organizers or not. But the most illustrative conference experiences come when attendees and those in charge both can’t stop talking about the same subject — as was the case this past week at the National Investment Center for Seniors Housing & Care’s […]

Diakonos, Leo Brown Mix Post-Acute with Private Pay at New $15M Skilled Nursing Facility

In an era of tight finances and legal caps on the number of beds, new skilled nursing developments are few and far between — with most of the action in recent years focused on higher-end, post-acute rehab facilities. The Diakonos Group’s latest development, a $15 million skilled nursing facility in Tulsa, Okla. with a total […]

Vanguard Healthcare Settles Medicare, Medicaid Fraud Claims for $18 Million

A Tennessee-based skilled nursing provider this week agreed to pay the federal government $18 million in order to resolve claims of Medicare and Medicaid fraud. Vanguard Healthcare, LLC of Brentwood, Tenn. — along with several of its affiliated firms — reached the deal with the Department of Justice, which accused the provider of providing “grossly […]

Average Skilled Nursing Facility Loses Money on Each Resident, Every Day

The average nursing home in the United States lost four cents per patient day in the year 2017, according to a new analysis from a national accounting firm — down sharply from making $3.80 per resident every day just four years before. While the exact figure varied by region, with some areas seeing per-day net […]

What Hospitals Want: How SNFs Can Break into New Payment Partnerships

Skilled nursing facility operators frequently hear about how forging hospital partnerships is essential to their success under new payment models, but the intricacies of those interactions can often be difficult to navigate. Speaking at the National Investment Center for Seniors Housing & Care (NIC) spring conference in San Diego last week, the leader of one […]

Sabra, Senior Care Centers Reach Settlement Deal Amid Provider’s Bankruptcy

Sabra Health Care REIT (Nasdaq: SBRA) agreed to drop its claims against skilled nursing tenant Senior Care Centers amid the provider’s ongoing bankruptcy process, the REIT announced Sunday. Under the terms of the deal, Sabra will cease its actions against the Dallas-based Senior Care Centers in exchange for “certain settlement payments,” a portion of which […]

Paul Ryan: Medicare Advantage is the Future of Medicare, and Medicaid Reform Will Return

Public-private partnerships will form the basis of comprehensive Medicare reform as the baby boom population ages, former Speaker of the House Paul Ryan predicted Thursday morning in remarks at a major skilled nursing and senior housing industry conference. “I believe the future for Medicare is in the Medicare Advantage type of space,” Ryan, a Wisconsin […]

Ensign Group Leadership Shuffle to Bring New CEO

Skilled nursing provider The Ensign Group (Nasdaq: ENSG) on Thursday announced a series of leadership changes that will bring a new CEO to the company by spring. Barry Port, currently chief operating officer of the company’s Ensign Services arm, will take the reins from Christopher Christensen effective May 30, while Christensen transitions to executive chairman […]

NIC Chief: Skilled Nursing Opportunity Lies in Senior Housing Partnerships

As value-based care models place greater emphasis on individual resident outcomes — and less importance on the particular care setting — partnerships with senior housing providers could represent a major opportunity for the beleaguered skilled nursing industry. That was the main message from National Investment Center for Seniors Housing & Care (NIC) president and CEO […]

Skilled Nursing Pressures Force CVS to Take $2.2B Hit in Fourth Quarter

Shares of pharmacy and insurance giant CVS Health (NYSE: CVS) slid on Wednesday after executives reported a $2.2 billion impairment charge related to its long-term health care business. The Woonsocket, R.I.-based CVS took the hit in the fourth quarter of 2018 due to troubles at its Omnicare arm, which provides pharmacy services to long-term health […]

Spending Growth for Skilled Nursing Facilities to Lag Behind Home Health Care

Total spending on nursing care facilities will grow by 5.4% through 2027, according to a new analysis from the Centers for Medicare & Medicaid Services (CMS) — but that figure still lags behind the rate increase for home health agencies. Overall spending on medical care at skilled nursing facilities and continuing care retirement communities (CCRCs) […]

NHI ‘Excited’ for Skilled Nursing Amid Senior Housing Hiccups

In an interesting role reversal, executives at National Health Investors (NYSE: NHI) expressed optimism about skilled nursing investments while handling pointed questions about some distress on the senior housing side of its business. CEO Eric Mendelsohn trumpeted his real estate investment trust’s (REIT) new partnerships with skilled nursing operators Ignite Medical Resorts and Wingate on […]

Leaders Least Optimistic About Standalone Skilled Nursing Assets in 2019

A survey of industry leaders from around the country revealed the least optimism for standalone skilled nursing assets in 2019. When asked about the perceived economic viability of solo SNF properties over the coming year, a plurality of respondents to Lancaster Pollard’s 2019 Seniors Housing & Care Survey — or 36% — said the outlook […]

Genesis Exec: Skilled Nursing Industry Has No Choice But to Embrace New Models

It’s an existential problem that many providers face in the skilled nursing industry: New payment models demand substantial operational changes, but the current fee-for-service reality determines how they can pay and plan for those shifts. This frustrating dichotomy was on full display during a panel discussion on Institutional Special Needs Plans (I-SNPs) and other new […]

CareTrust Touts $300M Skilled Nursing Pipeline for 2019

CareTrust REIT (Nasdaq: CTRE) turned in solid earnings results for the fourth quarter of 2018, with a sizable pipeline of skilled nursing assets coming in 2019. The real estate investment trust’s quarterly revenue of $40.4 million beat analyst estimates by about $270,000, and represented an increase of around 10% from the previous year. Still, chief […]

Former Mainstreet Executive Takes Over Four Rapid Recovery Centers in Texas

The operations of four rehab-focused skilled nursing facilities developed by Mainstreet have been sold to a former company executive and his newly formed operating firm, Skilled Nursing News has learned. Led by Mark Fritz, who helped create the “Rapid Recovery Center” model for the Carmel, Ind.-based senior care developer, Bridgemoor now operates the quartet of […]