Nursing Home Employment Numbers Slide Again in November

The nation’s nursing homes lost about 1,700 jobs in November, marking two consecutive months of slight slides since the introduction of the new Medicare payment model for skilled nursing services. The federal Bureau of Labor Statistics (BLS) counted a seasonally-adjusted total of 1,603,500 employees at nursing care facilities last month, a drop of 1,700 from […]

Medicaid’s Share of Nursing Home Revenue, Resident Days Hits Record High as Medicare Drops to Historic Low

Occupancy at the nation’s nursing homes stayed flat between the most recent two quarters, but the proportion of residents covered under Medicaid hit a record high — while the share of bread-and-butter Medicare residents fell to a record low. Medicaid accounted for exactly two-thirds, or 67.6%, of resident days at nursing facilities in the third […]

Portopiccolo Expands with $14.5M Bridge-to-HUD Loan; SLIB Turns Two in Tennessee ‘Win-Win’

The Portopiccolo Group recently expanded its skilled nursing ownership footprint with the assistance of Capital Funding Group, which bankrolled the acquisition of a Virginia facility and the refinance of a second property in Kentucky. The $14.5 million bridge-to-Department of Housing and Urban Development (HUD) loan allowed the Englewood Cliffs, N.J.-based Portopiccolo purchase Emporia Manor, a […]

Sabra CEO Matros Has ‘No Sympathy’ for Third-Party Therapy Companies Amid Switch to PDPM

The new Medicare payment model for nursing homes has brought significant upheaval around therapy provision — an outcome that one prominent CEO in the space says therapy companies should have seen coming sooner. Given all of the warning signs from Washington and Baltimore — dating back to when the federal government was planning on implementing […]

SNN Poll: 43% of Operators, Vendors Have Laid Off Therapy Staff Post-PDPM

News of therapy layoffs swept through the skilled nursing industry in the weeks after the implementation of the Patient-Driven Payment Model (PDPM), and a new poll from Skilled Nursing News finds that more than 40% of operators and therapy vendors have made some kind of staffing reductions post-October 1. A little more than 43% of […]

How LTC Properties Worked Through Tenant Bankruptcies to See Skilled Nursing Opportunity Ahead

For the past few public earnings calls, analysts have peppered executives at LTC Properties (NYSE: LTC) with questions about the ongoing bankruptcies of skilled nursing tenants Senior Care Centers and Preferred Care, which have proven to be long-running issues for the real estate investment trust (REIT). But with a plan in place to sell off […]

New NY Nursing Home Law Targets Physician Privilege Disclosures

A new law in New York State will require nursing home operators to provide detailed information about their physician privileges to residents as a prerequisite for admission. Signed into law by Gov. Andrew Cuomo late last month, the update to the state’s public health law means that skilled nursing facilities can’t accept residents until they […]

Bottom Line: How One CFO’s Retail, Hospitality Background Led to Skilled Nursing Turnaround Success

Robert Specht had spent years at the financial helm of companies in a variety of spaces, but he was a post-acute and long-term care newcomer when he accepted a crash course in the business: a consulting position for a 33-building senior housing and care chain in receivership. Working with Health Dimensions Group, the provider and […]

After 50 Years, PruittHealth Looks to the Future with I-SNP — and Staff Development Strategies from Disney

PruittHealth spent 2019 celebrating its 50th anniversary in the post-acute and long-term care space, but second-generation CEO Neil Pruitt, Jr. says his company — along with the rest of the industry — must focus on novel and creative strategies for surviving into the future. Pruitt sees potential in a variety of forward-thinking initiatives, from the […]

Amid Dropping Utilization, Lowest-Performing Nursing Home Margins Fell to -10.2% in Mass.

Massachusetts has been at the forefront of nursing home stress over the last few years, and a new government report illustrated a host of negative statistics — from cratering utilization to median margins as low as -10% for the worst-performing properties. In terms of total resident days, nursing facility utilization in Massachusetts dropped 5.4% between […]

CMS to Have ‘Limited’ Survey Capacity for New Nursing Home Requirements of Participation

Confusion continues to reign over the final set of new requirements for Medicare- and Medicaid-certified nursing homes, as the federal government disclosed that it will have very little ability to enforce the rules until the middle of next year. The third and last update to the Requirements of Participation (RoPs) is set to take effect […]

Why the Median Skilled Nursing Margin Fell Below 0% — and How Operators Can Come Up from Underwater

Earlier this fall, a decades-old annual survey of nursing home finances revealed that for the first time, the median operating margin for the nation’s skilled nursing facilities fell below zero. While the statistics from consulting firm CLA weren’t necessarily surprising, given the micro- and macro-level challenges facing nursing home operators over the last decade, that […]

Record-Setting Nursing Home Fraud Case Ends in $44M Judgment

The former nursing home owner behind the largest criminal health care fraud case in U.S. history had already received a 20-year prison sentence, but a federal judge on Thursday added a $44 million payment to the punishment. Philip Esformes, who once ran a skilled nursing facility and assisted living chain with locations from Miami to […]

Early PDPM Claims Data Reveals Far More Winners Than Losers, ‘Impossible Combinations’ of Conditions

The first round of claims data under the new Medicare payment model for nursing homes shows that the majority of operators are seeing reimbursement boosts — while some are also making key billing mistakes that could result in missed payments for certain services. The average skilled nursing facility saw Medicare reimbursements of $614.96 per patient […]