Posts by Elizabeth Jakaitis:

  • Skilled Nursing Transactions: Strawberry Fields Picks Up Louisville SNF

    Sep 14 2017

    Ohio Skilled Nursing Facility Sold for $7.5M An Ohio skilled nursing facility (SNF) is under new management after being sold for $7.5 million by Kettering Health Network, a hospital system based in Dayton, Ohio, the Dayton Daily News reported. The former Greene Oaks Retirement Center, now called Harmony Center for Rehabilitation & Healing, was purchased by Read More

  • Employees at Small SNFs Take Away More from Training

    Sep 12 2017

    Despite often having fewer resources, smaller skilled nursing facilities (SNFs) know how to help their staff make the most of the training they receive—more so than their larger SNF counterparts. Though larger facilities tend to have more sophisticated training technology, small facilities have strong methods for evaluating whether skills taught during training are being applied Read More

  • The Five Traits of a Successful SNF Administrator — And How To Recruit One

    Sep 07 2017

    Staffing challenges continue to torment skilled nursing facilities (SNFs), and not just at the caregiving level. Often, broader issues within a SNF are traced back to high turnover at the administrative level. As a result, SNF hiring managers should be thinking more critically about attracting the right candidates who will positively impact the facility. “It’s Read More

  • Skilled Nursing Transactions: CareTrust REIT Expands in Four States

    Sep 06 2017

    Capital One Provides $16.3 Million Loan to Refinance PruittHealth SNF Portfolio  Capital One announced that it provided a $16.3 million loan to PruittHealth to refinance a portfolio of three skilled nursing facilities (SNFs) and an intermediate care facility for individuals with developmental disabilities (ICF-MR) in Georgia, as well as a SNF in North Carolina. Four Read More

  • Preferred SNF Networks Reduce Readmissions, But Do They Prevent Choice?

    Sep 05 2017

    Hospitals that develop preferred provider networks of skilled nursing facilities (SNFs) are seeing lower readmission rates over time than those that don’t. However, establishing these networks does not come without roadblocks. In a recent study published by Health Affairs, a peer-reviewed health care journal, four hospitals with preferred SNF networks were monitored from 2009 to Read More

  • OIG Audit Reveals Inadequate Abuse Protections for Skilled Nursing Residents

    Aug 28 2017

    Abuses at skilled nursing facilities frequently go unreported, the Department of Health and Human Services (HHS) determined in a new report that also accused the Centers for Medicare & Medicaid Services (CMS) of not doing enough to protect residents. HHS’s Office of the Inspector General (OIG) reviewed the emergency room records for 134 Medicare beneficiaries with any Read More

  • Skilled Nursing Transactions: $41.1 Million Mortgage for Northwest Provider

    Aug 25 2017

    Capital One Closes $41.1 Million Mortgage for Pacific Northwest SNF Provider Capital One provided a $41.1 million first mortgage and a $5 million senior credit facility for Prestige Care, a Vancouver, Wash.-based provider of skilled nursing, memory care, assisted living, and independent living communities, the lender announced. Prestige Care will use the loan to purchase Read More

  • Amid Turmoil, Does Skilled Nursing Have a Future in REITs?

    Aug 22 2017

    Conflicts between major real estate investment trusts (REITs) and their skilled nursing tenants have dominated industry headlines in recent weeks. Quality Care Properties (NYSE: QCP) continues to seek relief amid its primary tenant HCR ManorCare’s failure to pay rent, while shareholders of Sabra Healthcare REIT, Inc. (NASDAQ: SBRA) attempted to derail its acquisition of the SNF-heavy Read More

  • [UPDATED] As Receivership Looms, ManorCare DOJ Case Moves Forward

    Aug 21 2017

    As Quality Care Properties (NYSE: QCP) seeks receivership for HCR ManorCare properties, a date has been set for the False Claims Act case against ManorCare for allegedly providing unnecessary therapy services to residents and billing to Medicare. The trial date has been set for January 22, 2018 and is likely to result in a settlement, Read More

  • Transactions: Summit Snags Nine SNFs in Northeast

    Aug 17 2017

    Summit Healthcare REIT Acquires Interest in 9 Northeast SNFs Summit Healthcare REIT, Inc. acquired an interest in nine Northeast skilled nursing facilities for $60 million, the Lake Forest, Calif.-based Summit announced in a press release. The facilities, with a total of 1,285 beds, will be leased back to the existing operator. The purchase was made through Read More

