National Health Investors (NYSE: NHI) has collected 82.7% of tenant rent for November, with deferrals still in place for at least one of its tenants through the next several months. Bickford Senior Living, one of NHI’s seniors housing operators receiving rent deferrals, makes up 3.8% of the remaining balance for the month, the real estate […]
Although it’s been difficult to bring consistent data to the table, dealmaking in the skilled nursing space continues to be lucrative for both the buyer and seller. Matthew Alley, managing director at Senior Living Investment Brokerage (SLIB), says SNF market data from 2020 and 2021 will be considered ‘outliers’ in a few years, but that’s […]
The U.S. District Court for the Eastern District of Missouri on Monday issued a preliminary injunction against the Biden administration’s COVID-19 vaccine mandate, blocking the requirement for health care workers in 10 states. Nursing homes in Missouri, Nebraska, Arkansas, Kansas, Iowa, Wyoming, Alaska, South Dakota, North Dakota and New Hampshire won’t have to adhere to […]
The Centers for Medicare and Medicaid Services (CMS) is working on developing vaccine mandate guidance for surveyors, the government agency said during a stakeholder call last week. While the guidance is forthcoming, CMS is placing responsibility on state agencies to conduct safe surveys. Guidance will be relevant to surveyors within CMS, state surveyors and “non-nursing […]
A Florida federal judge will not temporarily pause the Centers for Medicare and Medicaid Services (CMS) vaccine mandate while the case is being litigated. This is the first time the CMS requirement for health care workers, including nursing home staff, has been weighed in on by the courts. Florida officials asked a U.S. District Court […]
New York Assembly investigative findings — released publicly Monday regarding former Gov. Andrew Cuomo’s conduct in office — confirmed a statewide underreporting of nursing home resident deaths tied to COVID-19. COVID-19-related nursing home deaths that occurred “for a period of approximately two weeks in April and/or May 2020,” reported after 5 p.m. each day, were […]
Skilled nursing facilities may not receive their much-needed Phase 4 disbursement of Provider Relief Funds (PRF) until the new year, with disbursements delayed through January, the Health Resources and Services Administration (HRSA) said. Originally, skilled nursing operators expected to receive Phase 4 payments between mid-November and mid-December — and that timeframe has shifted to include […]
Nursing home-initiated discharges require a closer look as “inappropriate discharges” may be on the rise, according to a report released by the Office of the Inspector General (OIG) and U.S. Department of Health and Human Services (HHS). Overall, OIG isn’t aware of how many residents have experienced facility-initiated discharges from nursing homes, much less which […]
Private equity acquisition of nursing homes is tied to increases in emergency room visits, hospitalizations and higher Medicare costs, according to a recently published JAMA Health Forum study. The study found PE firm-owned nursing homes were 11.1% more likely to have an acute coronary syndrome (ACS) emergency department (ED) visit and 8.7% more likely to […]
Former ProMedica Senior Care President David Parker took on a new role at Optum this summer, putting his 30-plus years in skilled nursing executive leadership to good use as vice president of strategy for its complex care management division. Optum is the care delivery arm of UnitedHealth Group, and has offered value-based care plans for […]
The head of the nation’s largest lobbying and trade group for nursing homes called out two ‘unfunded mandates’ included in the Biden administration’s Build Back Better Act — mandatory minimum staffing and 24-hour registered nurse (RN) oversight in nursing homes — arguing both will cause unnecessary strain on an already employee beleaguered industry. During a […]
As federal stimulus payments slow at this point in the pandemic, ProMedica reported a $101.4 million operating loss for the first nine months of the year — with a $23.5 million loss for the third financial quarter alone. During the first nine months of 2020, the Toledo, Ohio-based operator said it had $168 million in […]
Aggressive corrective actions taken by the Centers for Medicare & Medicaid Services (CMS) led to a $20.72 billion reduction in Medicare Fee-for-Service (FFS) improper payments over seven years, the entity announced late Monday — for skilled nursing facilities, insufficient documentation was the primary reason for improper payments. Despite an overall reduction since 2014 lauded by […]
The future of skilled nursing facility construction and transactions is tied up in state licensing procedures like certificate of need (CON) approvals, with some operators at a standstill due to application backlog during the early months of the pandemic. A backup of applications, which are required in several states to build any health care building […]
The Centers for Medicare and Medicaid Services (CMS) on Friday issued two updates regarding survey and visitation guidance — steps to address the backlog of complaint and recertification surveys, and revising visitation to include “all residents at all times.” CMS said it will assist state survey agencies (SAs) with resuming surveys that took a backseat […]
Invesque Inc. (TSE: IVQ.U) during its third quarter earnings call highlighted a continued shift to a majority private pay, seniors housing portfolio from when the company first announced its IPO five years ago, diminishing its skilled nursing assets in the process. When the Carmel, Ind.-based company went public in June 2016, skilled nursing made up […]
Five states are making efforts to improve financial transparency among skilled nursing facilities, in some cases requiring financial records to be accessible to the public and in other cases dictating where revenue can go, to ensure funds are going to residents first. For some compliance experts, the timing is right to shine a light on […]
Diversicare Healthcare Services (OTCQX: DVCR) published its earnings details on Tuesday, reporting a net loss from continuing operations at -$2.9 million, or -43 cents per share in the third quarter. During the third quarter of 2020, Diversicare reported a net income of $3.2 million from operations, or 48 cents per share. The Brentwood, Tenn.-based skilled […]
National Health Investors Inc. (NYSE: NHI) CEO Eric Mendelsohn said its skilled nursing operators serve as a “blueprint” for long-term stability and growth at this point in the pandemic, during a third quarter earnings call late Monday. NHI’s skilled portfolio represents 32% of its annualized cash revenue, with National Healthcare Corporation (NYSE: NHC) and the […]
CareTrust REIT (Nasdaq: CTRE) expects its skilled nursing assets to return to pre-pandemic occupancy by next summer, with continued recovery from the second to third financial quarter ending Sept. 30. About 60% of the real estate investment trust’s (REIT) skilled nursing operators are “within 90% of their pre-pandemic census or better,” David Sedgwick, president and […]
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