Posts by Maggie Flynn:

  • Despite Spending Most of the Proceeds, County Still Comes Out Ahead on $33M SNF Sale

    Dec 18 2018

    The sale of the county-run Pleasant Acres Nursing and Rehabilitation Center nursing home in York County, Penn., generated about $33.5 million — and while most of that money has to be used for unfunded retirement benefits for nursing home employees, the York Dispatch reported, the county still came out ahead. Of the proceeds of the sale Read More

  • Creative Solutions Co-Founder Sees ‘Endless Opportunity’ in Texas, Skilled Nursing

    Dec 18 2018

    Gary Blake, the co-founder of the Texas skilled nursing operator Creative Solutions in Health Care, sees history repeating itself as the year turns over and the industry prepares for the new Patient-Driven Payment Model (PDPM). He started the company with Malisa Blake-Deane in the year 2000 with one facility. Now the company manages 62 skilled nursing Read More

  • County SNF Expands Services to Survive; REIT Snaps Up West Virginia Building

    Dec 17 2018

    Birchwood Sells West Virginia SNF/ALF to Public REIT Blueprint Healthcare Real Estate Advisors announced the sale of a skilled nursing and assisted living facility, Madison Park Healthcare in Huntington, W.V., to a public real estate investment trust (REIT). Blueprint arranged the sale for the seller, Birchwood Healthcare Partners, which focuses on seniors housing and nursing Read More

  • As Lengths of Stay Decline, Drug Costs Loom Larger in Skilled Nursing

    Dec 16 2018

    Escalating drug costs have made headlines in the health care sector at large in recent months, and as patient length of stay (LOS) declines, skilled nursing facilities are particularly feeling the pinch due to their unique supply requirements. For Transitional Care Management, which has two skilled nursing locations in Illinois, the average cost of medications Read More

  • Wave of PDPM Sell-Offs Has Already Begun in Skilled Nursing

    Dec 13 2018

    With the Patient-Driven Payment Model (PDPM) looming in 2019, some skilled nursing facilities have already decided to make their exit rather than deal with the challenges of the new Medicare payment system. “I know of a number of buildings in northern California that have already started to transition,” Mark Lamb, the chief investment officer at Read More

  • Mozart Healthcare Acquires Seven Texas SNFs for $32M in Lone Star Expansion

    Dec 12 2018

    Mozart Healthcare acquired seven skilled nursing facilities in Texas with 1,004 beds, for $32 million, the Skokie, Ill.-based company announced this week, adding to its presence in the Lone Star State. The facilities were acquired from a national operator, which was not disclosed. The transaction is the fifth deal Mozart has closed in the state, as Read More

  • After Year of Struggles, Five Star Installs New CEO

    Dec 11 2018

    Five Star Senior Living (Nasdaq: FVE) president and CEO Bruce Mackey is stepping down at the end of December, the Newton, Mass.-based provider announced Tuesday. Katherine Potter, who currently serves as Five Star’s executive vice president and general counsel, will assume the roles of president and CEO effective New Year’s Day. Potter first joined Five Star in 2012; Read More

  • CMS Warns of Therapy Scrutiny, Reveals RUG-to-PDPM Transition Details

    Dec 11 2018

    The Centers for Medicare & Medicaid Services (CMS) on Tuesday provided details on the upcoming transition to the new Medicare payment model for skilled nursing facilities — as well as its key areas of scrutiny as the industry makes the switch. In a Medicare Learning Network call, CMS officials discussed the inner workings of the Read More

  • NHI Backs $25M Skilled Nursing Project for Ignite, Villa Healthcare

    Dec 10 2018

    National Health Investors, Inc. (NYSE: NHI) entered into an agreement to finance the development of a 144-bed skilled nursing facility near Milwaukee, a $25.35 million commitment with a 9.5% initial yield. Under NHI’s commitment, initial funding totaled $4.7 million. The yield earned during construction will be capitalized into NHI’s investment, according to a statement announcing the Read More

  • Facing Declining Census, Struggling SNFs Turn to Assisted Living, Home Health

    Dec 10 2018

    As occupancy levels continue to fall in skilled nursing facilities, some providers will have to think outside the box — and sometimes outside their walls — to make the best use of their space and their resources. But they might have more flexibility to do that in part because of the different roles that rural Read More

  • $32M Bridge Loan for TX Portfolio; Nursing Home Breaks Ground in Illinois

    Dec 09 2018

    Greystone Provides $31.5M Bridge Loan for SNF Portfolio in Texas Greystone provided a $31.5 million bridge loan for a portfolio of four skilled nursing facilities in Texas. The non-recourse loan carries an initial term of 24 months with two six-month extension options; it also includes a floating interest rate and interest-only payments for the entire term. Read More

  • OIG: 46% of Medicare Patients in LTACs Experience Harm

    Dec 09 2018

    Almost half of Medicare patients experience either adverse events or temporary harm events inside the walls of a long-term care hospital (LTCH) according to a November report from the Department of Health and Human Services (HHS). The Office of Inspector General (OIG) found that 21% of Medicare patients in LTCHs — also known as long-term Read More

  • KeyBank Provides $36M for Four-SNF Portfolio; Regional Transfers Five Buildings