  • Telemedicine Could Hold Answer to Lower Hospital Readmission Rates for SNFs

    Aug 17 2017

    As skilled nursing facilities feel the pressure to reduce readmission rates and manage costs, recent studies point to a technology that SNFs can outsource to achieve both. Telemedicine, which connects specialized doctors with skilled nursing residents through video conferencing, prevents unnecessary transfers from SNFs to hospitals, according to a recent study by the TRECS Institute Read More

  • SNFs Must Find Their Place in New Payment Models to Last

    Aug 14 2017

    It’s no secret that the skilled nursing industry has been on the rocks in recent years. Large operators have sold off their SNF offerings, while mom-and-pop facilities struggle to stay afloat. Still, SNFs offer a vital service that is not largely found elsewhere — long-term and post-acute care, particularly for those that rely on Medicaid Read More

  • Transactions: Texas Skilled Nursing Portfolio Lands $27.6 Million in Financing

    Aug 10 2017

    Texas SNFs Receive $27.6 Million in Financing Hunt Mortgage Group, a national commercial real estate financing firm, provided a $27.6 million loan to Senior Living Properties, LLC to refinance eight Texas skilled nursing facilities. The loan was arranged through the HUD LEAN program, which finances senior housing properties. The Fort Worth, Texas, HUD office that Read More

  • Skilled Nursing Arbitration Agreements Likely to Be Reinstated

    Aug 09 2017

    Politicians, district attorneys and even celebrities are up in arms over the Trump administration’s plan to reinstate skilled nursing arbitration agreements, which critics say unfairly limit patients’ rights. However, an arbitration ban stands in direct violation of a Supreme Court ruling and is unlikely to stand, according to an attorney specializing in health law. When Read More

  • Critics of Plan to Reinstate SNF Arbitration Agreements Attack Trump, CMS

    Aug 07 2017

    As the deadline for public comment approached, politicians and advocacy groups lodged strong objections to the Trump administration’s proposal to overturn Obama-era regulations that protect residents’ ability to sue skilled nursing facilities. The Centers for Medicare & Medicaid Services (CMS) issued a rule in 2016 that prevents SNFs that receive Medicare or Medicaid funds from including “no sue” clauses in Read More

  • Immigration Bill Could Compound Skilled Nursing Workforce Woes

    Aug 03 2017

    A new bill that would curtail immigration could cut off a key solution to the growing skilled nursing workforce crisis. The Reforming American Immigration for a Strong Economy (RAISE) Act, co-authored by Republican Sens. Tom Cotton of Arkansas and David Perdue of Louisiana and supported by President Trump, could result in a 50% reduction in Read More

  • Independent Proxy Firm Calls for Sabra-CCP Merger Veto

    Aug 02 2017

    Another player has spoken out against the proposed $7.4 billion merger of Sabra Health Care REIT, Inc. (Nasdaq: SBRA) and Care Capital Properties (NYSE: CCP) — and this time, it’s an independent third party. Institutional Shareholder Services (ISS), an independent proxy advisory firm, added its voice to the chorus rejecting the merger, including shareholders Hudson Bay Read More

  • Florida Agency Changes Policy Amid $1 Billion Medicare SNF Fraud Bust

    Aug 01 2017

    The Florida Agency for Health Care Administration (AHCA) tightened its internal protocols after a former administrator was charged in connection with what the Department of Justice is calling the largest health care fraud on record. Bertha Blanco worked for the Florida AHCA for 29 years before she was fired in late 2016. She has now Read More

  • CMS Projects $370 Million Increase in SNF Payments in 2018

    Jul 31 2017

    The Centers for Medicare & Medicaid Services (CMS) finalized its fiscal year 2018 payment and policy changes for skilled nursing facilities on Monday, including pay increases for the coming year. Payments to SNFs will increase in 2018 by $370 million, or 1%, compared to 2017, CMS projects. This falls short of last year’s prediction of Read More

  • Omega Misses Rental Income Projections Due to Delinquent Tenants

    Jul 27 2017

    Omega Healthcare Investors, Inc. (NYSE: OHI) missed its estimated quarterly rental income, with top executives from the real estate investment trust (REIT) blaming two delinquent operators on its second-quarter earnings call Thursday morning. Omega reported rental income of $194 million for the second quarter of 2017, a figure that — while 4% higher than it recorded in the Read More

