Welltower Inc. (NYSE: WELL) on Wednesday announced the pending sale of three skilled nursing facilities operated by HCR ManorCare and ProMedica for $67 million. “The sale of these HCR ManorCare-operated facilities was initiated following an unsolicited offer and is anticipated to close in the first half of 2020,” the Toledo, Ohio-based real estate investment trust […]
A health care staffing startup that had initially focused on the home setting sees significant opportunity to expand into a skilled nursing space still grappling with the implications of a new Medicare payment model — and it recently pulled down a $5 million funding round to help fuel that growth. The Los Angeles-based Gento, formerly […]
MONTICELLOAM, LLC and its affiliates this week announced the completion of a $32 million refinance for a 177-bed skilled nursing facility in Maryland. The New York City-based private real estate lender and asset manager, collectively known as Monticello, also provided a $2 million working capital loan through its asset-based lending arm, Monticello Commercial Capital, LLC. […]
The Trump administration’s proposed fiscal 2021 budget, released Monday, put a price tag on a long-floated plan to unify Medicare reimbursements for post-acute services under a single, site-agnostic system: more than $101 billion over a decade. “The budget prioritizes use of the trust funds to pay for seniors’ healthcare and incentivizes quality and efficiency in […]
After several consecutive months of declines, the nursing home industry actually added jobs in January, the first month of employment growth since the implementation of a new Medicare payment system last October. The nation’s nursing care facilities brought on 2,400 workers in the first month of 2020, according to the regular monthly employment report from […]
Both the skilled nursing and home health spaces are in the midst of shifts to new Medicare payment models, and despite widespread reports of therapy layoffs at nursing homes, a leading player in the home care space says it isn’t necessarily targeting the cohort of available therapists. Encompass Health Corporation (NYSE: EHC) has been monitoring […]
After multiple quarters of struggles with operator Daybreak Venture, Omega Healthcare Investors (NYSE: OHI) on Thursday announced a plan to largely purge the provider’s buildings from its portfolio. “During the course of the next several quarters, Omega anticipates transitioning, either through re-leases or sales, the vast majority of Daybreak’s existing Omega facilities,” chief operating officer […]
A group of 99 U.S. representatives, consisting of both Republicans and Democrats, this week asked the Centers for Medicare & Medicaid Services (CMS) for more information about a rule that could have a major impact on nursing home residents who receive therapy services. Under the 2020 Physician Fee Schedule (PFS) final rule, CMS implemented a […]
The Ensign Group (Nasdaq: ENSG) on Thursday announced that its skilled nursing facilities have seen rate increases of up to 6% under the new Medicare payment model, in part helping to drive the post-acute leader to another set of record earnings. The company’s established same-store facilities achieved those 6% gains, while Ensign’s transitioning facilities — […]
Skilled nursing giant HCR ManorCare has sold a pair of business lines to Grant Avenue Capital, according to an announcement from the private equity firm released earlier this week. The New York City-based Grant Avenue will roll the two entities — Heartland Rehabilitation and MileStone Staffing Services — into a new brand known as H2 […]
Genesis HealthCare (NYSE: GEN) on Tuesday announced a set of deals that will see the skilled nursing giant transfer control of 19 facilities in the West to a regional operator — while also still serving as a provider of back-office support and ancillary services. Under the terms of the $79 million transaction, the Los Angeles-based […]
The first month of 2020 has brought news of potentially sweeping Medicaid changes on multiple fronts, with the current presidential administration doubling down on its goal of undoing the Affordable Care Act and reducing federal spending on the program. But while nursing home operators and advocates are right to be skeptical of a Centers for […]
Greystone on Monday formally announced its takeover of 13 properties from the federal government, marking a new chapter for the much-publicized Rosewood Care Centers portfolio. The New York City-based investment firm installed an operational affiliate, Greystone Healthcare Management-Midwest, as the operator of the former Rosewood buildings in Illinois and Missouri, which include 12 skilled nursing […]
The skilled nursing industry’s opposition to a plan that could slash supplemental Medicaid programs for nursing homes began to ramp up over the last week, and as the fight moves into its next phase, SNF operators are finding allies in the senior living world. The comment period on the Medicaid Fiscal Accountability Rule (MFAR) came […]
The accountable care organization (ACO) has earned itself something of a bad reputation in certain corners of the skilled nursing world, but leaders who read SNN revealed an increasing willingness to work with the groups — instead of getting left behind. That’s just one of the many takeaways from our annual reader survey, which SNN […]
A federal push to reform programs that nursing home operators use to boost Medicaid reimbursement rates could potentially lead to a $50 billion cut in total annual funding — but a separate Medicaid crackdown appears to have spared the long-term care industry, at least for the time being. The leaders of two major trade groups […]
The latest analysis of the new Medicare payment model for nursing homes again shows more operators scoring gains than suffering losses, but the change from the previous system may not be quite as straightforward — particularly as fee-for-service Medicare continues to lose ground to other payment sources. A little more than 67% of skilled nursing […]
The early returns for the new Medicare nursing home payment model have been positive, but providers aren’t seeing gains by sitting back and watching the changes. Several key strategies for success have emerged in the Patient-Driven Payment Model’s first four months, with a particular focus on data — as well as clearly communicating the availability […]
Despite the seemingly constant headwinds swirling around the post-acute and long-term care space, the sector again helped to drive overall health care deal volume in 2019 — and with more uncertainty ahead for the year, investors could turn to even more acquisitions as a way to weather the storm. Long-term care transactions came in third […]
Blueprint Healthcare Real Estate Advisors late last week announced the successful sale of a seven-building skilled nursing portfolio across Alabama. The Chicago-based brokerage didn’t name the buyer or seller, though Blueprint did indicate that the portfolio went to a long-term care provider with an existing footprint in the state. The new operators plan to capitalize […]
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