Shortages of key nursing home staffers, including nurses and aides, accelerated from May to December 2020, prompting one consumer watchdog to warn that the worst of the long-term care crisis may be yet to come. The total proportion of nursing homes reporting shortages in at least one staff category rose from 19.9% in May to […]
The attorney general of New York State on Thursday released a blistering report suggesting that COVID-19 deaths in the state’s nursing homes may have been undercounted by as much as 50%, while also describing an already insufficient staffing model collapsing under the pressure of the pandemic. A sample of 62 Empire State facilities showed that […]
The diversion of post-acute patients from skilled nursing facilities to the home was an established trend prior to the start of the coronavirus pandemic, which only accelerated the siphoning — and a top home health player had the numbers to prove it. Encompass Health Corporation (NYSE: EHC) finished 2020 with 2.2% growth in new episode […]
Occupancy at the nation’s nursing homes cratered during the COVID-19 pandemic, as hospitals suspended non-emergency surgeries and families looked to avoid institutional care settings for their loved ones at all costs. During the initial coronavirus wave last spring, leaders in the sector hoped that the second half of 2020 would bring a return to normalcy […]
Cushman & Wakefield earlier this month announced its involvement in a three-building, $118 million skilled nursing portfolio deal on behalf of Healthcare Trust, a non-public real estate investment trust (REIT) based in New York City. The real estate services firm kicked off the process with the successful sale of Lutz Healthcare and Rehab in Lutz, […]
The two retail pharmacy giants in charge of distributing COVID-19 vaccines to the vast majority of U.S. nursing homes asserted that the massive project remains on schedule as the first major deadline arrived on January 25, despite multiple reports of frustration in the sector. CVS Health (NYSE: CVS) on Monday announced the completion of the […]
Credit Suisse has downgraded its outlook for nursing home heavyweight Genesis HealthCare (NYSE: GEN), citing low occupancy, a looming debt burden, and continued uncertainty around future government support. Analysts bumped the Kennett Square, Pa.-based chain’s stock from “neutral” to “underperform” in a research note published late last week. In particular, Credit Suisse expressed concerns about […]
After the physical health and safety of residents and workers, the prospect of normal visitation looms as the top promise of a smooth rollout of COVID-19 vaccines to the nation’s nursing homes. But operators will likely not make any moves until they’re given the all-clear by state and federal regulators, with a significant percentage planning […]
On its second day in office, the Biden administration vowed to provide financial and logistical support to the nation’s embattled nursing homes as part of a larger COVID-19 game plan released Thursday, while also hinting at stronger rules and regulations around infection control. The 200-page “National Strategy for the COVID-19 Response and Pandemic Preparedness” lays […]
In the midst of a devastating pandemic, the nation’s nursing homes lost 264,000 jobs over the course of 2020, even as the health care sector at large bounced back to nearly pre-COVID levels. That figure represents a 7.8% drop for nursing facilities and other residential care settings between February and December 2020, according to an […]
The new Biden administration has tapped Liz Richter to lead the Centers for Medicare & Medicaid Services (CMS) on an interim basis during the presidential transition. The agency’s website currently lists Richter, who has worked at CMS in various capacities since 1990, as acting administrator. She succeeds outgoing administrator Seema Verma, who on Wednesday resigned […]
When I was 23 years old, my mother died unexpectedly of a massive stroke in her sleep. She was only 62, and there was no warning. One day we were talking on the phone about Christmas plans, and the next I was giving a police officer permission to break into my childhood home for a […]
An accountable care organization (ACO) backed by one of the nation’s largest nursing home providers on Tuesday announced a deal to expand telehealth services to its members in a push to cut hospitalizations and boost clinical coverage — during and after the COVID-19 pandemic. Under the new agreement, the skilled nursing tech provider Third Eye […]
With a combination of strong federal relief and a seemingly safe place in the wider health care continuum, skilled nursing facilities have repeatedly emerged as bright spots in an otherwise hazy financial outlook for players in the senior housing and care sector. Fitch Ratings on Tuesday added to that trend in awarding a BBB- rating […]
The federal government on Friday issued a formal delay of its reporting requirements for health care providers that received COVID-19 financial relief. The Department of Health and Human Services (HHS) had originally set January 15 as the opening date for its Provider Relief Fund reporting portal, with the first deadline set a month later on […]
Vaccinating the nation’s nursing home residents is taking longer than many have anticipated, and the family members of those in long-term care settings are certainly forgiven for being impatient: Locked away from their loved ones for months on end, residents and their families see a desperately needed light at the end of the tunnel as […]
The COVID-19 pandemic has rightfully prompted lawmakers at the state and federal level to reconsider the way government payers incentivize or discourage the use of nursing homes relative to other options, such as home- and community-based services (HCBS). But one prominent long-term care researcher this week warned against looking at the reform equation as a […]
As currently constructed, bed counts form the bedrock of nursing home finances. More beds mean more chances for reimbursement, more ways to fill a need for a hospital partner, more opportunities to offset fixed expenses. But more beds also mean a greater risk for COVID-19 infection, more logistical challenges for cohorting and staff separation, and […]
Net Health, a Pittsburgh-based health care software provider, on Tuesday announced its acquisition of skilled nursing data firm PointRight. PointRight — which provides data analytics services to about 2,400 long-term and post-acute care providers, along with hospitals, accountable care organizations, and landlords — will help to enlarge Net Health’s growing footprint in the skilled nursing […]
The Chicago-based Cambridge Realty Capital announced a host of skilled nursing deal closings completed during the fourth quarter of 2020, bringing the lender’s total to $415 million for the year. The largest of those transactions involved $16.9 million for Manor Court* of Peru, Ill., a campus with 94 skilled beds, 68 assisted living units, and […]
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