A landmark law in New York State could present additional challenges for skilled nursing providers, but major industry trade groups say that the potential benefits for residents could outweigh the staffing stress. Late last year, the Empire State passed a sweeping law that will require nurses to obtain Bachelor’s of Science in nursing degrees within […]
Now that the Senate’s compromise spending plan has become law, skilled nursing providers must figure out how to make do with fewer Medicare dollars over the next 10 years. The decline comes from a freeze in the Medicare market basket rate, which the new budget has set at 2.4% in fiscal 2019. The industry had […]
The Ensign Group (NASDAQ: ENSG) announced solid earnings for the fourth quarter of 2017 — and took a not-too-subtle shot at some of its competitors. The Mission Viejo, Calif.-based post-acute provider saw a 40.2% increase in revenues related to transitional and skilled nursing care from the fourth quarter of 2016, along with gains in occupancy […]
UPDATE: The Senate’s spending bill has passed both houses of Congress, and President Trump signed it into law Friday morning. Should the Senate’s attempt at passing a two-year budget succeed, skilled nursing operators could be in for another serious financial hit. “We are disappointed that the Senate budget proposal includes a $2 billion cut to […]
Skilled nursing woes rank high on non-profit senior living executives’ list of worries for the coming year. The Chicago-based specialty investment bank Ziegler asked 160 chief financial officers — along with other financial professionals — in the non-profit senior living space to find out what’s keeping them up at night. After the usual suspects of […]
Both the House and the Senate proposals to keep the government open and funded include a repeal of the controversial cap on Medicare-funded therapy services. Long opposed by the skilled nursing and physical therapy industries, the rule placed a $2,010 cap on therapy services for Medicare recipients. While Congress had routinely granted exemptions to the caps, those […]
Just when it seemed like the skilled nursing industry had enough potential issues on its plate for 2018 — potential cuts to Medicaid and Medicare, ongoing reimbursement pressures, and staffing woes — the historically healthy stock market took a major tumble. Sabra Health Care REIT (NASDAQ: SBRA), Ventas Inc. (NYSE: VTR), and other health care […]
A shortage of well-qualified nurses and other frontline staff remains one of the major headaches for nursing home operators and investors around the country. Earlier this month, one state came up with a solution that’s getting bipartisan support: allowing community colleges to offer bachelor’s of science in nursing degrees (BSN). “There’s such a severe shortage […]
Kindred Healthcare, Inc. (NYSE: KND) elected to exit the skilled nursing space last year due to industry headwinds, but the provider is still cautioning that the wind might not necessarily be at its back going forward. In a Monday presentation to investors, the Louisville, Ky.-based company cited low reimbursements, labor cost pressures, and the potential […]
More than 60 skilled nursing facilities across six states have new operators after a major real estate investment trust (REIT) decided to make a change. The portfolio stretches across six states in the Midwest and Pacific Northwest, with a total of 5,500 beds, according to Cascade Capital Group, which facilitated the deal. The identity of […]
As we enter another week, take a minute to catch up with some of the biggest skilled nursing stories from around the internet and the world. Immigration pressures The New York Times explored the effects of the Trump administration’s immigration policies on the long-term care industry, in particular shining a light on the so-called “gray […]
Consumers are using the Five-Star Quality Rating System to make decisions about skilled nursing care — and there could be a major financial incentive for providers to earn that extra star. Adding a single star to a skilled nursing facility’s rating from the Centers for Medicare & Medicaid Services (CMS) boosts admissions in many cases, […]
After months of extensions, HCR ManorCare has finally responded to a receivership claim from its landlord — and the provider seeks to have the case dismissed. Quality Care Properties, Inc. (NYSE: QCP) announced early Tuesday that tenant ManorCare had filed a motion to dismiss “certain claims in the receivership complaint,” according to a filing with […]
On first glance, the Department of Health and Human Services’ new guidance on personal religious beliefs might not appear to affect the long-term care industry. Years from now, however, it could play an integral role in the way SNFs operate and staff facilities. When the government rolled out its two-pronged approach last week — establishing […]
After a combative confirmation process, the United States Senate has confirmed Alex Azar as the second Department of Health and Human Services secretary in the Trump administration. Azar, a former pharmaceutical executive with Eli Lilly & Co., received a 55-43 vote of support from the U.S. Senate, with six Democrats defecting from the pack to […]
The long-term care industry dodged a bullet this week with a short government shutdown, but the fate of a federal budget still hinges on Congress reaching consensus over immigration — another issue that could have an outsized impact on the skilled nursing space. Should Congressional Republicans attempt to clamp down on legal immigration and the so-called […]
Skilled nursing operators are facing increased incentives to collaborate with providers across the care continuum, and electronic health record (EHR) software is often identified as a potential solution. But such a strategy can only work if every provider in a given chain of care uses the same software, which can create barriers both for SNFs […]
Creating a comfortable, familiar atmosphere for residents with dementia and other memory issues remains an ongoing challenge for many skilled nursing providers — but for one operator in Germany, the task required skills more typically associated with museum curators than health providers. The AlexA Residence for Senior Citizens in Dresden collected artifacts from the German […]
Though the federal government officially shut down early Saturday morning, skilled nursing and other long-term care operators have little reason to worry about reimbursements — at least for the time being. Medicare and Veterans Affairs-related reimbursements must continue even if the government suspends discretionary spending, as these programs are mandatory. In addition, because state governments […]
Citing a collaborative revision process with the state government, a major long-term care (LTC) industry trade group has withdrawn its opposition to a Florida rule that would require the use of backup generators in skilled nursing facilities. LeadingAge Florida formally rescinded its objection to the Agency for Health Care Administration (AHCA)’s proposed rule last week, […]
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