Quality Care Properties (NYSE: QCP) may have found a more attractive suitor than its current potential buyers. The Bethesda, Md.-based real estate investment trust (REIT) on Tuesday announced that it had received a potentially better takeover offer than the one currently on the table from fellow REIT Welltower Inc. (NYSE: WELL) and non-profit hospital system […]
Providers that have learned to navigate the Medicare Advantage ecosystem will likely have a leg up when approaching the new payment model for skilled nursing facilities, but many questions still remain about how managed care plans will adapt under the coming system. The Patient-Driven Payment Model (PDPM) reflects an ongoing push toward rewarding therapy providers […]
Welltower Inc. (NYSE: WELL) CEO Tom DeRosa on Wednesday offered a spirited defense of his company’s recent skilled nursing mega-deal, saying the transaction will help save HCR ManorCare from its former private equity owners. “These are very good assets — great real estate that’s been run by a very effective management team with one hand […]
Health and Human Services Secretary Alex Azar on Tuesday trumpeted the new payment model for skilled nursing facilities in a speech before a prominent trade group, positioning the plan as one piece of a larger change in the way the government pays for health care. The new Patient-Driven Payment Model (PDPM) incorporates the dual goals […]
Sabra Health Care REIT (Nasdaq: SBRA) on Monday announced the sale of 20 total buildings as its so-called “Genesis Exodus” nears completion. The Irvine, Calif.-based real estate investment trust (REIT) closed on the sale of 12 more properties operated by Genesis Healthcare (NYSE: GEN) last Friday, with a total price tag of $134 million. That […]
The shifting skilled nursing landscape has forced the major real estate investment trusts (REITs) to change their game plans — and led some industry-watchers to question whether their time is coming to a close. But there’s still a role REITs can play in the long-term care space, an industry that might actually be more attractive than the far […]
A group of 17 state attorneys general this week asked the Centers for Medicare & Medicaid Services to reconsider decisions they claim reduce federal oversight of nursing homes and put seniors at risk. The officials specifically took issue with CMS’s November 2017 decision to delay enforcement of the new Requirements of Participation (RoPs) for 18 […]
Embattled skilled nursing provider Preferred Care has asked a federal bankruptcy judge to approve a settlement regarding allegedly falsified Medicare and Medicaid claims. Settling the pair of federal whistleblower lawsuits, filed in 2016 and 2017, would help accelerate Preferred Care’s Chapter 11 bankruptcy process, the provider argued in a filing submitted last week. Westlaw Practitioner […]
While skilled nursing operators have increasingly faced stresses related to the ongoing shift to value-based care — primarily the threat of decreased reimbursements — at least one observer says the industry hasn’t seen anything yet. “You’re just entering the value-based dynamic right now,” Mountasser Kadrie, a health care management consultant, said during a presentation at […]
Temporary oversight of eight former Skyline Healthcare skilled nursing facilities in Pennsylvania has come to an end. The administration of Gov. Tom Wolf last Friday announced that the eight facilities had been sold to new owners, consisting primarily of private investors. “The Wolf administration would like to thank the employees, contractors, and others who have […]
County Nursing Home Sells for $11M Local lawmakers last week approved the sale of the Champaign County Nursing Home in Urbana, Ill. to a joint venture between Extended Care Clinical and Altitude Health Services. The sale price was $11 million, according to local news station WCIA, and the transaction is scheduled for completion by the […]
At a recent industry conference, I watched a pair of presenters show some fairly eye-opening statistics about workforce retention. The studies they cited weren’t health care-specific, but they did demonstrate that conventional wisdom about hiring — specifically, that years of experience and education correlate with strong job performance and retention — is wrong. In fact, they […]
The median number of skilled nursing units in continuing care retirement communities (CCRCs) has remained steady over the last five years, but a decline is coming as developers continue cut SNFs out of the equation. Among the nearly 2,000 CCRCs across the United States, there are a median of 72 skilled nursing units per site, […]
The state of Georgia this month implemented a new background check law for nursing home owners, who will now be subject to the same requirements as frontline caregivers and other employees who interact with residents. But the threshold for who qualifies as an owner remains unclear. Employees, owners, and administrators will be required to undergo fingerprint […]
Hiring and retaining talented skilled nursing employees remains one of the biggest challenges for operators in the industry, especially for key frontline nursing positions. Amid these pressures, hiring managers might be tempted to rely on their instincts when selecting from potential candidates — but two health care staffing experts say in many cases, conventional hiring […]
The state of New Mexico ranks at the bottom in terms of serious skilled nursing deficiencies per facility, according to a recent analysis conducted by a pair of news organizations. Out of the 74 facilities in the state certified by the Centers for Medicare & Medicaid Services, 36 had “serious deficiencies” between 2015 and 2018, […]
Welltower, Inc. (NYSE: WELL) on Monday provided a brief update to shareholders on the company’s coming acquisition of Quality Care Properties (NYSE: QCP), the real estate investment trust (REIT) primarily associated with struggling skilled nursing provider HCR ManorCare. The update, submitted as a filing with the Securities and Exchange Commission, affirms Welltower’s commitment to ProMedica, […]
As skilled nursing operators continue to deal with tight reimbursements and high labor costs, financial performance on the individual facility level has taken on greater and greater importance — and having a defined plan is key to success. “It doesn’t matter how much revenue you generate, or how much census goes up, if you don’t […]
The state of Vermont recently enacted sweeping changes to the way government officials regulate the nursing home industry, with an eye on scrutinizing out-of-state buyers. Starting July 1, the state’s Agency of Human Services will oversee all nursing home ownership transfers, taking over the responsibility from the Green Mountain Care Board, according to a Thursday […]
The notion that older Americans are driving up health care costs, specifically toward the end of their lives, has become something of a truism in the health policy world. But a new study from Dartmouth has shown that Medicare spending on Americans in their final years actually dropped in the early stretch of this decade. […]
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