CMS Looks to Expand 3-Day SNF Waivers, Encourage Risk with New ACO Models

The Centers for Medicare & Medicaid Services (CMS) on Friday finalized its new set of rules for accountable care organizations (ACOs), removing the no-risk tracks that represented financial drains on Medicare and expanding three-day stay waivers for nursing homes. Under the new “Pathways to Success” model, most new ACOs will only have two years to […]

Happy Holidays from Skilled Nursing News

From all of us here at Skilled Nursing News and the other publications of Aging Media Network, we’d like to wish our readers a happy and bright holiday season — no matter what celebrations the next few weeks might have in store. In observance of Christmas and New Year’s Day, SNN will not publish from […]

Sabra’s ‘Genesis Exodus’ Nears Completion with $75.7M Sale of 13 SNFs

Sabra Health Care REIT (Nasdaq: SBRA) on Wednesday announced the sale of 13 more skilled nursing facilities operated by Genesis Healthcare (NYSE: GEN), leaving just three more to sell before the real estate investment trust (REIT) completes its long-planned divestiture of Genesis assets. Four of the Genesis-leased facilities sold last week for $38.6 million, with […]

White Oak Picks Up $700M Portfolio of Skilled Nursing, Senior Housing Loans from Capital One

White Oak Healthcare Finance on Wednesday made another major splash in the long-term care world, announcing the acquisition of a $700 million portfolio of 12 loans associated with skilled nursing and senior housing properties. The investment company — a subsidiary of the San Francisco-based alternative asset management firm White Oak Global Advisors — bought the […]

Looking Ahead to the Top Skilled Nursing Trends of 2019

We’ve made it to the end of 2018, which will likely go down as one of the most eventful years in the history of the long-term and post-acute care industry. Between the first round of Value-Based Purchasing penalties taking effect and the rapid rollout of the Patient-Driven Payment Model (PDPM), it’s probably a safe bet […]

Greystone’s $24M Deal in the Bronx; SNF-to-Behavioral Conversion in Mass.

Greystone Lands Nearly $24M Loan for Bronx Building Lending and advisory firm Greystone originated a $23.9 million loan to refinance the 200-bed Eastchester Rehab & Health Care Center in the Bronx, N.Y. The transaction represents a permanent financing of the property through the Federal Housing Administration, with a 30-year term. Eastchester Realty Associates will use […]

Families Prefer Non-Profit, Non-Chain Nursing Homes with Strong Staffing

Families of residents feel better about care in nursing homes if the property has a non-profit owner, features higher than average registered nurse (RN) staffing, and isn’t part of a chain — at least according to the results of a new study that attempts to quantify some of the more qualitative reasons why people choose certain […]

Centers’ $19M Hospital-to-SNF Conversion Moves Forward; $28M Construction in FL

Centers Moves Forward on Hospital Conversion Nearly five years after buying a defunct hospital in Brooklyn, Centers Health Care is nearing completion on a skilled nursing conversion project. Formerly St. Mary’s Hospital, the 280-bed facility in the Crown Heights neighborhood had sat vacant since a 2005 bankruptcy, according to a report on the local news site […]

Marquis Cuts Readmission Rate By 60% with Patient-Tracking Software Pilot

In less than six months, a skilled nursing provider in the Pacific Northwest cut hospital readmissions by 60%, and its director of data analytics credits a novel pilot partnership with a growing software provider. Starting in May, the Milwaukie, Ore.-based Marquis Companies rolled out Collective Medical software at three facilities in Oregon; at the time, […]

Private Equity Must Be Nimble, Innovative to Succeed in Skilled Nursing

Tempted by demographic trends and a new reimbursement system, private equity has taken a keen interest in the skilled nursing industry over the past year. But executives at these investment vehicles would be foolish to think they can plug their existing models into nursing home business and expect the same kind of success they may […]

Sabra Inks Deal to Sell 38 Senior Care Centers Buildings for $385 Million

Sabra Health Care REIT (Nasdaq: SBRA) on Thursday announced a $385 million deal to sell all 38 buildings in its portfolio operated by troubled skilled nursing provider Senior Care Centers. The deal — which the Irvine, Calif. based real estate investment trust (REIT) had previously announced earlier this year — is expected to close early […]

Growth in Medicare Advantage Spending Far Outpaces Traditional Medicare

The growth in overall spending on nursing homes in the United States slowed for the second consecutive year in 2017, according to the latest analysis from the Centers for Medicare & Medicaid Services (CMS) — while Medicare Advantage spending skyrocketed. All payers spent $166.3 billion at nursing care facilities and continuing care retirement communities (CCRCs) […]

Trump Cabinet Calls on States to Eliminate Certificate of Need Laws

Three prominent members of the Trump administration called on individual states to eliminate Certificate of Need (CON) laws regarding the development of new health care facilities — including nursing homes — characterizing the statues as anti-competitive and detrimental to consumers. Writing in a sweeping, nearly 120-page report on health care reform, the secretaries of the […]

ManorCare, ProMedica Leaders Offer First Look Inside New Skilled Nursing Giant

The leaders of the newly merged ProMedica and HCR ManorCare on Tuesday peeled back the curtain on their plans for the future, with a specific focus on using an in-house insurance plan to test ideas for expanded partnerships. Speaking in friendly territory — the stage at new landlord Welltower Inc.’s (NYSE: WELL) investor presentation in […]

OIG Touts Nearly $3B in Medicare, Medicaid Fraud Recoveries in Fiscal 2018

The Department of Health and Human Services’ top fraud watchdog recovered nearly $3 billion from providers in fiscal 2018, a figure that included more than $18 million in improper payments at nursing homes. The HHS Office of the Inspector General (OIG) touted its $2.91 billion haul in its most recent semiannual report to Congress, released […]