What once could be considered the norm in skilled nursing facilities — shared rooms, bathrooms and common areas — has recently been and will further be closely scrutinized by industry analysts, operators and the architects who design these facilities as the industry emerges from the height of the pandemic. Martin Siefering, a principal at architecture […]
Blueprint Healthcare Real Estate Advisors recently announced its involvement in the sale of a 120-bed skilled nursing and long-term care facility in Erie, Pennsylvania. The facility is reportedly in a competitive submarket and its operating performance had been improving prior to the COVID-19 pandemic. Blueprint received as many as six bids from qualified prospects and […]
The last year has been difficult for skilled nursing providers but there are plenty of signs for optimism coming out of the pandemic according to George Mesires, Co-Leader, Senior Living & Care practice Faegre Drinker Biddle & Reath LLP. Skilled Nursing News got the chance to chat with Mesires about what he is seeing in […]
Despite most nursing home residents being vaccinated, the skilled nursing industry is still faced with record-low occupancy, higher expenses, and regulatory uncertainty with a new administration taking the reins. Skilled Nursing News got a chance to sit down with Cory Christensen, the Chief Executive Officer of Plum Healthcare Group, to hear about how they are […]
Formation Capital has a long history in skilled nursing and based on our conversation with Arnold Whitman — its founder and chairman — the company continues to see a big opportunity for the industry to take advantage of the shift to value-based care. During the National Investment Centers for Seniors Housing & Care (NIC) conference in […]
Atrium Health and Senior Living announced late on Friday it had reached an agreement to have a receiver appointed for 33 skilled nursing and assisted living properties in Wisconsin and Michigan. The news was first reported by the Milwaukee Journal Sentinel. The Circuit Court of Wood County appointed Michael Polsky of Beck, Chaet, Bamberger & Polsky […]
National Health Investors (NYSE: NHI) executives said this week that oversupply is putting pressure on private-pay senior living operators, but the health care real estate investment trust (REIT) continues to see additional opportunity in skilled nursing. The Murfreesboro, Tenn.-based REIT reported second-quarter 2018 revenues of $72.96 million, which missed analysts’ expectations by $0.74 million. Its second-quarter […]
Welltower Inc. (NYSE: WELL) and ProMedica’s megadeal to acquire Quality Care Properties’ real estate has given the skilled nursing industry a boost, and could spur other similar deals in the future. As part of the $4.4 billion joint venture, non-profit hospital system ProMedica also picked up the struggling skilled nursing chain HCR ManorCare, QCP’s former primary […]
A shortage of qualified workers continues to plague the skilled nursing sector, and recent data from job board Monster backs it up. According to a new report from the Weston, Mass.-based online classifieds company, job openings for registered nurses were the most popular type of position posted during the first half of 2018. The health care […]
The new Patient-Driven Payment Model (PDPM) for skilled nursing facilities will require a strategic shift away from the volume of services provided to a focus on patient needs, and a new analysis from Avalere Health says providers should start breaking down their patient data now in order to adapt. Some providers could see Medicare reimbursements decrease […]
Nursing care occupancy rates fell again during the first quarter of 2018 according to data from the National Investment Center for Seniors Housing & Care (NIC). The occupancy rate for nursing care decreased to 86.2% in Q2, down from 86.5% in the first quarter of this year. One of the bright spots in the data was […]
Diversicare Healthcare Services, Inc. (NASDAQ:DVCR) announced Monday that Kelly J. Gill has retired as Chief Executive Officer. Taking over is James R. McKnight, Jr. who had been serving as the Chief Financial Officer since joining Diversicare in August 2012. “On behalf of the entire Board, we thank Kelly for his many contributions to Diversicare over the […]
Hospitals and referral sources have increasingly turned to the Five-Star Quality Rating System when vetting potential skilled nursing partners, but buyers often go even deeper — as these ratings don’t always tell the full story behind a SNF’s upsides. Rather than just focus on the rating provided by the Centers for Medicare & Medicaid Services […]
While individual star ratings are important for skilled nursing providers, a high number doesn’t always mean they are providing the best care and seeing lower rehospitalization rates. As the skilled nursing industry continues to adapt to new value-based care models, the importance of the Five-Star Quality Rating System from the Centers for Medicare & Medicaid […]
A new company from HealthSwap Advisors is looking to bring transparency and efficiencies to the buying and selling of health care bed licenses. Launched last year, the Bed License Exchange is a marketplace that allows investors and operators to buy and sell these licenses in a confidential, auction-style platform. “Up until this point, bed license availability […]
As the shift to value-based payments and managed care grows, data shows that skilled nursing providers are seeing revenue per patient under these agreements slide as the patient mix increases. The National Investment Center for Seniors Housing (NIC) found that managed Medicare patient mix at standalone skilled nursing facilities has been growing steadily. In the […]
The new proposed Department of Health and Human Services (HHS) budget was released on Monday, and it’s a mixed bag for skilled nursing providers. President Trump’s spending blueprint would make changes to Medicaid by creating a “market-based health-care grant” that could fund programs in addition to the traditional Medicaid program — a change that would […]
With record-low occupancy, rising labor costs, and other pressures eroding the bottom line, the need for nursing homes to innovate to survive has never been more pressing. In their quest for innovation, skilled nursing providers are turning to new partners, such as a Silicon Valley startup offering a solution to prevent residents from going to hospital emergency departments. […]
The cost of building new skilled nursing communities continues to rise due to labor shortages and a significant increase in the price of lumber. Lumber prices increased 13% mostly due to the number of hurricanes and concerns over tariffs imposed on Canadian lumber, according to the winter 2018 report from construction firm The Weitz Company. […]
Make no mistake: The skilled nursing industry is under threat from a range of forces, and no one is expecting it to end anytime soon. “[The industry is] under pressure from every imaginable direction, and it’s [only] getting harder,” said Russ DePriest, senior vice president and general manager-skilled nursing at PointClickCare. He spoke at the […]
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