    Dec 05 2018

    KeyBank Provides $36M for Ohio SNF Deal KeyBank Real Estate Capital provided Foundations Health Solutions, a long-term health care company based in North Olmstead, Ohio, with $36.3 million in funding to acquire a four-property skilled nursing portfolio in Ohio. RE Journals first reported the transaction. The loan proceeds, funded through the Federal Housing Administration (FHA) 232/223(f) Read More

  • SNFs Report ‘Widespread’ Frustration with Medicare Advantage Plans, Study Finds

    Dec 05 2018

    Medicare Advantage (MA) plans are trying to reduce post-acute care spending by limiting the skilled nursing facilities in their networks, and by capping the lengths of stay — and SNFs and hospitals aren’t taking it well. That’s according to a study published Monday in the American Journal of Managed Care, which tracked the opinions administrative Read More

  • Senior Care Centers Files for Bankruptcy, Blaming ‘Expensive Leases’

    Dec 04 2018

    Senior Care Centers announced Tuesday that it is filing for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Northern District of Texas. The move will allow Senior Care Centers, which has almost 10,000 residents and nearly 11,000 employees, to address “burdensome debt levels and expensive leases,” according to a press release announcing the Read More

  • Curavi Health Acquires Post-Acute Telemedicine Provider TripleCare

    Dec 04 2018

    Curavi Health, a post-acute telemedicine provider with the backing of health giant UPMC, has acquired fellow skilled nursing-focused telehealth operator TripleCare. Terms of the acquisition, announced Tuesday and effective immediately, were not disclosed. The Chicago-based specialty investment bank Ziegler served as advisor to TripleCare in the transaction. The combined entity of Curavi and the Long Read More

  • Low Reimbursements, Staffing Shortages Create SNF Backlog in New England

    Dec 03 2018

    Insufficient nursing home capacity — the result of low reimbursements, staffing shortages, and challenges in caring for patients in need — is to blame for a patient backlog at two affiliated hospitals in New Hampshire and Vermont, the Valley News reported Saturday. The Dartmouth-Hitchcock Medical Center (DHMC) in Lebanon, N.H., had to hold patients for a total Read More

  • No Room for Error as Providers Update Rehab Contracts Under PDPM

    Dec 03 2018

    When sitting down at the negotiating table, rehabilitation companies can often have an edge over the skilled nursing facilities where they provide services. This is especially true as providers take stock of their costs and care models in preparation for the new Medicare payment system taking effect next year. But that doesn’t mean that SNFs Read More

  • Crown Healthcare Group Acquires Ohio Facility; Wisconsin SNF’s $1M Upgrades

    Dec 02 2018

    Crown Healthcare Group Acquires Ohio SNF for $6.3M Crown Healthcare Group acquired the skilled nursing facility Villa Springfield in Springfield, Ohio from Covenant Care, The Springfield News-Sun reported. Crown, which according to founder Fred Friedman, is six months old, has acquired other facilities in southwest Ohio, including the Versailles Health Care Center in Versailles and Read More

  • CMS Implements Stricter Nursing Home Staffing Survey Rules for States

    Nov 30 2018

    The Centers for Medicare & Medicaid Services (CMS) announced Friday that it will use payroll-based journal (PBJ) data to bolster state oversight of nursing homes, effective immediately. Specifically, CMS will use PBJ data to identify and provide state survey agencies with a list of nursing homes that have several days in a quarter without a registered Read More

  • CMS Peels Back Curtain on Why Providers Receive PBJ Audits

    Nov 29 2018

    As part of the federal government’s effort to verify staffing levels at skilled nursing facilities, skilled nursing facilities are rated on their nursing and caretaking personnel based on payroll records. How the government assesses those records has raised questions among providers, and the Centers for Medicare & Medicaid Services (CMS) recently gave Skilled Nursing News a Read More

  • HealthPRO Heritage Acquires LTC Therapy Provider Agility

    Nov 29 2018

    HealthPRO Heritage, a portfolio company of the private equity firm Beecken Petty O’Keefe, announced on Thursday that it had purchased the long-term care division of Alliance Physical Therapy Management for an undisclosed sum. The division, Agility Health, provides services to more than 20 long-term care facilities, HealthPRO vice president of mergers and acquisitions Anton Kuznetsov Read More

  • Greystone Provides $100M in Financing for Two Centers Health Care SNFs

    Nov 28 2018

    Greystone on Wednesday announced the origination of $100.75 million in loans, insured by the Department of Housing and Urban Development (HUD), to refinance two skilled nursing facilities in the state of New York. The loans were originated for Centers Health Care by Fred Levine, managing director in Greystone’s Monsey, N.Y. office. Centers has roughly 50 facilities Read More

  • As PDPM Looms, Luxury-Focused Ignite Expands ‘Medical Resort’ Model

    Nov 27 2018

    With a recent grand opening in Kansas City, Ignite Medical Resorts is betting that short-term rehab still can be a winner — even if the reimbursement math will become trickier under the new Medicare payment system next year. “At the end of the day, many people can build a nice facility,” Ignite co-founder and CEO Read More

  • Minnesota SNF Closes Doors; Nursing Home Developer Eyes Former Retail Site

    Nov 26 2018

    Walker Rehab Healthcare Center in Minnesota to Close The board of directors of the Walker Rehabilitation and Healthcare Center in Walker, Minn., will close the skilled nursing facility, The Pilot-Independent reported. The SNF used to be known as Woodrest-Golden Living. The average daily occupancy of the care center has declined in recent years, leading to the Read More

