Walker & Dunlop this week announced the completion of $172 million in financing for a seven-building skilled nursing portfolio across the Northeast and the Midwest. Four of the properties were refinanced through the Department of Housing and Urban Development’s (HUD) 232/233 program, with the remaining three undergoing HUD 232 loan modification. The portfolio consisted of: […]
Genesis HealthCare (NYSE: GEN) on Wednesday announced that it will voluntarily remove itself from the New York Stock Exchange — while also landing a $50 million capital infusion from ReGen Healthcare as part of an ongoing restructuring effort. ReGen’s $50 million debt investment gives the company — a health care turnaround firm — a 25% […]
Welltower Inc. (NYSE: WELL) late Tuesday announced that it will largely end its relationship with troubled nursing home giant Genesis HealthCare (NYSE: GEN), with its joint venture health system partner ProMedica picking up some of the buildings — while also divesting 25 properties acquired through its 2018 ProMedica JV. The Genesis exodus spans 51 assets, […]
Even before COVID-19, the median staff turnover at U.S. nursing homes was nearly 100%, with even less continuity at facilities with lower federal star ratings, a new study has determined. Workers turned over at a median rate of 94% and a mean rate of 128% in 2017 and 2018, according to an analysis published this […]
Therapist staffing coverage at nursing homes fell up to 10% after the October 2019 implementation of a new Medicare payment model, a new study has determined — with the cuts coming primarily on the backs of contracted employees and not full-time skilled nursing facility staffers. Physical and occupational therapist staffing was 6% lower in the […]
As nursing home deaths in New York remain national news, reform efforts in the state are increasingly focusing on for-profit providers, and one proposal would specifically ban their expansion in the Empire State. For-profit nursing home operators would be prohibited from establishing new facilities or expanding their existing ones under a proposal sponsored by Manhattan […]
Whether COVID-19 will usher in a permanent demographic shift toward post-acute and long-term care in the home remains uncertain, but there’s clear evidence that single-occupancy rooms are becoming less of a nursing home luxury and more of the baseline cost of doing business. The demand for privacy had been growing before the pandemic, consulting firm […]
With federal relief propping up nursing home operations during the ongoing COVID-19 crisis, the mergers-and-acquisitions market has remained relatively stable over the past year — but buyers and sellers are already starting to adjust to a world where the full licensed bed capacity is more of a pipe dream than a realistic benchmark. Amy Sitzman, […]
After a year of remarkable tragedy in nursing homes, a new analysis of federal COVID-19 data shows a significant drop in resident deaths in the weeks after vaccine clinics began — a trend made even more striking given the simultaneous spike in U.S. coronavirus deaths over the same span. Weekly deaths in nursing homes fell […]
The widespread embrace and expansion of telehealth may go down as one of the top long-term positive developments to come out of the COVID-19 pandemic, and a pair of tech players in the nursing home space this week announced a new partnership aimed at building on that momentum. Telemedicine provider and primary care practice TapestryHealth […]
One of the most frustrating parts about covering the disaster in long-term care over the past year has been seeing the incredibly complex system failure of COVID distilled into news stories, Twitter broadsides, and press releases with decidedly simpler narratives. Whether you’re a novelist or a journalist, good storytelling requires a hero and a villain, […]
Whether or not home health providers can maintain the volume they siphoned away from skilled nursing facilities during the pandemic has emerged as a top question for policymakers and financial analysts alike. A permanent shift from SNF to home could portend financial and operational chaos for a sector already battered by COVID-19, the thinking goes, […]
The vaccine rollout at nursing homes and other congregational care settings has brought rapid and substantial declines in COVID-19 case numbers, but leaders at a top landlord in the sector say the desperately welcome trend has yet to have an impact on persistently low occupancy. “Fortunately, the rollout of the vaccine to over 94% of […]
Private equity ownership of nursing homes has resulted in a variety of negative outcomes, including an elevated risk of death for short-term Medicare patients, higher rates of antipsychotic drug use, and increased taxpayer spending on episodes of care, a new study concluded. Published as a National Bureau of Economic Research working paper, the February 2021 […]
The size and permanence of a COVID-era shift to home health has emerged as a top metric to watch in post-acute and long-term care in 2021. Should hospitals and patients continue to elect direct trips home even after the COVID-19 danger subsides, the natural trend could have far-reaching effects on the future of the nursing […]
Executives at LTC Properties (NYSE: LTC) on Friday struck an upbeat tone about some of the top pressure points for health care real estate investment trusts (REITs) amid the ongoing pandemic, including a troubled tenant and the significant shift of patient volume to home health. Genesis HealthCare (NYSE: GEN), the nursing home giant that spurred […]
Even with only partial data, nursing homes were the second-deadliest workplace amid the ongoing COVID-19 pandemic, according to a new analysis — and the missing numbers may well push the setting into the top spot. U.S. nursing homes logged 80 deaths for every 100,000 full-time employees last year, Scientific American concluded in a study published […]
The national nursing home landscape saw multiple positive operational trends prior to the onset of the COVID-19 pandemic, including a slight gain in margins and an increase in the proportion of top-ranked facilities, according to a new national benchmarking report. The national average nursing home net income per patient day rose from just two cents […]
Bank Leumi USA this week announced the completion of a $23.5 million deal covering four skilled nursing facilities and one assisted living property operated by Prestige Care. The family operator used the cash to refinance an existing asset-based loan revolver and a real estate term loan, with the goal of boosting liquidity and funding future […]
The Biden administration this week moved closer to installing its top health care leaders, with reports of an upcoming pick for the administrator of the Centers for Medicare & Medicaid Services (CMS) and a set confirmation hearing date for its nominee to head the Department of Health and Human Services (HHS). President Biden will select […]
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