  • Transactions: Greystone Arranges $78M in HUD Financing for SNF

    Jul 26 2017

    Greystone Lands $78 Million HUD Loan for Brooklyn SNF Greystone, a New York City-based real estate lending, investment and advisory company, provided a $78 million Department of Housing and Urban Development refinance loan for Boro Park Center for Nursing & Rehabilitation in Brooklyn, N.Y. The transaction represents one of the largest-ever HUD loans for a Read More

  • ManorCare Could Be Heading for a Breakup Amid Troubles

    Jul 24 2017

    As HCR ManorCare, Inc.’s battle with landlord Quality Care Properties (NYSE: QCP) drags on, the most likely outcomes for the skilled nursing operator are bankruptcy or receivership, according to a bankruptcy lawyer with experience in health care industry restructuring. QCP, a Bethesda, Md.-based real estate investment trust (REIT), was reportedly close to a full equity Read More

  • Transactions: Harborview Closes a $48M Bridge to HUD Loan for Two Florida SNFs

    Jul 19 2017

    Harborview Capital Partners Closes a $48 Million Bridge/Mezzanine to HUD Loan for Two Florida SNFs Harborview Capital Partners, a commercial real estate finance, equity, and advisory firm, arranged a $44 million loan for two skilled nursing facilities in Tampa and Jupiter, Fla., the company announced. The refinance loans were provided by a national lender and Read More

  • Hedge Fund Urges Shareholders to Halt Sabra-CCP Merger

    Jul 13 2017

    In June, Sabra Health Care REIT, Inc. (Nasdaq: SBRA) announced a planned merger with Care Capital Properties, Inc. (NYSE: CCP). Now, Sabra stakeholder Hudson Bay Capital, a New York-based hedge fund, advised other stakeholders to vote against the deal because it has led to a decline in share prices for both parties. “We are being asked to approve Read More

  • What Hospitals Consider When Pointing Patients to Skilled Nursing Facilities

    Jul 11 2017

    Hospital patients only have a limited window of time to select a skilled nursing facility at discharge, and hospitals are increasingly looking at a few new metrics when deciding which SNFs to recommend. In particular, hospitals are watching staff turnover rates more and more — even for executive positions, Vivage Senior Living chief business development officer Nancy Read More

  • Patients Find SNF Selection After a Hospital Stay ‘Crazy’

    Jul 10 2017

    When it comes to choices about health care, seniors should have as much information as possible to make educated decisions. Yet for the more than 20 percent of Medicare-using seniors who are admitted to skilled nursing facilities following a hospital stay, decisions have to be made quickly and with very limited information, according to a Read More

  • Transactions: N.Y. Skilled Nursing Facility Closes Due to Declining Occupancy

    Jul 09 2017

    New York State SNF to Close Due to Declining Occupancy Michaud Residential Health Services in Fulton, N.Y. is making plans to transfer its 64 residents and close by October 1. The 89-bed facility, which has been in operation since the 1970s, was previously owned by Oswego County, but was sold to not-for-profit St. Luke Health Services Read More

  • Pros and Cons for Skilled Nursing Under Senate’s Trumpcare Bill

    Jul 06 2017

    The Senate’s proposed health care legislation, like the bill that passed the House, includes significant cuts to Medicaid, which is the top payer for skilled nursing services. This presents obvious challenges for SNFs, but also may provide some positive outcomes. In the first quarter of 2017, 65.2% of patient days were attributed to Medicaid, and the Medicaid patient Read More

  • SNFs Get More Time to Meet Sweeping Medicare Regulations

    Jul 05 2017

    Last year, the Centers for Medicare and Medicaid Services (CMS) issued its first comprehensive overhaul of skilled nursing rules since 1991. But faced with objections from operators in the industry about the scope and timing of the new requirements, CMS decided to delay their enforcement of the regulations. The Phase 2 stipulations of the revised Requirements Read More

  • Why Home Care Can’t Compare to Skilled Nursing Facilities

    Jun 27 2017

    Most newly admitted nursing home residents could not be safely and cost-effectively diverted to home- and community-based services (HCBS) because many of them have health issues, such as dementia and stroke, that require high levels of care, according to a Canadian study in the July issue of JAMDA. Only about one in 20 nursing home residents could Read More