Evans Senior Investments (ESI) assisted in the sale of a large Florida skilled nursing community. Built in the 1960s, the 200+ bed facility features semi-private or three bed wards. The community was operating at a loss at the time of marketing with occupancy at 41%, according to a news release. Prior to the pandemic, the […]
The toughest rival nursing homes face amid this historic staffing shortage may be one another. While there have been some gains in recent months, the number of workers in long-term care is still far below pre-pandemic levels. With only a finite number of nurses in the worker pool to choose from, nursing homes are inevitably […]
A number of new partnerships have formed between health systems and skilled nursing facilities centered on offering consumers access to new services or services that require specialized skill sets. “A high-performing SNF is a critical ally for health systems, particularly those that are focused on performance in value-based care arrangements or looking to enable earlier […]
Providers are staring down yet another slash to their bottom lines as the federal government last week proposed reductions to Medicare reimbursement for various Part B therapy services. Early assessments of the 2023 Medicare Physician Fee Schedule Proposed Rule have found that cuts could fall between 4 to 4.5%, according to Mark Besch, senior specialist […]
If there’s one financial backing source that’s become a favorite among nursing home owners it’s U.S. Department of Housing and Urban Development (HUD) funding. Even still, it may come with some limitations. HUD loans can be used to purchase, build, refinance or remodel nursing homes, among other health care facilities, and their utilization in the […]
Specialty investment bank Ziegler closed on Series 2022A Bonds for Ohio-based not-for-profit senior care provider Eliza Jennings. Eliza Jennings owns and operates three senior living campuses with a combined total of 216 skilled nursing beds, 175 independent living apartments and villas and 89 assisted living units. The Renaissance, located on 88 acres in Olmsted Falls, […]
Some lawmakers are listening to calls for help from the nursing home industry, at least at the state level. Pennsylvania Governor Tom Wolf recently approved a Medicaid reimbursement increase of 17.5% for the state’s nursing homes for next year, translating to an increase of around $35 per resident per day. The increase to the state’s […]
An estimated 72% of New York’s 394 for-profit nursing homes do business with companies that have common or overlapping ownership, a recent report from the Empire Center for Public Policy reveals. The report showed that payments from for-profit nursing homes to these related companies totaled almost $1.1 billion, or 16% of their total expense for […]
The investment will be used to deepen the company’s presence in California, Ohio and Texas, in addition to expanding into other markets, according to a news release. CareConnectMD provides primary and palliative care to high-risk populations in care environments such as the home and skilled nursing facilities. CareConnectMD is currently one of only eight high-needs […]
The Ensign Group (Nasdaq: ENSG) and its captive real estate company Standard Bearer are off to a busy start in July, adding five skilled nursing facilities and one campus to its operations and five real estate assets to the portfolio. These transactions bring the total number of acquisitions in 2022 to 21, the company’s fastest […]
Infection preventionists are more than just an afterthought for nursing homes in 2022. The important role they play in day-to-day operations for skilled nursing facilities is one of the many lessons operators have learned over the course of Covid. But as staffing shortages continue to hurt the industry, operators have had to get creative with […]
A portfolio of 17 existing skilled nursing facilities in West Virginia changed hands this week in a $582 million deal involving a joint venture between a skilled nursing real estate owner and a large regional operator of post-acute facilities. Ohio-based CommuniCare Health Services took over operations of Stonerise, expanding the company’s reach in its home […]
Some healthy competition may be good for nursing home providers. At least that’s what Kevin Griffith, assistant professor in the Department of Health Policy at Vanderbilt University Medical Center and an investigator at the Partnered Evidence-based Policy Resource Center, found when looking at hospital discharge patterns. In a study published in Health Affairs this month, […]
While establishing stronger staffing standards for nursing homes continues to be a top priority in the minds of federal leaders, few in the industry see it as a viable or sustainable path forward. Given the current staffing climate, with the long-term care workforce down an estimated 15% since the start of the pandemic, any newly […]
With the Biden administration looking to possibly clamp down on the role private equity and real estate investment trusts play in the nursing home industry, CareTrust REIT (NYSE: CTRE) CEO David Sedgwick says the company is poised for continued growth in the sector. “We never took our foot off the pedal of acquisitions since Covid […]
The role of infection preventionist in long-term and post-acute care has dramatically changed over the course of Covid. University of Michigan researchers found that while preventionists’ time spent on infection prevention-related tasks nearly doubled – from an average of 20 hours per week to 38 hours per week – they saw little reduction in their […]
LeadingAge does not think the Biden Administration is putting its money where its mouth is when it comes to long-term care in this country. In a letter sent to Department of Health and Human Services Secretary Xaiver Becerra, LeadingAge CEO and President Katie Smith Sloan expressed “deep concerns” about some of the actions the agency […]
Capital Funding Group announced it closed a $135 million bridge loan for the refinancing and dividend recapitalization of a 9-facility portfolio across Maryland, Georgia and West Virginia. The portfolio features 1,448 beds and is reportedly owned by an industry-leading owner of SNFs. “We’re excited to continue this year’s momentum with the closing of another stand […]
As critical staffing shortages are leading some operators to rethink how and where their MDS documentation needs to be completed, turnover at the MDS coordinator role continues to hamper providers and their ability to capitalize on clinical reimbursement. In a survey of about 500 SNF professionals, as many as 60% of respondents said they had […]
A judge approved Gulf Coast Health Care’s modified Chapter 11 liquidation plan this week. This was the second amended joint plan the company submitted after the first one was rejected. The original plan was reportedly rejected for not meeting its burden to sign away creditors’ claims against third parties. The new plan provides at least […]