  • Washington Post Blames Private Equity for ManorCare Woes

    Nov 26 2018

    Skilled nursing chain HCR ManorCare’s struggles were the direct result of its former private equity ownership, a Sunday report in The Washington Post alleged. The paper analyzed inspection records as part of the wide-ranging story, finding that the number of health code violations found at ManorCare rose from 1,584 in 2013 to nearly 2,000 in 2017 Read More

  • Dycora CEO: Define Your SNF’s Role in the Market Before Others Can

    Nov 26 2018

    Forging partnerships isn’t just about trying to crack into preferred referral networks, according to one CEO. It’s about getting ahead of government changes and other market factors, and defining your company’s role in a specific region — instead of allowing regulators and partners to do it for you. Most SNFs know they need to keep track Read More

  • Lawsuit Accuses Molina of Failing to Provide Required Skilled Nursing Care

    Nov 25 2018

    The insurer Molina Healthcare was accused of neglecting to provide a mandatory skilled nursing program in violation of its managed Medicaid contracts with the state of Illinois in a recently unsealed lawsuit. The case, first reported by FierceHealthcare, alleges that the Long Beach, Calif.-based insurer failed to operate a so-called “SNFist” program, in which licensed clinicians Read More

  • Preferred Care Asks for Fourth Extension on Bankruptcy Restructuring Plan

    Nov 20 2018

    Preferred Care, a nursing home operator that filed for Chapter 11 bankruptcy protection last year, is seeking another extension for the exclusive period in which it can file and confirm a plan of reorganization. The motion, filed Monday, is the fourth such request entered this year, and would extend the exclusivity period by 91 days if Read More

  • Nursing Home Thrives By Targeting Residents Others Won’t Take

    Nov 19 2018

    One of the top nursing homes in the state of Connecticut secured its accolades by specifically taking in patients that other skilled nursing facilities shy away from serving. The 60 West facility, located in Rocky Hill, Conn., was named to U.S. News & World Report’s list of best nursing homes and was one of the Read More

  • Green House Model Goes to Vegas; ESI Brokers $7.3M Ohio Sale

    Nov 19 2018

    Green House-Model SNF Comes to Las Vegas The Villas at Centennial Hills, a Green House project, will be built in Las Vegas, with a groundbreaking scheduled for December 4. The facility will include six villas with private bedrooms and bathrooms and a co-living kitchen, dining room, living room, and outdoor spaces. It will be the Read More

  • Report: Troubled Former Golden Living Facilities Highlight Oversight Issues

    Nov 18 2018

    Nursing facilities formerly operated by Golden Living in Pennsylvania are still plagued with problems — even as Golden Living continues to own the real estate. That’s according to an in-depth investigation published last week by PennLive, which explored the issues of nursing facilities that the Plano, Texas-based Golden Living used to operate in the state. Read More

  • $7.6M Bridge Loan for 3-SNF Portfolio; Nursing Homes in PA, NY Change Hands

    Nov 15 2018

    Lancaster Pollard Facilitates $7.6M Bridge Loan for 3 SNFs Lancaster Pollard arranged a $7.6 million bridge loan financing for three skilled nursing facilities in Kansas and Missouri owned by Medicalodges, Inc. Medicalodges owns and operates 25 SNFs, eight assisted living facilities, four home health care offices, and two locations serving people with intellectual and developmentally disabilities. Read More

  • Receiver of 19 Skyline SNFs Proposes Closing Two Facilities

    Nov 15 2018

    Black Hills Receiver LLC, the court-appointed receiver for 19 skilled nursing facilities in South Dakota that were operated by Skyline Healthcare and its affiliates, on Wednesday proposed a plan to close two of the facilities due to lack of funds. The earliest date the facilities — the Madison Care and Rehabilitation Center in Madison, S.D., and Read More

  • Aegis CEO: Therapy Can Still Drive Skilled Nursing Revenue Under PDPM

    Nov 15 2018

    The new Medicare payment model for skilled nursing facilities upends the old system of rehabilitation minutes driving reimbursement. With the Patient-Driven Payment Model (PDPM) scheduled for implementation on Oct. 1, 2019 by the Centers for Medicare & Medicaid Services (CMS), SNFs and therapy providers alike are scrambling to catch up and prepare. In this changing landscape, Read More

  • White Oak Lands $190M Financing for 17 Former Kindred SNFs

    Nov 14 2018

    White Oak Healthcare Finance helped arrange a $190 million senior credit facility for 17 skilled nursing facilities owned by the joint venture BM Eagle Holdings, led by affiliates of BlueMountain Capital Management. White Oak acted as administrative agent and lead lender on the funding of the credit facility, which will be used for facilities in Read More

  • RiverSpring CEO Talks Skilled Nursing as ‘Dinosaur’ and New York’s First CCRC

    Nov 13 2018

    RiverSpring Health is working on New York City’s first continuing care retirement community (CCRC) as it expands beyond its Hebrew Home at Riverdale nursing facility. And CEO Daniel Reingold is optimistic about it — particularly as the skilled nursing industry convulses in a series of transformations. “It’s a dinosaur,” he told Skilled Nursing News of Read More

  • Nursing Providers Could See 30% Higher Insurance Costs Amid Volatile Market

    Nov 13 2018

    The marketplace for long-term care liability insurance is increasingly volatile, with greater underwriting pressures and a much more intense focus on profitability, according to a new report on the liability market from the advisory firm Willis Towers Watson. Liability insurance rates for senior living and long-term care (LTC) providers are expected to go up anywhere Read More

