Staffing struggles are nothing new for skilled nursing operators, but one provider in Ohio specifically credits investments in staffing and culture for its recent growth. Foundations Health Solutions, a skilled nursing and physical therapy company that operates 57 properties across Ohio, has boosted margins and expanded its footprint by streamlining the relationships between corporate, clinical, […]
Capital Funding, LLC announced the closing of a $14.7 million of a real estate term loan for a skilled nursing facility in Utah, which closed on October 3, 2019. The Baltimore-based Capital Funding helped owner Stonehenge of Utah to refinance existing debt and buy out Stonehenge of American Fork, minority partners of a 119-licensed bed […]
About a month into the Patient-Driven Payment Model (PDPM) for skilled nursing facilities, operators are taking stock of reimbursement strategies — including how they are tracking clinical outcomes and overall margins. Shifting from a third-party provider to an in-house model, or vice-versa, might also be part of that equation, though the answer isn’t quite straightforward. […]
Skilled nursing facilities will become more financially stable under the new system for Medicare reimbursement – which is a good sign for their landlords, according to Moody’s. Specifically, the stabilized cash flows under the Patient-Driven Payment Model (PDPM) are set to improve real estate investment trusts’ (REIT) credit standing, allowing more investments in this sector, […]
Despite a general lack of new construction in the skilled nursing space, one owner/operator stands out for building three brand-new skilled nursing facilities in the Chicagoland area. And when many companies are paring down staff and consolidating, Brad Haber, principal owner and operator at Innovative Health, LLC, is midway through spearheading three SNF construction projects […]
The first round of earnings calls these past two weeks revealed few firm outcomes related to the new Medicare payment model for nursing homes, but one provider was identified as potentially ahead of the curve: Signature HealthCARE. Omega Healthcare Investors (NYSE: OHI) chief investment officer Robert Stephenson on Wednesday praised Signature, one of its tenants, […]
Blueprint Healthcare Real Estate arranged the sale of a vacant 150-bed skilled nursing facility in Southeast Ohio. The Chicago-based brokerage worked with a real estate investment trust (REIT) owner and its national skilled operator tenant, which was looking to exit the state. The property was designated a Special Focus Facility, the federal government’s list of […]
Omega Healthcare Investors (NYSE: OHI) on Tuesday announced the formal completion of a $735 million deal to acquire 58 skilled nursing facilities — with Consulate Health Care confirmed the primary operator involved in the transaction. First announced back in August, the deal closed on October 31, and saw the real estate investment trust (REIT) acquire […]
The Ensign Group (Nasdaq: ENSG) this week delivered on a promise to continue its rapid expansion, announcing the acquisition of six more skilled nursing properties — to bring its total portfolio to 208. The first set of properties includes three buildings in San Antonio, Texas: Hunters Pond Rehabilitation and Healthcare, a skilled nursing facility with […]
The nursing home industry saw a slight drop in employment in its first full month under the new Medicare payment model, but the reason for the dip might not be as simple as cause and effect. The nation’s nursing facilities lost 1,300 workers between September and October, according to a Friday update from the Bureau […]
Walker & Dunlop provided a $28.3 million bridge loan for a buyer to purchase Pleasant Bay Campus, a 194-bed facility in Brewster, Mass., which offers both skilled nursing and assisted living services from operator Pointe Group Care. With plans to renovate the property during the 24-month bridge loan term and later move to permanent Housing […]
Among properties in the senior housing and care space, skilled nursing facilities tend to be the oldest, with new construction largely constrained to higher-end rehab facilities — sometimes called “medical resorts.” While rehab continues to drive new development in the nursing home space, Skilled Nursing News found a variety of unique projects across the country, […]
U.S. News & World Report on Tuesday released its 2019-2020 Best Nursing Homes ratings, which the publication has pitched as a more consumer-friendly alternative to the Centers for Medicare & Medicaid Services’ (CMS) Nursing Home Compare website. Analysts from the national news outlet have moved away from CMS’s five-star ratings to rely on their own […]
The regulatory push to reduce antipsychotic drugs in nursing homes may be correlated to a rise in risk factors for avoidable and non-avoidable hospitalization among residents with behavioral health issues, according to a recent study published in JAMDA, the journal for The Society for Post-Acute and Long-Term Care Medicine. A team of researchers from the […]
When Lantis Enterprises, Inc., a South Dakota health care management firm, took over certain properties from the bankrupt Welcov Healthcare on September 1, 2018, the operators didn’t expect that a prior fraud claim — based on allegations of excessive and improper Medicare billing dating back to 2012 — would haunt their company name and potential […]
A new piece of legislation before Congress would expand nursing homes’ ability to perform detailed background checks on potential employees, according to its sponsor. Sen. Kirsten Gillibrand, a New York Democrat, earlier this week announced a bill to improve health care worker hiring practices in an effort to reduce elder abuse. The initiative — known […]
The federal government’s top health care watchdog logged an increase in nursing home complaints last year, according to the most recent set of data from the Department of Health and Human Services, in tandem with a 23% rise in high-priority incidents that were not investigated within the proper timeframe. The HHS Office of the Inspector […]
Despite an extended government shutdown and some negative press, the federal lending program for nursing facilities and other health care properties saw a slight boost in overall dollar volume for the year — even as the absolute number of deals experienced a dip. The Department of Housing and Urban Development’s Section 232 program for skilled […]
Capital Funding Group last week announced the $13.8 million closing of a bridge loan backing Preferred Care’s acquisition of a 126-bed skilled nursing facility in New Jersey. The Baltimore-based Capital Funding and Preferred Care plan to refinance the debt through the Department of Housing and Urban Development’s 223(f) refinance program, which offers financing with longer […]
When an ombudsman remains on site during post-acute and long-term care facility surveys, the building’s quality scores may be negatively affected, according to a study in published this week in JAMDA, journal of AMDA — The Society for Post-Acute and Long-Term Care Medicine. Researchers determined that ombudsmen may direct assessors to more attention to on-site […]
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