Senate Republicans scuttled their most recent attempt to pass health care reform legislation after several members announced their opposition to the bill, putting proposed Obamacare replacement on hold — and prompting skilled nursing operators and advocates to breathe a temporary sigh of relief. “We appreciate the Senators that hit the pause button on this debate,” […]
Retaining a staff of talented, motivated employees has remained one of the most vexing problems for skilled nursing operators, as a recovering economy has drastically increased the competition for the best workers. One SNF provider has successfully turned to a clear organizational structure for an answer, while some other senior housing providers have taken even more novel approaches, according […]
The Carlyle Group has begun the process of selling off Alloheim, a German chain of nursing homes that the private equity firm initially acquired in 2013, according to a recent report. Unnamed sources told Reuters that the Washington, D.C.-based Carlyle could seek up to $1.1 billion for the 155-facility nursing home chain, which employs 14,500 […]
The dollar value of long-term care (LTC) facility transactions ballooned by nearly 300% in the second quarter of 2017, even as the absolute number declined. LTC facilities commanded a total of $9.7 billion in the second quarter of 2017, a 299% increase from the $2.4 billion that changed hands in the second quarter of 2016 […]
In case you missed it, here’s a look at the past week in skilled nursing news, from a potential final showdown between a major provider and its landlord to a peek into the highest-paid executives in the business. Today’s the day for HCR ManorCare, Inc. to pay the back rent it owes Quality Care Properties, […]
Just as experts predicted, occupancy rates for nursing facilities declined between the first and second quarters of 2017. Nursing care facilities were 86.5% full in the second quarter, according to the most recent figures from the National Investment Center for Seniors Housing & Care (NIC). That’s down from the 87.2% first-quarter figure presented in the […]
For-profit skilled nursing operators captured a gradually larger share of the United States SNF market from 2009 and 2015, while non-profits increasingly ceded ground to governments. In 2015, for-profits accounted for 68.4% of the nation’s 15,583 certified nursing facilities, according to a Tuesday report from the Kaiser Family Foundation. That’s compared to a 23.8% share […]
At first, the conclusion seems obvious: Hospitals that sink more money into post-acute services provide better care to patients than their lower-spending counterparts. But those findings, released this week by researchers at the Massachusetts Institute of Technology, have stark implications for skilled nursing providers. “We find that patients who go to hospitals that rely more […]
As ongoing Obamacare repeal efforts cloud the future of Medicaid, a bipartisan pair of representatives introduced a bill they claim will help strengthen Medicare Advantage access for the most vulnerable seniors. H.R. 3168 would reauthorize Medicare Special Needs Plans, which are generally restricted to recipients who need institutional care, must manage chronic illnesses, or qualify for […]
Using the money it had already set aside for annual capital improvements, an upstate New York skilled nursing provider decided to bet big on a conversion to the “small house” model — and now it has some solid metrics to show for it, including an impressive jump in the proportion of private-pay residents. About 10 years […]
Quality Care Properties, Inc. (NYSE: QCP) on Monday issued an ultimatum to HCR ManorCare, Inc., its primary skilled nursing tenant: Pay the nearly $80 million in back rent that you owe, or you’ll be on the hook for a whole lot more. The Bethesda, Md.-based real estate investment trust (REIT) issued a notice of default […]
It’s the end of a holiday-shortened week, but the days off didn’t stop a wave of SNF news. In case you’ve been enjoying some extra time away from the office, here’s what you missed. We continued to untangle the strands in Kindred’s deal to exit the SNF business, a blockbuster transaction that’s worth $700 million, $910 […]
When Kindred Healthcare (NYSE: KND) finalized a blockbuster deal to sell its SNF portfolio for $700 million in cash at the start of the holiday weekend, the post-acute giant may have been making a long-term bet with significant upfront costs. Much of the $210 million that Kindred expects to net from the deal will come from […]
Skilled nursing operator HCR ManorCare, Inc. missed another rent payment, the latest milestone in a long-developing conflict with its landlord, Quality Care Properties, Inc. (NYSE: QCP). QCP, the real estate investment trust (REIT) that serves as ManorCare’s primary landlord, announced Wednesday that the provider had missed its July 3 rent deadline as attempts to restructure […]
Last month, the Centers for Disease Control and Prevention issued a warning to skilled nursing operators and other health care providers about the dangers of Legionnaires’ disease, an airborne illness that can claim lives — and costs operators hundreds of millions of dollars annually. Advances in skilled nursing facility design have made disease prevention easier for […]
You’ve made it to the Friday ahead of a long holiday weekend! Whether you’re still in the office or checking this on a phone from a beach, lakefront, or park, all of us at Skilled Nursing News would like to wish you a happy and safe July 4 weekend. Our headquarters in Chicago will be […]
The House of Representatives on Wednesday passed a bill that would limit skilled nursing and other health care providers’ liability in malpractice cases, prompting praise from industry groups but concern from patient advocates. The Protecting Access to Care Act of 2017 would establish federal statutes of limitation on lawsuits stemming from injuries incurred at any […]
Various health care agencies and groups have expressed concerns over the effects of Obamacare repeal on Americans’ access to skilled nursing care, as well as the ongoing viability of SNFs as a business amid steep Medicaid cuts. At least one commentator also claims that the GOP health plans could lead to a return to the […]
Flying in the face of “contrarian” analysts who “signed its death certificate,” the skilled nursing industry continues to attract attention and dollars from investors, with per-bed prices tripling since 2003, a new report states. The median SNF sold for $94,600 per bed in 2016, a gain of 42% from 2015, according to a report released Wednesday by Irving […]
Faced with growing dissent from both the conservative and moderate wings of his own party, Senate Majority Leader Mitch McConnell delayed a vote on the Republican plan to repeal and replace Obamacare — one day after the Congressional Budget Office foresaw a dark future for Medicaid under the bill. McConnell announced Tuesday that the Senate would […]
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