  • MedEquities To Re-Tenant 10 Texas SNFs

    Nov 12 2018

    MedEquities Realty Trust, Inc. (NYSE: MRT) has signed an agreement to re-tenant 10 Texas skilled nursing facilities currently leased to affiliates of OnPointe. The Nashville, Tenn.-based real estate investment trust (REIT) owns 34 acute and post-acute facilities in seven states; it has about 20 SNFs in its portfolio, according to its website. The new 15-year triple Read More

  • As Consumer Clout Grows, Providers Need to Bust Long-Term Care ‘Myths’

    Nov 12 2018

    In a world where ratings and reviews help shape consumer choice, long-term care has a major perception problem. “When we go out and just talk to consumers, perception-wise, about long-term care, only about 24% trust or have confidence in long-term care or nursing homes,” Ryan Donohue, strategic adviser at the the research firm NRC Health Read More

  • KeyBank Provides $127.7M For Two Skilled Nursing Portfolios

    Nov 11 2018

    Two skilled nursing portfolios in Texas and Nevada secured financing from KeyBank Real Estate Capital totaling $127.7 million. The loans serve as a bridge to Department of Housing and Urban Development (HUD) financing for the portfolios. The SNF portfolios are joint ventures led by Capital Senior Ventures and BlueMountain Capital Management. For the 16-property Texas portfolio, Read More

  • Breaking Down Silos, New SNF Targets Substance Misuse Disorders

    Nov 11 2018

    A new skilled nursing unit in McKeesport, Pa., is targeting the needs of patients with a primary medical condition and co-occurring substance misuse disorders,  in collaboration with an integrated delivery and financing network, a local county government and a managed care network. “It’s designed for patients who have a primary medical diagnosis as well as Read More

  • Genesis Sees SNF Upside Ahead, Despite Q3 Losses

    Nov 08 2018

    Improving skilled nursing and occupancy trends, as well as a healthy dose of cost control, made the third quarter a strong one for Genesis Healthcare (NYSE: GEN) in spite of a net loss, executives said on the company’s third-quarter earnings call. “I think you can tell there’s a lot more optimism in our voices,” Genesis CEO George Read More

  • Colony Capital Names Thomas Barrack CEO, Reports Q3 Net Loss of $70M

    Nov 08 2018

    Colony Capital, Inc. (NYSE: CLNY) shook up its leadership amid a net loss of $70 million for the third quarter, naming executive chairman Thomas Barrack as CEO. Barrack replaces Richard Saltzman, who served as CEO for four years since the company went public. Saltzman is expected to remain with the company in a non-executive capacity Read More

  • Diversicare Divests Three Kentucky Properties; Greystone’s $20.9M HUD Financing

    Nov 07 2018

    Diversicare To Sell Three Kentucky Facilities for $18.7M Executives with the operator Diversicare Healthcare Services Inc. (Nasdaq: DVCR) signed an agreement to sell three Kentucky properties for a combined $18.7 million, Nashville Post reported. The sales are expected to close in the fourth quarter, and will cut Diversicare’s footprint in the state to 10 facilities. The Read More

  • LTC Hints at Shopping Senior Care Centers SNFs in Texas

    Nov 06 2018

    LTC Properties (NYSE: LTC) is closely monitoring Senior Care Centers after fellow real estate investment trust (REIT) Sabra Health Care REIT announced the termination of its leases with the troubled provider — but it hasn’t yet seen comparable problems. “They’re not in default in anything relative to our lease,” LTC chairman, CEO, and president Wendy Simpson Read More

  • CareTrust Sees Smooth Sailing, SNF-Heavy Pipeline in Q3

    Nov 06 2018

    CareTrust REIT (Nasdaq: CTRE) had a rosy report for the third quarter of 2018 — and is optimistic about what’s to come next year. “Our third quarter went about as smoothly as any in our history,” Greg Stapley, CareTrust’s chairman, president, and CEO, said on the call. “We closed on a couple of nice deals, Read More

  • ResMed Acquires MatrixCare for $750M, Expanding Into Long-Term Care

    Nov 05 2018

    ResMed (NYSE: RMD, ASX: RMD) announced Monday that it signed a definitive agreement to acquire post-acute software provider MatrixCare for $750 million. “We were looking for another great addition to add a third leg, if you like, to the stool of our out-of-hospital software investments, and MatrixCare just came straight to the top,” ResMed CEO Mick Read More

  • Omega Expects to Be a Buyer in ’19 After Year of Sell-Offs

    Nov 05 2018

    After months of repositioning, Omega Healthcare Investors (NYSE: OHI) beat analyst expectations in its third-quarter earnings, and the company expects to continue the momentum next year. “We expect that in 2019, acquisitions will meaningfully outpace dispositions as we return to our historical growth mode,” CEO Taylor Pickett said on Omega’s third-quarter earnings conference call on Monday. Omega Read More

  • Monticello Pumps $69M into New Jersey Portfolio; Nursing Home Sale Finally Approved

    Nov 04 2018

    Monticello Provides $69M Financing for New Jersey Portfolio Monticello Asset Management recently raised $69 million for a New Jersey skilled nursing investor and its operating partner. Two of the New York City-based firm’s investment vehicles originated $65 million in first-lien debt financing to HP Intermediate Administrative Services, which is looking to buy a four-asset skilled Read More

