Hospitals continue to discharge a fairly consistent share of their patients to skilled nursing facilities, but home health has seen a spike in admissions amid a shifting reimbursement landscape and changing consumer preferences. Acute-care hospitals released 22% of their patients into skilled nursing facilities during the first quarter of 2018, according to data released Wednesday […]
A court last year threw out a case that accused a group of Pennsylvania nursing homes of false advertising, but the state’s highest court this week ruled that the legal action can proceed. Skilled nursing operator Golden Gate National Senior Care, LLC and its affiliates can indeed face legal trouble over advertisements that promised specific […]
Of all the changes coming to the skilled nursing industry when a new payment model takes effect next fall, the most pressing may be one of the most basic: Starting in October 2019, providers will have a single opportunity to set themselves up for financial success with a patient’s initial assessment. The Patient-Driven Payment Model, […]
Since going public two years ago, Invesque Inc. (TSX: HLP.U) — the former Mainstreet Health Investments — had steadily moved to diversify away from the skilled nursing assets that had previously dominated its portfolio. But that doesn’t mean that CEO Scott White has a bearish outlook on institutional care going forward. “Definitively, there is a […]
The federal government has taken major steps over the last decade to reduce spending while also improving resident care, but a recent study finds that achieving the goal might not be so easy. A team of researchers led by Kathleen Carey of the Boston University School of Public Health found that quality gains at Veterans […]
Accountable care organizations (ACOs) need time to work out their growing pains before producing savings for the government, according to a new study from a top health care consulting firm — and a major assumption about risk might not actually be true. ACOs active for four years or longer accounted for just about all of […]
Welltower Offloads Broward County SNF for $15.4M Welltower Inc. (NYSE: WELL) recently sold the Heartland of Tamarac skilled nursing facility for $15.4 million, the South Florida Business Journal reported. The real estate investment trust offloaded the building to 5901 Tamarac LLC, a company associated with Millennium Management of Miami, according to the publication. The facility […]
White Oak Lands $33M Refinance for Granite Group White Oak Healthcare Finance this week announced the funding of a $33.2 million senior credit facility for Granite Investment Group; in turn, Granite used the funds to refinance a four-building skilled nursing portfolio in Texas. A subsidiary of White Oak Global Advisors, the health care finance firm […]
A top official accused the New York State Department of Health of performing insufficient inspections of nursing home equipment, recommending more in-depth surveys in the future. Health officials only look at very small samples of medical and generator equipment when performing inspections, according to a report issued this week by the office of New York comptroller […]
It may be slightly early to make a definitive declaration, but the rise of data could be the single most prominent trend in skilled nursing for 2018. From new payment models to preferred provider networks to consumer outreach, the importance of data has been a recurring theme at conferences and on earnings calls for the […]
Assisted living facilities have increasingly represented a viable alternative to skilled nursing for many older consumers, and a recent study found that the rise of lower-acuity senior housing has a direct impact on SNFs’ profit margins. The addition of every 10 assisted living beds — per 1,000 residents over the age of 65 in a […]
Skilled nursing providers have faced pressure to break into area hospitals’ top-tier referral groups — the increasingly select few deemed fit to manage acute care operators’ patient populations across the continuum. But when SNFs size up their competitors in their marketplaces, are they facing off for a slot in a hospital’s top five, or top […]
Multiple players across the skilled nursing industry have offered predictions as to when slumping occupancy figures will bottom out, and two prominent voices earlier this month declared that the bottom may be upon us. “I think we’re probably at around the trough,” Sabra Health Care REIT (Nasdaq: SBRA) chief investment officer Talya Nevo-Hacohen said during […]
Hurricane Florence prompted skilled nursing evacuations throughout the Eastern seaboard, and the Centers for Medicare & Medicaid Services (CMS) this week issued a series of emergency orders to alleviate the pressure on operators and beneficiaries as they weather the storm. Administrator Seema Verma formally waived the three-day hospital stay requirement for Medicare skilled nursing coverage […]
An affiliate of skilled nursing provider Centers Health Care paid a $1.65 million settlement to the New York State and federal governments over allegations that its managed Medicaid plan falsely billed for services. The Centers Plan for Healthy Living LLC submitted monthly state Medicaid claims of up to $4,300 per member for services that it […]
The skilled nursing industry set another record low in occupancy during the second quarter of 2018. Skilled nursing facilities were 81.7% full during the quarter, according to the most recent set of data from the National Investment Center for Seniors Housing & Care (NIC), down 79 basis points from the first quarter and 137 basis […]
Last week, two leaders of the powerful House Ways and Means Committee — chairman Kevin Brady and health subcommittee chairman Peter Roskam — called on the Centers for Medicare & Medicaid Services (CMS) to slash red tape for skilled nursing and other long-term care providers. “There is a real opportunity to get red tape out […]
CareTrust Picks Up Former Non-Profit CareTrust REIT (Nasdaq: CTRE) last week announced the purchase of the Villas at Saratoga, a senior living community with 85 skilled nursing beds and 37 assisted living units in Saratoga, Calif. — a city to the southwest of San Jose. CareTrust will invest about $19 million in the property, including […]
A major financial ratings service released an overall stable outlook for the continuing care retirement community (CCRC) market over the coming year, but expressed nagging doubts about the effects of skilled nursing on the industry’s overall health. For the sixth consecutive year, Fitch Ratings issued a “stable” credit rating projection for the CCRC sector, which […]
Representatives from the federal agencies that oversee skilled nursing agencies faced pointed questions from lawmakers on Capitol Hill on Thursday morning, with many expressing frustration with recurring resident safety issues. “We do this over and over again, but yet one-third of Medicare residents have experienced harm,” Rep. Diana DeGette, a Colorado Democrat, said during a […]
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