MONTICELLOAM, LLC on Tuesday announced that it had provided $117 million in first-lien debt financing for the acquisition of a 12-building skilled nursing portfolio in North Carolina and Kentucky — along with the refinance of a thirteenth SNF. The entire portfolio totaled 1,357 skilled nursing beds. The New York City-based financial company and its affiliates […]
A group of 27 U.S. representatives asked the Centers for Medicare & Medicaid Services (CMS) to rethink a proposal restricting Medicaid supplemental payments — claiming enforcement will lead to decreased services and fewer available nursing home beds. The controversial proposed rule, the Medicaid Fiscal Accountability Regulation (MFAR), would bring tighter regulations to state-based Medicaid supplemental […]
As nursing homes’ operating margins dwindle due to insufficient Medicaid reimbursements, one state task force is encouraging lower performing facilities to simply shut down — and make more room for the remaining properties to grab a piece of a shrinking pie. The Nursing Facility Task Force of Massachusetts released a report declaring that the state […]
Since the landmark passage of a sweeping oversight bill in the late 1980s, hundreds of nursing homes have closed — while those that remained have increasingly taken on more difficult medical cases, according to new research from Brown University. The analysis, which focused on the effects of the Omnibus Budget Reconciliation Act of 1987 (OBRA […]
It’s four months into the Patient-Driven Payment Model (PDPM), and despite some industry analysts pointing to early gains for nursing homes, many occupational, speech, and physical therapy advocates continue to criticize layoffs and changes to resident care patterns. On the operational side, the initial PDPM returns have been positive: For instance, 67% of nursing homes […]
Oxford Finance LLC closed a term loan and revolving line of credit totaling $64.6M to fund the Portopiccolo Group’s purchase of three nursing homes. The N.J.-based Portopiccolo, a family-owned private equity firm focused on skilled nursing assets, acquired one facility in Maryland and two in North Carolina, totaling 450 skilled beds and 50 assisted living […]
Once wary of accountable care organizations (ACOs) and other new payment models, nursing home owners and operators are beginning to turn in favor of these value-based care structures — in the hopes of gaining leverage in a complex skilled nursing market burdened by high costs of care and staffing pressures. And although the push to […]
While some long-term care pharmacies are struggling to stay afloat, others are thriving despite headwinds such as reduced reimbursements and coding challenges in the skilled nursing sector. For many long-term care pharmacy players, the way forward rests on new information systems and collaboration with nursing homes — which, if pulled off successfully, could lead to […]
Creating or joining an independent practice association (IPA) empowers providers to negotiate managed care plan services and rates, a potential game-changer for nursing home owners amidst Medicare Advantage headaches — pains that include shorter lengths of stay, or the elimination of skilled nursing stays altogether in favor of home care. Providers might opt into an […]
Blueprint Healthcare Real Estate Advisors announced the $8.5 million sale of a 152-unit skilled nursing and assisted living facility in Northeast Ohio. The Chicago-based brokerage didn’t name the buyer or seller, though Blueprint indicated that the seller was a local 30-year owner-operator exiting the industry. The facility had experienced operational challenges, which Blueprint helped correct […]
Industry advocates in Massachusetts are close to winning a ballot initiative that would boost Medicaid funding for the state’s beleaguered nursing home industry by $272 million, but at least one influential lawmaker was skeptical of the plan’s cost. The state senate’s Elder Affairs Committee on Tuesday held an open discussion of the plan to increase […]
As 2020 begins, several mental health providers have pounced on former skilled nursing facilities, providing some concrete evidence of a trend toward repurposing post-acute real estate into behavioral health facilities. In recent years, a variety of industry-watchers have floated the idea of converting unused skilled nursing assets into behavioral health sites, including treatment centers for […]
As hospitals have increased pressure to reduce post-acute lengths of stay, and nursing homes take on higher-acuity patients, the skilled nursing space has grappled with the dueling potential for great financial gains — along with heightened risks in appropriately managing this population. One emerging strategy focuses on embedding higher-level clinicians, including physicians and advanced-practice nurses, […]
Nursing home operators continue to struggle with attracting and keeping skilled health care workers, a problem that negatively affects quality of care and the bottom line. And while it’s not easy to come up with solutions to this global issue, staffing obstacles persist — and they’re only going to get worse, according to a recent […]
Three months into the Patient-Driven Payment Model (PDPM), operators are still strategizing how to best streamline coding and reimbursements. Some are beginning to glean positive results with increased margins, whether it’s through an increase in more efficient group and concurrent modalities or a reduction in therapy headcounts — or both. But operators still have areas […]
Early returns for the new Medicare Part A reimbursement system for nursing home operators appear positive, but some industry advocates warn that more Part B pain could be coming over the next few years, both for therapists and skilled nursing providers. And although the exploding senior population represents heavy demand for therapy services, some leaders […]
CVS Health (NYSE: CVS) CEO Larry Merlo this week described the health care giant’s experience with its Omnicare long-term pharmacy subsidiary, which serves nursing homes nationwide, as “disappointing.” Speaking Tuesday at the J.P. Morgan Healthcare Conference in San Francisco, Merlo made a small reference to frustrations over struggles in the long-term care space since CVS […]
The transfer of a bankrupt nursing home in New York may soon hit another snag as a union representing the facility’s workers tentatively approved a strike in response to the potential new owner’s request to reject its labor contracts. Employees of the Bethlehem Commons Care Center in Delmar, N.Y., represented by 1199SEIU United Healthcare Workers […]
A proposed paperwork change could have a major impact on nursing homes’ ability to bill for Medicaid services. The decision to eliminate Section G from the Minimum Data Set (MDS), a move by the Centers of Medicare & Medicaid Services (CMS) set for October 1, is being met with apprehension and confusion in the industry […]
Helios Healthcare Advisors negotiated the $16 million sale of a 169-bed nursing home in Middlesex County, Mass. The Chicago-based Helios facilitated the transaction for an owner/operator based in New Jersey. The deal represented the buyer’s first purchase in the Massachusetts market, and proved to be a competitive sale — with more than 10 offers from […]
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