  • Providers Should Go Beyond Rates in Negotiating Medicare Advantage Contracts

    Nov 04 2018

    When looking at a Medicare Advantage (MA) contract, the first instinct of many skilled nursing providers will be to check the rates. But if they stop there, they could miss out on significant amounts of revenue. “We do know when people get a contract, they want to just look at the rates,” Steve Wermuth, a Read More

  • Diversicare Records $7.4M Loss Related to Open DOJ Investigation

    Nov 01 2018

    Diversicare Healthcare Services Inc. (Nasdaq: DVCR) recorded a net loss from continuing operations of $7.4 million, or $1.15 per share, in what president and CEO Jay McKnight described as “a challenging quarter.” The loss was mainly attributable to a $6.4 million litigation contingency expense related to an open Department of Justice (DOJ) investigation into potential violations Read More

  • CMS Highlights Key Areas of Skilled Nursing Enforcement, Improvement

    Oct 31 2018

    Improving surveys, clarifying nursing facilities’ reporting requirements, and providing more detail on citations are some of the current top priorities for the Centers for Medicare & Medicaid Services (CMS). Karen Tritz, director of the Division of Nursing Homes in CMS’ Quality and Safety Oversight Group, walked through several policies and their status in a presentation Read More

  • Bankrupt Preferred Care Offloads Two SNFs; $5.3M Expansion in Nebraska

    Oct 31 2018

    Preferred Care Selling Two Santa Fe Nursing Homes Preferred Care, which declared bankruptcy in November of last year, is selling two nursing homes in the Santa Fe, N.M. area, the Santa Fe New Mexican reported. Genesis HealthCare (NYSE: GEN), based in Kennett Square, Pa., is acquiring the Casa Real nursing home; the major nationwide provider Read More

  • NY Health Department Appoints Receiver for Two Buffalo Nursing Homes

    Oct 30 2018

    The New York Health Department appointed a receiver to take over Emerald South Nursing and Rehabilitation Center and Emerald North Nursing and Rehabilitation Center in Buffalo, N.Y. The move was first reported by The Buffalo News, which recently published an in-depth investigation on out-of-town investors buying up nursing homes in the area. Emerald South and Emerald Read More

  • Providers Must Target Rehab Contracts, Cash Flows Now Ahead of PDPM

    Oct 29 2018

    As skilled nursing providers start preparing for the new Medicare payment model, they need to zero in on how much money they’re making now on the various services they provide. Specifically, they need to brush up on their ICD-10 codes, which will play a key part in the setting of their reimbursement rate, as well Read More

  • Lancaster Pollard Closes 70 HUD Loans Totaling $619.1M in 2018

    Oct 29 2018

    Lancaster Pollard closed 70 loans — totaling $619.1 million — that were insured by the Department of Housing and Urban Development (HUD) in fiscal 2018. Of the total closed through the program, the Columbus, Ohio-based lender logged 35 for skilled nursing facilities, for a total value of around $349.4 million and an average bed count Read More

  • Reliant CEO Talks Strategy, Behavioral Health Potential After $88M Sale

    Oct 28 2018

    Reliant Care Management Group, based in Maryland Heights, Mo., had a busy summer. The company, which has 20 skilled nursing facilities and five assisted living facilities in Missouri and Illinois, recently executed a deal to sell the real estate of eight SNFs to Griffin-American Healthcare REIT IV, Inc. for $88.2 million. Reliant is staying on as Read More

  • Skilled Nursing Poised to Become ‘Biggest, Cheapest Game in Town’

    Oct 25 2018

    In an industry where a coming wave of customers seems to be permanently just out of reach, skilled nursing facilities have to be braced for some short-term pain. But if they take charge of their strategies and relationships, it’s possible for them not just to survive, but to thrive. That was the message from a Read More

  • Legacy Buys $5M Building in Illinois; Former Skyline Facility to Sell Soon

    Oct 25 2018

    Legacy Healthcare Buys Elgin, Ill., SNF for $5M, Plans Millions in Renovations Legacy Healthcare purchased the Advocate Sherman West Court skilled rehabilitation and nursing facility in Elgin, Ill., and plans to invest $2 million in renovations, The Daily Herald reported. Most or all of the 75 staff members are expected to keep their jobs. The renovations Read More

  • Bloomberg: Long-Term Care Leads Health Care Deal Surge

    Oct 23 2018

    It’s been an active year for long-term care transactions, and a leading financial publication has taken notice. Long-term care led all health care segments tracked by investment bankers in deals for the third quarter of 2018 and the entire year to date, Bloomberg News reported. Out of 287 transactions announced or closed in the quarter, Read More

  • Out-of-Town Skilled Nursing Investors Get Low Marks in Western N.Y.

