The White House on Monday released a budget proposal that would substantially slash Medicare and Medicaid spending over the next decade. In part by adopting a site-neutral payment model for post-acute care under Medicare and converting the Medicaid system to block grants, the federal government would end up gutting more than $1 trillion from the […]
Once the new Medicare payment model takes effect, frontline nurses may prove vital to securing the proper reimbursements for skilled nursing services. The Patient-Driven Payment Model (PDPM) will place increasing pressure on nursing facilities to justify each resident’s need for Medicare-reimbursed skilled care, Zimmet Healthcare Services Group president Marc Zimmet said during a recent industry […]
The developer of a software platform that has brought substantial hospital readmission cuts to skilled nursing facilities now has a $10 million cash influx to expand its footprint. Real Time Medical Systems raised that haul in a successful funding round involving multiple investors led by SunBridge Capital, Real Time founder and executive chairman Scott Rifkin […]
Various industry stakeholders on Wednesday took to Capitol Hill for a hearing on safety standards at the country’s skilled nursing facilities, but one leading senator took the opportunity to sound the alarm over potential cuts to the Medicaid program. The Trump administration could move as soon as next week to publicly restart the fight over […]
Non-profit hospital operator ProMedica announced its first set of annual financial data after acquiring skilled nursing giant HCR ManorCare last year, and the early results weren’t positive. The Toledo, Ohio-based firm reported $70 million in losses for fiscal 2018, according to an unaudited financial report for bondholders, despite a major revenue gain from absorbing approximately […]
The Centers for Medicare & Medicaid Services (CMS) on Tuesday announced stricter standards for its consumer-facing nursing home ratings, including a lower threshold for staffing penalties and new separate ratings for short-term and long-term stays. Starting April 24, CMS will automatically hand out one-star staffing ratings to buildings that have four or more days in […]
Non-profit health systems in the United States have about $600 billion worth of real estate sitting on their balance sheets — and as they look to shake up their operations, the marketplace is ripe for disruption, according to Tom DeRosa, CEO of Welltower Inc. (NYSE: WELL). But investors shouldn’t expect skilled nursing to be part […]
Skilled nursing providers actually saw across-the-board gains in Medicare margins between 2016 and 2017, but the effects were mitigated by a familiar foe: Medicare Advantage plans. The average provider saw a profit of $102 per patient day for residents covered under Medicare Part A in 2017, according to a new analysis from accounting and advisory […]
Skilled nursing operator Greystone Healthcare Management announced the appointment of Stephanie Handelson, a longtime leader in the senior living industry, as CEO. Handelson formally assumed the top spot at the chain of 28 skilled nursing facilities on Monday, succeeding interim CEO Gerry Jenich. The Tampa, Fla.-based firm operates as the Greystone Health Network, with home […]
Survey after survey finds that investors remain skittish about skilled nursing, but a top executive at CareTrust REIT (Nasdaq: CTRE) says his firm has the opposite problem: There just aren’t enough solid properties available to satiate its appetite. Skilled Nursing News caught up with Mark Lamb, the real estate investment trust’s (REIT) chief investment officer, […]
Colony Capital, Inc.’s (NYSE: CLNY) skilled nursing holdings don’t frequently factor into the real estate investment trust’s (REIT) quarterly conference calls, but CEO Thomas Barrack on Friday likened the industry to a specific children’s puzzle. “Skilled nursing is a Rubik’s cube. Why? Because we’re so far removed from being able to fix anything,” Barrack said […]
Executives at LTC Properties, Inc. (NYSE: LTC) don’t have high hopes that troubled tenant Senior Care Centers will survive its current bankruptcy proceedings, and the real estate investment trust (REIT) is actively negotiating its exit from the facilities. “As you know, Senior Care declared bankruptcy in December, and we don’t believe they have the ability […]
Every industry gathering has a theme, whether it’s an intentional move by the organizers or not. But the most illustrative conference experiences come when attendees and those in charge both can’t stop talking about the same subject — as was the case this past week at the National Investment Center for Seniors Housing & Care’s […]
In an era of tight finances and legal caps on the number of beds, new skilled nursing developments are few and far between — with most of the action in recent years focused on higher-end, post-acute rehab facilities. The Diakonos Group’s latest development, a $15 million skilled nursing facility in Tulsa, Okla. with a total […]
A Tennessee-based skilled nursing provider this week agreed to pay the federal government $18 million in order to resolve claims of Medicare and Medicaid fraud. Vanguard Healthcare, LLC of Brentwood, Tenn. — along with several of its affiliated firms — reached the deal with the Department of Justice, which accused the provider of providing “grossly […]
Nimble, regional operators have been the belles of the ball in skilled nursing over the last few years, but the leader of the nation’s largest chain says he wouldn’t trade his scale for anything. “The advantages of my scale well outweigh the negatives of my scale,” George Hager, CEO of Genesis HealthCare (NYSE: GEN), told […]
The average nursing home in the United States lost four cents per patient day in the year 2017, according to a new analysis from a national accounting firm — down sharply from making $3.80 per resident every day just four years before. While the exact figure varied by region, with some areas seeing per-day net […]
Skilled nursing facility operators frequently hear about how forging hospital partnerships is essential to their success under new payment models, but the intricacies of those interactions can often be difficult to navigate. Speaking at the National Investment Center for Seniors Housing & Care (NIC) spring conference in San Diego last week, the leader of one […]
After a rollicking 18 months that saw Sabra Health Care REIT (Nasdaq: SBRA) substantially restructure its portfolio, the company’s CEO is looking forward to some peace and quiet over the course of 2019 — but not before swiping back at another leader’s assertion that the real estate investment trust (REIT) model has put a strain […]
Sabra Health Care REIT (Nasdaq: SBRA) agreed to drop its claims against skilled nursing tenant Senior Care Centers amid the provider’s ongoing bankruptcy process, the REIT announced Sunday. Under the terms of the deal, Sabra will cease its actions against the Dallas-based Senior Care Centers in exchange for “certain settlement payments,” a portion of which […]
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