Despite losing $58.1 million in the third quarter of 2018, leadership at Genesis Healthcare, Inc. (NYSE: GEN) appeared upbeat during this past earnings season — and last week, they got an early Christmas present that seems to justify their optimism. Financial services company Stifel upgraded its outlook on the Kennett Square, Pa.-based skilled nursing provider […]
At face value, the statistics look grim: Nearly three-quarters of the nation’s skilled nursing facilities will see pay cuts in 2019 under the government’s value-based purchasing (VBP) program after failing to reach mandated readmission benchmarks. But the numbers themselves don’t tell the full story, according to players in the long-term health care space. Based on […]
Nearly three-quarters of skilled nursing facilities will see Medicare reimbursement penalties after failing to hit certain readmission improvement benchmarks, according to a new set of data from the Centers for Medicare & Medicaid Services (CMS) Of the just under 15,000 facilities that reported sufficient data, 73% — or nearly 11,000 buildings — had incentive payment […]
Among the potential upsides and pitfalls under the new Medicare payment system for skilled nursing facilities, one specialty comes up consistently as an area of great opportunity: speech therapy. When the new Patient-Driven Payment Model (PDPM) takes effect next October, speech therapy will play a greater role in a resident’s overall care plan than under […]
The cost of care at non-profit senior living facilities rose the most for skilled nursing residents in 2018, according to a new survey, but operators are still feeling the pain across all levels of care. The Chicago-based specialty investment bank Ziegler found that fees for skilled nursing services at non-profits rose 3.3% in 2018, based […]
The Centers for Medicare & Medicaid Services (CMS) issued yet another sign of support for expanding the use of telehealth services in skilled nursing facilities, pointing to a variety of studies that show the technology can save the government money. Writing in a mandated report to Congress released earlier this month, CMS highlighted multiple areas […]
Investment in skilled nursing facilities hasn’t slowed down despite persistent dark clouds surrounding the industry’s outlook. One of the overarching themes this past conference season — including at the summits held by the American Health Care Association (AHCA) and the National Investment Center for Seniors Housing & Care (NIC) — is that there’s an ongoing […]
If there’s been one common theme in my nearly two years covering skilled nursing and long-term health care, it’s the idea that the industry is a silver bullet or two away from success. Maybe it’ll take the form of the silver tsunami, whenever the wave of baby boomers eventually begins requiring intensive institutional care. Maybe […]
The Centers for Medicare & Medicaid Services (CMS) on Tuesday announced an initiative to divert some of the money it collects in provider fines to fund general nursing home improvement initiatives. The three-year Civil Money Penalty Reinvestment Program (CMPRP) will use a portion of nursing home penalty cash to pay for the development of toolkits […]
Attend any industry conference, and you’ll likely hear multiple panels discuss the importance of care coordination: In an era of managed Medicare, accountable care organizations (ACOs), and value-based purchasing, players along the acute and post-acute care continuum have a financial incentive to seamlessly transition residents from hospital to nursing facility to home. But on the […]
The federal government slashed improper payments to skilled nursing facilities by a little more than $1 billion in fiscal 2018, but regulators aren’t declaring victory yet. The Centers for Medicare & Medicaid Services (CMS) on Friday reported a Medicare fee-for-service improper payment rate of 6.55% in fiscal 2018 for SNFs, down from 9.33% during the […]
A major provider of senior housing and care services across the acuity spectrum on Wednesday announced an internal reorganization, with the eventual goal of evolving into a post-acute care network for its residents. The Avamere Family of Companies moved to consolidate its separate entities — senior housing and skilled nursing operator Avamere Living, therapy provider […]
Five Star Senior Living (Nasdaq: FVE) raised concerns Wednesday about its ongoing viability after reporting losses of $50.4 million so far in 2018. “Five Star faces challenges that are currently negatively impacting its revenues, expenses, cash flows and results from operations, and Five Star expects these challenges to continue at least through 2019,” the Newton, […]
KeyBank Secures $36.3M in Ohio for Foundations KeyBank Real Estate Capital financed Foundations Health Solutions’ $36.3 million acquisition of four skilled nursing facilities in Ohio, the lender announced earlier this week. The 442-bed portfolio is spread across the Buckeye State, with the properties built between 1961 and 1984. KeyBank funded the deal through the Federal […]
Providers have a scant 11 months to prepare for the tectonic shift of the Patient-Driven Payment Model, but that’s only one of the regulatory and economic pressures they’ll face in 2019. New requirements of participation, the local politics of Medicaid, and staffing shortages will continue to plague the skilled nursing industry over the coming 12 […]
New guidelines that could open up telehealth coverage under Medicare Advantage represent a serious opportunity for the industry, according to multiple technology providers — especially as the moves signal growing support for remote care from key federal officials. Under a proposed rule released late last month, the Centers for Medicare & Medicaid Services (CMS) would […]
Smaller non-profit nursing home operators have found themselves even less able to weather the industry storms than their for-profit counterparts, with many exploring sales to larger, regional chains — a trend that has attracted the scrutiny of government officials in the state of New York. The state’s Charities Bureau this month released new guidance governing […]
Providers’ early reviews of the new Patient-Driven Payment Model (PDPM) have been largely positive, but operators also only have around 11 months to develop the kinds of internal protocols necessary to maximize reimbursements — and success could hinge on getting various players within a single facility to agree with each other. In Leah Killian-Smith’s experience […]
Sabra Health Care REIT (Nasdaq: SBRA) dropped the news late Monday that its largest operator, Senior Care Centers, had stopped paying rent — and on Tuesday, its CEO framed the issue as an attempt to force the company’s hand amid a pending sale. The Irvine, Calif.-based real estate investment trust (REIT) had already entered into […]
Sabra Health Care REIT, Inc. (Nasdaq: SBRA) announced on Monday that its portfolio of Senior Care Centers buildings hasn’t generated straight-line rents since May, resulting in a $1.9 million shortfall in the company’s third-quarter income. The Irvine, Calif.-based real estate investment trust (REIT) issued notices of default and lease termination during the third quarter, the […]
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