    Oct 22 2018

    Out-of-town investors have snapped up a third of the 47 nursing homes in the Western New York towns of Erie and Niagara since 2007, and a Sunday report from The Buffalo News questions whether care in the region has suffered as a result. Eight out of the 10 local nursing homes in Erie and Niagara rated “much Read More

  • Medicare’s Impending Death Greatly Exaggerated, But Concerns Remain

    Oct 21 2018

    Despite concerns about its impending doom, the financial outlook for the Medicare program has improved considerably from where it was 10 years ago. That said, Medicare remains an extremely expensive program, Alicia Munnell and Anqi Chen, both of the CRR, noted in a research brief published last week. “U.S. health care costs as a percentage of Read More

  • Greystone to Develop $21M Skilled Nursing Facility; Lancaster Pollard Secures $6.7M Refi

    Oct 18 2018

    Greystone Healthcare Management to Develop $21M SNF in Florida Greystone Healthcare Management will develop a $21 million, 80-bed skilled nursing facility in Clermont, Fla. The 60,250 square-foot center will have 40 private suites and 20 semi-private rooms. Services will include specialized orthopedic, cardiac, and stroke rehabilitation programs, with an emphasis on higher-end “health care resort” touches. “The cornerstone Read More

  • Employee Satisfaction Has Direct Impact on Bottom Line in Skilled Nursing

    Oct 17 2018

    A recent survey found a strong correlation between employee satisfaction and resident engagement — which in turn boosts referrals. That means that engaging employees can be a path to better returns on investment. “The happier the employees, the happier the residents, the better the money,” Todd Schmiedeler of Trilogy Health Services said at a Wednesday Read More

  • New Bill Before Congress Could Mitigate Skilled Nursing Staffing Woes

    Oct 17 2018

    Legislation introduced late last month would give the government greater flexibility in reinstating training programs offered by providers, even when the skilled nursing facilities have been hit with a civil monetary penalty (CMP). At present, if a SNF receives a civil monetary penalty greater than $10,000, that facility is automatically banned from doing any certified Read More

  • Skilled Providers Can No Longer Be Independent Players, Executives Believe

    Oct 17 2018

    A majority of skilled nursing and seniors housing executives believe skilled nursing providers can no longer be independent players in the post-acute care continuum — and almost 20% see integration as a necessity. According to a survey conducted by real estate lending, investment, and advisory company Greystone and administered by Marc Zimmet of Zimmet Healthcare Services Read More

  • Nursing Care Costs Rise Most Among All Long-Term Settings

    Oct 16 2018

    The annual median cost of care for a private room in a nursing home hit $100,375, marking the biggest increase across all long-term care settings over the last five years. That’s according to the 15th annual Genworth Cost of Care Survey, which contacted more than 49,000 long-term care providers across the U.S. to complete 15,000 Read More

  • Ohio SNF Sells for $1.7M; Pittsburgh SNF Gets $19.5M Bridge Financing

    Oct 15 2018

    Dayton, Ohio, Skilled Nursing Sells for Almost $1.7M The Forest View Care and Rehabilitation Center in Dayton, Ohio, was sold for almost $1.7 million, WHIO-TV reported on Oct. 11, citing property records. The facility was sold to Forestview Propco LLC by Sabra Health Vcare, according to the records. Forestview Propco has a Chagrin Falls, Ohio mailing address. Another nursing facility in Read More

  • Gulf Between Nursing Shortage, Surplus to Expand by 2030

    Oct 14 2018

    In two years, California is projected to be short almost 45,000 registered nurses (RNs), while Florida will have a surplus of almost 54,000. By 2030, the numbers get even starker; the number of RNs needed in the U.S. will be 3.6 million, according to data from RegisteredNursing.org, but pain will still depend on where you Read More

  • Adapt or Shut Down: How Smaller, Rural SNFs Can Ride Out the Storm

    Oct 11 2018

    While rural skilled nursing facilities are facing the same reimbursement and regulatory challenges as their urban peers, they’re going to have to take some extra steps to survive the pressures. For one thing, rural SNFs are often dealing with a critical access hospital (CAH), defined among other criteria as being located more than 35 miles Read More

  • In-House Health Plans Provide Path Out of Managed Care Pain for Operators

    Oct 10 2018

    As the long-term health care industry moves into a value-based payment world, a special type of Medicare Advantage plan could offer skilled nursing providers a path to get ahead. In fact, institutional special needs plans (I-SNPs) could be the future for skilled nursing facilities battered by the changes in reimbursement, the move to value-based models Read More

  • Two New Jersey Facilities Sell for Record $31.5M; Capital One Provides $17.1M Refi

    Oct 10 2018

    Evans Senior Investments Facilitates Sale of Two New Jersey SNFs for $31.5M Evans Senior Investments represented the seller in the sale of two New Jersey skilled nursing facilities for $31.5 million, or *$190,000 per bed. The deal represents the highest price per bed ever recorded in New Jersey for a SNF portfolio, according to the Read More

  • Medicaid’s Behavioral Health Benefits Can Boost SNFs’ Bottom Lines

    Oct 08 2018

    As long-term care providers grapple with reimbursement pressure, some skilled nursing facilities are seeing success by adding behavioral health services to their roster of offerings. But to do that, they have to navigate a host of regulatory and staffing hurdles, the former of which can vary in intensity from state to state. Of 230 Colorado Read More

  • Sharing Success Stories Can Bolster Skilled Nursing in Meetings With Hospitals

    Oct 07 2018

    Most post-acute providers are aware that they need to be able to demonstrate their outcomes with data in meetings with hospitals and other referral partners. But another crucial component is showing how those outcomes are contributing to a skilled nursing facility’s success. “I always say share what your outcomes are doing for you,” said Shonia Read More

  • New Analytics Platform Targets SNFs’ Growing Data Needs

    Oct 04 2018

    Zimmet Healthcare Services Group on Thursday launched an analytics platform specifically targeting financial and reimbursement professionals in the skilled nursing space. Providers’ data needs are only likely to grow with the implementation of the Patient-Driven Payment Model (PDPM) on October 1, 2019. “There’s going to be tremendous variation in nursing home Medicare expenditures [with PDPM], Read More

