Executives from Welltower Inc. (NYSE: WELL) have been largely mum about the company’s ongoing integration of HCR ManorCare’s skilled nursing facilities into its overall portfolio, but when pressed Tuesday, leaders hinted that the metrics are moving in the right direction. Occupancy at ManorCare SNFs has increased by more than 100 basis points, Welltower chief investment […]
For many skilled nursing providers, the launch last week of the 2020 application period for the government’s flagship bundled-payment program was low on the list of priorities. After all, under the new Bundled Payments for Care Improvement Advanced (BPCI Advanced) model, nursing homes can’t be episode initiators, meaning hospitals and other acute-care providers are the […]
A pair of private equity firms on Monday announced a new partnership aimed at developing and buying inpatient rehabilitation facilities, with an eye toward underserved communities — and eventually filling gaps in the care continuum beyond the IRF. Blue Wolf Capital Partners and Peloton Equity, LLC have teamed up to form ClearSky Health, with veteran […]
Patients referred to skilled nursing facilities only become residents about 37% of the time, a new set of survey results reveals — with nearly a quarter of those lost referrals going to a direct competitor. Of the potential residents referred to any given SNF, 44% are lost, according to data released last week by Enquire, […]
Ventas Inc. (NYSE: VTR) on Friday announced an extension of its lease arrangement with Genesis HealthCare (NYSE: GEN) — a move that intrigued analysts given other landlords’ moves away from the operator. The real estate investment trust (REIT) granted Genesis five more years under its existing rent and escalator terms, with a few landlord-friendly twists: […]
Industry leaders had reason to cheer the federal government’s decision to boost Medicare rates for skilled nursing facilities, but the gain could end up only papering over the persistent reimbursement problems in the space. The Centers for Medicare & Medicaid Services (CMS) last week proposed a 2.5% increase to the Medicare market basket rate, a […]
The slow-motion collapse of the Skyline Healthcare chain of nursing homes continued this week as the troubled operator surrendered its licenses for five buildings in Massachusetts — while another building that had been placed in receivership in Nebraska is set to shut its doors in May. After local news agencies reported that the provider had […]
The federal government on Wednesday signaled its intent to expand coverage options for Americans who qualify for both Medicare and Medicaid, though the states will largely be in the driver’s seat moving forward. In a letter to the 50 state governors from administrator Seema Verma, the Centers for Medicare & Medicaid Services (CMS) invited states […]
Regional Health Properties, Inc. (NYSE American: RHE) this week announced an agreement to sell four skilled nursing properties to MED Healthcare Partners, LLC, for a total of $28.5 million. The 500-bed portfolio consists of Attalla Health & Rehab in Attalla, Ala.; Healthcare at College Park in College Park, Ga.; Northwest Nursing Center in Oklahoma City; […]
The state of Kansas is set to implement stricter vetting standards for nursing home owners and investors in the wake of several high-profile receivership cases over the past year. Passed with near-unanimous support from the Republican-controlled legislature and the approval of the Democratic governor, the new law will require potential nursing home owners to submit […]
With increased pressure to improve skilled nursing outcomes and advances in technology, telehealth providers have emerged as a key target of attention from operators and investors alike. But that investment won’t provide the intended returns if the workers at the building level don’t fully buy into an operator’s overall telemedicine strategy, according to a telehealth […]
Non-profit hospital system ProMedica last week announced the layoffs of 100 more administrative and corporate employees, marking the second round of staffing reductions since it took over the operations of nursing home chain HCR ManorCare. The Daily Reporter of Coldwater, Mich. — where ProMedica operates the Coldwater Regional Hospital — initially reported the news, citing […]
The trust fund that supports Medicare Part A coverage will run out of money to cover full benefits in just seven years, the federal government announced on Monday, with potentially devastating long-term effects for the majority of nursing home operators. The Hospital Insurance (HI) Trust Fund, which directly supports Medicare Part A benefits — including […]
Ask any skilled nursing investor about the metrics that get them excited about a potential deal, and you’ll probably hear about the strength of a given operator in a market — along with other common factors such as proximity to a hospital, involvement in local care networks, and relatively young age of plant. In addition, […]
Skilled nursing facilities in the state of Pennsylvania lose an estimated $631 million per year caring for Medicaid residents, with non-profits taking a particularly large share of the stress. The state’s 221 non-profit nursing facilities lose an average of $82.16 per patient day on Medicaid beneficiaries, according to an April analysis from LeadingAge PA and […]
The recent bullish performance of publicly traded real estate investment trusts (REITs) could have a virtuous cycle effect in the space, potentially boosting mergers-and-acquisitions activity in the skilled nursing and broader health care industries. That’s the thesis of Alex Pettee and Hoya Capital Real Estate, a Connecticut-based investment advisory firm that on Monday published a […]
The leader of the Centers for Medicare & Medicaid Services (CMS) on Monday announced a “comprehensive review” of safety and quality standards for nursing homes, while also touting the progress made in recent years. “CMS is not waiting, and not settling for the status quo: I have directed my team at CMS to undertake a […]
Summit Healthcare REIT, Inc. has a bullish outlook on skilled nursing properties over the coming years, but that doesn’t mean every property is a winner. As of the end of 2018, the Lake Forest, Calif.-based real estate investment trust (REIT) owned four skilled nursing properties outright and 27 through various joint ventures — and that […]
Implicit in the government’s decision to allow Medicare Advantage plans to cover telehealth services with federal dollars is a question: Just because insurance plans legally can do it, will they? At least in the early going, multiple providers of telehealth tech to skilled nursing operators have said yes — and the promise of plan savings […]
The Centers for Medicare & Medicaid Services (CMS) last week made a small policy change that could have a major beneficial impact for skilled nursing providers that rely on Medicaid. CMS updated its guidance for the Patient-Driven Payment Model (PDPM), indefinitely extending a key workaround for states that base Medicaid rates on the existing Medicare […]