Weekly Round-Up: Largest Philly Provider Exits City

In case you missed them the first time around, here’s some of the biggest stories from the world of skilled nursing this week, including a rapidly unfolding pas de deux between a major skilled nursing REIT and its largest tenant, less-than-stellar occupancy projections from NIC, and insights into cultivating a dynamic, multigenerational nursing staff. Quality […]

QCP Reaches Out to ManorCare Lenders Amid Potential Takeover

Quality Care Properties (NYSE: QCP) on Thursday reached out to HCR ManorCare’s lenders with a request for funding as it considers an equity takeover of its primary skilled nursing tenant. The Bethesda, Md.-based real estate investment trust (REIT) has disclosed that it is in talks with numerous stakeholders as it mulls acquiring ownership of the Toledo, […]

Skilled Nursing Occupancy Increased in Q1, But Trending Down

Occupancy at skilled nursing facilities rose 36 basis points from the fourth quarter of 2016 to the first quarter of 2017, but ended the quarter on a downward trend. SNFs had 82.6% occupancy in the first quarter of 2017, according to the latest Skilled Nursing Data Report from the National Investment Center for Seniors Housing […]

AARP: Medicaid to Dry Up for Seniors Under Trumpcare

The American Health Care Act would gradually constrict skilled nursing and other health providers’ ability to care for Medicaid patients over the coming decades, especially as the proportion of Medicaid recipients aged 85 and older increases, a new report from AARP alleges. The Washington, D.C.-based advocacy group’s concern stems from the AHCA’s mandate to shift […]

CDC Puts Providers on Alert for Deadly, Costly Disease

Skilled nursing facilities are a prime breeding ground for Legionnaires’ disease, and an outbreak could prove costly for the operator — both in terms of care outcomes and additional expenses — according to a recent presentation by the Centers for Disease Control and Prevention (CDC). The CDC analyzed 2015 data related to outbreaks of the potentially […]

SNF Transactions: Ensign Expands in Mountain West, CareTrust Enters N.M.

The Ensign Group Acquires SNFs in Idaho and Utah The Ensign Group (NASDAQ: ENSG) acquired the real estate and operations of three skilled nursing and one intermediate care facilities across Idaho and Utah: Meadow View Nursing and Rehabilitation, a 112-bed skilled nursing facility in Nampa, Idaho; Utah Valley Healthcare and Rehabilitation, a 99-bed skilled nursing facility in Provo, Utah; Heritage Park Healthcare and Rehabilitation, […]

N.Y. Post: HCR ManorCare CEO Demands $100 Million Payout

HCR ManorCare CEO Paul Ormond has asked for the immediate payment of a $100 million deferred settlement package stemming from a private equity takeover of the company back in 2007, according to a report in the New York Post. The Carlyle Group, a Washington, D.C.-based private equity firm, bought the Toledo, Ohio-based HCR ManorCare a decade ago […]

HCR ManorCare Falls Behind on Rent as Troubles Mount

HCR ManorCare failed to completely pay its June rent to primary landlord Quality Care Properties (NYSE: QCP), citing pressure from its secured lenders and decreased profit projections. One of the largest skilled nursing providers in the country, the Toledo, Ohio-based HCR ManorCare paid just $15 million of the $32 million it owed QCP for June rent, […]

NPR: State Regulators Cracking Down on Involuntary SNF Discharges

The Administration for Community Living logged more than 9,000 complaints about involuntary discharges from long-term care facility residents across the country in 2015, and now lawmakers are taking notice. In particular, officials in Maryland and Illinois have begun investigating discharge rates in their states, according to a recent report from NPR. Maryland Attorney General Brian […]

Omega Acquires 18 UK Facilities, Denies Issues with Signature

Omega Healthcare Investors, Inc. (NYSE: OHI) yesterday announced the acquisition of 18 care homes in the United Kingdom — and, in the same release, denied a recent report that it had hired a third-party advisor to assist with financial difficulties at properties operated by Signature Holdings II, LLC. The Hunt Valley, Md.-based skilled nursing REIT bought […]

LeadingAge Aims for Real-World Impact with UMass Research Center

Seeking real-world connections for its research into long-term services and supports (LTSS), LeadingAge looked past private colleges and recently partnered with the public University of Massachusetts Boston to create a center dedicated to exploring the future of LTSS programs. The new LeadingAge LTSS Center at UMass Boston will use the university’s graduate students and deep […]

SNF Transactions: KeyBank Invests in Indiana

KeyBank Invests $15.3M in Indiana Skilled Nursing Facilities KeyBank Real Estate Capital invested a total of $15.3 million in two skilled nursing facilities operated by Trilogy Health Services, LLC in Indiana, providing FHA-backed financing for the Trilogy-Prairie Lakes Health Campus in Noblesville and Trilogy-St. Mary Healthcare Center in Lafayette. KeyBank’s John Randolph and Laura Conway […]

CBO: 23 Million Would Lose Health Insurance Under House Bill

The Congressional Budget Office on Wednesday released its long-awaited score of the American Health Care Act, and the result remained striking for Americans who rely on Medicaid and other government programs to pay for health care. In the nonpartisan office’s estimation, 23 million Americans would lose health insurance by 2026 were the House bill, which […]

New Jewish Home Brings Hospital-Based Doctors into Manhattan SNF

Starting in August, The New Jewish Home will fully outsource the physician team at its Manhattan skilled nursing facility to the Mount Sinai Health System, further solidifying a partnership between the SNF operator and one of New York’s major hospital systems. The arrangement has been in the works since last year, when the SNF operator […]

Trump’s Budget Calls for Additional $610 Billion in Medicaid Cuts

Early reports indicated that President Trump’s budget proposal for the Department of Health and Human Services would take into account the American Health Care Act’s $800 billion in Medicaid cuts. As it turns out, the hypothetical effect of that yet-to-be-passed bill was only the beginning. In its 2018 HHS budget proposal, the Trump administration called for […]

WaPo: Big Medicaid Cuts Coming in Trump’s Proposed Budget

Citing sources familiar with its contents, the Washington Post claims that President Trump’s formal budget proposal will seek $800 billion in Medicaid cuts. The budget, expected sometime this week, will call for the Medicaid reductions to come over the next 10 years, the Post reported, and could potentially have substantial effects on the skilled nursing […]

MedPAC Official Presses Congress to Freeze SNF Payment Rates Through ’19

Reiterating its oft-repeated stance, the Medicare Payment Advisory Commission (MedPAC) once again asked Congress to put a hold on Medicare payment rates for skilled nursing facilities through the end of 2019, with an additional request for a full review in 2020. In remarks before the House Ways and Means Committee on May 18, MedPAC Executive Director Mark […]

Survey: Managed Care Programs Shifting Patients Away from SNFs

Managed long-term services and support programs (MLTSS) bring a host of benefits to states, including better care outcomes and reduced spending — but could also shift more patients away from institutions to in-home or community programs, according to a new survey. The National Association of States United for Aging and Disabilities’ (NASUAD) MLTSS Institute sent […]

NIC: Skilled Nursing Transaction Volume Plummets in 2017

Nursing care transactions started 2017 substantially below their levels at the same point in 2016, despite overall senior housing industry gains. According to new data from the National Investment Center, nursing transactions totaled about $500 million during the first quarter of this year, or 77% less than the volume in the first quarter of 2016. That’s also […]