  • With Hospitals Taking Cues From Insurance, Post-Acute Providers Need to Stand Out

    Oct 03 2018

    Acute care providers have begun to take cues from insurance companies as they vet their post-acute partners. That’s according to a panel of case managers at the Senior Care Marketing Sales Summit (SMASH), held in Rosemont, Ill. Hospitals are penalized for every readmission, and as a result, acute care leaders are paying increasing attention to Read More

  • New Ownership for SNFs in Maryland and Ohio; Groundbreaking for $24M Rehab Wing

    Oct 03 2018

    Maryland Skilled Nursing Facility Sells for $11.66M Senior Living Investment Brokerage announced the sale of the Calvert County Nursing Center skilled nursing facility in Prince Frederick, Md., for $11.66 million. The seller was a non-profit with seven continuing care retirement communities (CCRCs) in Maryland, Pennsylvania, Oklahoma, and Tennessee. The buyer is an investor-operator partnership based Read More

  • Genesis Sells 15 Skilled Nursing Facilities as Texas Exit Continues

    Oct 03 2018

    Genesis HealthCare (NYSE: GEN) this week sold 15 skilled nursing facilities in Texas and handed off the operations of a 16th leased facility in the state. The transaction, announced late Tuesday, leaves seven Genesis SNFs in the state, with the company planning to sell all seven during the fourth quarter of this year. Previously, the Read More

  • Lancaster Pollard Secures $16.8M Refi; Welltower Continues Florida Sell-Off

    Oct 02 2018

    Lancaster Pollard Facilitates $16.8M Refi in Pennsylvania Lancaster Pollard, a lender based in Columbus, Ohio, facilitated a $16.8 million refinance of the Mountain View SNF for Complete Healthcare Resources. The 271-bed facility, located in Coal Township, Pa., also has eight independent living units. The refinance was closed through the Federal Housing Administration’s Sec. 232/223(f) program; it decreases overall Read More

  • Mom-and-Pop Skilled Nursing Facilities Could Find Safety in Numbers Under PDPM

    Oct 01 2018

    Standalone skilled nursing facilities are likely to depart in droves under the new Medicare payment system, at least according to several executives with major skilled nursing players. In fact, the new Patient-Driven Payment Model (PDPM) is likely to force many mom-and-pops out of the space altogether, CareTrust chief investment officer Mark Lamb said in the Read More

  • Non-Profits Exit Skilled Nursing Amid Consolidation, Strong M&A Activity

    Sep 30 2018

    Non-profits have felt particularly squeezed by recent skilled nursing pressures on multiple fronts, prompting them to sell off their skilled facilities — typically to for-profit entities. Many of them are feeling the pressures of staffing, Luann Gutierrez, Greystone & Co.’s managing director for bridge finance, told SNN. In addition, the non-profits that have just one or Read More

  • NY Times: Lower Census Causing Hundreds of Nursing Homes to Close Each Year

    Sep 30 2018

    The New York Times covered the issues stemming from declining nursing home occupancy on Friday, detailing how shrinking numbers of residents has led to empty beds and hundreds of closures. Nicholas Castle, a researcher at the University of Pittsburgh, told the Times that 200 to 300 nursing homes close in the United States each year. Read More

  • Genesis CEO Hager on Leadership, PDPM, and the ‘Medicaid Problem’

    Sep 30 2018

    Genesis Healthcare (NYSE: GEN) has been working to optimize its portfolio in a year of troubles both for the company and the skilled nursing industry at large — with a goal of properly positioning for the future as changes loom large in the space. Leading that effort is CEO George Hager Jr., who has served Read More

  • Ziegler Closes $200 Million in Bonds for Skilled Nursing, CCRC Deals

    Sep 27 2018

    Specialty investment bank Ziegler this week announced the successful closing of $200.6 million in bonds to fund the acquisition and renovation of skilled nursing facilities and continuing care retirement communities (CCRCs). The Trousdale Foundation Properties Series 2018 bonds were issued in various series. Trousdale is a Massachusetts chartered not-for-profit corporation formed in 1989 that, before this Read More

  • Survey Finds Support for LGBT-Focused Nursing and Retirement Options

    Sep 27 2018

    Three out of four members of the lesbian, gay, bisexual, transgender, and intersex (LGBTI) communities said they wished there were more LGBTI-specific retirement homes and nursing homes, according to a survey conducted by banking giant Barclays and  Gay Star News. The survey drew from more than 2,300 respondents, and was conducted for Gay Star News’s inaugural LGBTI Founders Read More

  • Northwind Acquires $182.5M Skilled Nursing Portfolio in Ohio and Kentucky

    Sep 26 2018

    Northwind Group, a real estate owner-operator based in Manhattan, acquired a portfolio of seven skilled nursing facilities with a total of 1,037 beds in Ohio and northern Kentucky. Along with one 110-unit assisted living property, the total acquisition price was $182.5 million. All of the facilities are operated by Carespring Health Care, a Loveland, Ohio-based Read More

  • $4.5M Skilled Nursing Expansion in Texas; SNF Construction Delay in Michigan

    Sep 25 2018

    Texas SNF Plans $4.5M Expansion, Including Gym and Private Rooms Arbor Grace Skilled Nursing and Rehabilitation in Kilgore, Texas is planning a $4.5 million expansion that will add 15,000 square feet to its footprint, the Longview News-Journal reported. The project will include a 2,200-square-foot therapy gym and 20 private rooms, which will bring the total number of beds Read More

  • Skilled Nursing Providers Turn to Behavioral Health Amid Medicaid Headwinds

    Sep 24 2018

    Skilled nursing providers in the state of Washington, facing financial headwinds in the form of low Medicaid reimbursements, have started reassessing the services they offer to try to stay afloat — with some looking to diversify into behavioral health, and others looking to leave the skilled sector entirely. The state’s current Medicaid system, which took Read More

  • Kansas Takes Over Care Facilities Amid Reports of Insolvency

    Sep 24 2018

    The state of Kansas took over management of a skilled nursing facility in Nortonville, Kan. after reports of insolvency, the Atchison Daily Globe reported. Tim Keck, secretary for the Kansas Department for Aging and Disability Services (KDADS), was granted a a temporary appointment of receivership for several care and residential locations operated by Pinnacle Management Company. The Read More

  • Signature CEO Steier on the Skilled Nursing Chain’s Rebuild, PDPM, and Industry’s Integrated Future

    Sep 23 2018

    Skilled nursing provider Signature HealthCARE faced a a series of financial headwinds over the past two years. The provider’s problems ranged from issues paying the rent to major landlords Sabra Health Care REIT (Nasdaq: SBRA) and Omega Healthcare Investors, Inc. (NYSE: OHI) to a government investigation related to the False Claims Act (FCA). The Louisville, Ky.-based operator, Read More

  • As Underperforming Skilled Nursing Assets Sell, Private Equity Makes a Move

    Sep 20 2018

    Amid all the shakeups in the post-acute and skilled nursing sector, private equity funds and others have seen an opportunity to move into the space — and they haven’t hesitated to take advantage. Much of the focus for private equity and institutional investors has been on senior housing, according to an August report from Fitch Read More

  • Skilled Nursing Drives Record Month for Greystone’s Bridge Loan Volume

    Sep 19 2018

    Greystone & Co.’s health care bridge loan volume hit a record high of $103.22 million in August, accounting for 39% of the company’s year-to-date health care volume. That compares with with a total volume of $128 million in health care bridge loans for Greystone for the entire year of 2017. As of August 2018, the Read More

  • Oklahoma Cities Snap Up Nursing Homes in Gamble for Federal Funds

    Sep 19 2018

    Several small cities in Oklahoma now hold the licenses to operate dozens of nursing homes in the state, in the hopes of getting funds from a federal bonus payment program offered through the Centers for Medicare & Medicaid Services (CMS), Oklahoma Watch reported this week. Licenses for 46 nursing homes in the state are now owned by Read More

  • Low Medicaid Rates Cause Skilled Nursing Crisis in Washington State

    Sep 18 2018

    It’s unlikely that the state of Washington intended to put its skilled nursing facilities on the brink of disaster when it overhauled its Medicaid system in 2016, but leaders of both LeadingAge Washington and the Washington Health Care Association (WHCA) said that’s exactly what has occurred as providers across the state try to keep their Read More

  • Maryland Skilled Nursing Building Sells for $17.25M; $27M LTAC Approved in Missouri

    Sep 18 2018

    Maryland Facility Sells for $17.25M Marcus & Millichap’s Knapp Group Seniors Housing Advisors facilitated the sale of a 145-bed skilled nursing facility in Burtonsville, Md., for $17.25 million. After facing increased management challenges, the not-for-profit Michigan-based owners sold the 62,500 square-foot facility to a Maryland-based LLC that owns and operates several SNFs. Jim Knapp and Joseph Read More

  • California Law Forces Skilled Nursing Owners to Disclose Business Ties

    Sep 17 2018

    California Gov. Jerry Brown on Friday signed a bill that requires skilled nursing owners and leaders to disclose certain business ties, some months after a report by the state auditor that found California “has not adequately addressed ongoing deficiencies related to the quality of care that nursing facilities provide.” The bill, introduced by Democratic Assemblyman Jim Read More

  • Three-Day Stay Rule Generates Up to $447M in Extra Medicare Spending

    Sep 17 2018

    The three-day hospital stay rule required for Medicare to cover subsequent skilled nursing facility stays may have generated millions in extra payments to SNFs, a new working paper from the National Bureau of Economic Research suggests. Medicare will not pay for fee-for-service care provided in a SNF unless the patient has stayed in a hospital for Read More

  • Tryko Adds ManorCare Building in New Jersey; Sale-Leaseback in Chicago

    Sep 16 2018

    Interra Brokers $6M Sale-Leaseback of SNF in Chicago’s West Loop Interra Realty brokered the sale-leaseback of Chicago skilled nursing facility Monroe Pavilion, located in the city’s West Loop, for $6 million, REBusinessOnline reported. The buyer, JK Equities, was represented by David Goss and Lucas Fryman of Interra. The seller, Symphony Post Acute Network, was represented by Jon Read More

  • As Big Skilled Nursing Players Sell, a New Generation of Operators Rises

    Sep 13 2018

    As major players in the skilled nursing space prune their assets or exit the industry altogether, a new crop of owner-operators is stepping up to fill the void. They tend to be young and to have a background in nursing homes, whether as a nurse or as administrator. And though their focus is regional, many Read More

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