$37.8M Financing for Two SNFs in New Jersey; Lancaster Pollard Lands Multiple Loans

Lancaster Pollard Mortgage Company helped provide financings for skilled nursing facilities in Michigan and South Carolina, while also landing a $42 million Fannie Mae refinance for a continuing care retirement community (CCRC). In Michigan, Lancaster Pollard assisted Riverview Health with the refinance of two of its communities in Detroit. Lancaster Pollard obtained two loans through […]

As PDPM Nears, Providers Can’t Rely on Sunny CMS Projections to Succeed

As the implementation date draws nearer for the overhaul of the Medicare reimbursement system, some providers have found comfort in government projections about their revenue under the new model. But that comfort might be misplaced, according to a webinar held Wednesday by Minneapolis.-based consulting and management firm Health Dimensions Group. The Centers for Medicare & […]

Welltower Gains Confidence in Post-Acute as Industry Fundamentals Improve

Executives at Welltower Inc. (NYSE: WELL) are becoming more confident in the post-acute business, noting that skilled nursing acquisition prices have increased. In fact, in the past 12 months, the company has gone from being “an opportunistic buyer to opportunistic seller,” at least when it comes to skilled nursing, Welltower chief investment officer Shankh Mitra […]

Daybreak Rent Deferrals Hit Omega’s Bottom Line in Fourth Quarter

Omega Healthcare Investors, Inc. (NYSE:OHI) once again ran into problems with skilled nursing tenant Daybreak Venture in the fourth quarter of 2018, with the Denton, Texas-based operator underpaying about $4 million in rent. The Hunt Valley, Md.-based real estate investment trust (REIT) reported fourth-quarter net income of $64.9 million, or $0.31 per common share, compared […]

Questions Remain About Pennsylvania’s Vetting of Skyline Healthcare

Questions are swirling about Pennsylvania’s approval process for nursing home owners after Wood Ridge, N.J.-based Skyline Healthcare collapsed less than a year after the state Department of Health signed off on the company. That’s according to a deep dive from The Reading Eagle, published on Sunday. Four years before Joseph Schwartz, the owner of the […]

New Jersey Eases Nurse Licensing Laws Amid CNA Shortage in Nursing Homes

New Jersey Gov. Phil Murphy on January 31 signed into law a bill that allows nursing aides with out-of-state certifications to use their licenses to care for people in the Garden State. The bill was sponsored by Republican state Sen. Robert Singer. “The number of job openings for certified nursing assistants is staggering,” Singer said […]

Landlords Voluntarily Took Back Seat in Welcov Bankruptcy

To facilitate the transfer of Welcov Healthcare’s 22 skilled nursing facilities to new operators, the provider’s landlords agreed to take a back seat to vendors in the repayment line, with the goal of resolving an unusual bankruptcy proceeding. That’s according to court documents and a recorded hearing, which detail the transfer of operations and the […]

CareTrust Buys Campus for $9M; New Owner on Deck for SNF in Receivership

CareTrust REIT (Nasdaq: CTRE) on Tuesday announced the $9 million acquisition of the Oakview skilled nursing and supportive living campus in Mt. Carmel, Ill. The community features 90 skilled nursing beds and 38 supportive living facility beds, according to a deal announcement from the San Clemente, Calif.-based real estate investment trust (REIT). CareTrust will install […]

Skilled Nursing Management Company Settles FCA Claims for Nearly $10M

Tennessee Health Management, Inc., which operates 27 skilled nursing facilities in the Volunteer State, agreed to pay $9.76 million to settle allegations that it violated the False Claims Act. The agreement was announced by U.S. Attorney Don Cochran for the Middle District of Tennessee. “Enforcement of the False Claims Act remains a priority of the […]

Backed by $39M Financing Round, EarlySense Sees Future Where Post-Acute Drives Tech Innovation

As health care becomes increasingly data-driven, skilled nursing facilities have to find ways of gathering data on their patients — while working with tight budgets and dealing a workforce crunch. Technology providers, with services ranging from electronic medical records (EMR) to telehealth to remote monitoring, have stepped up to try to address the need. But […]

Oklahoma Joins Growing List of States Seeking More Nursing Home Funding

Three bills in the Oklahoma Legislature would increase funding for skilled nursing facilities while mandating a staffing increase, adding the Sooner State to a growing list of U.S. states that are trying to address funding shortfalls for nursing homes. The Oklahoman reported the news. On average, the state pays about $23 less than the cost […]

Ohio Nursing Home with $15M in Debt Placed in Receivership

The Eden Springs nursing home in Green Springs, Ohio, was placed in receivership after lender CIBC filed foreclosure actions against several limited liability corporations connected to the facility, The Toledo Blade reported. The complex features a long-term acute care hospital, skilled nursing facilities, a long-term acute care hospital, an assisted living facility, and a pharmacy, […]

CCRC Sees New Skilled Rehab Unit as Selling Point When Pitching to Baby Boomers

Several continuing care retirement communities (CCRCs) have been dropping or scaling back the skilled nursing care they provide, even though the full-service continuum of care forms a key selling point for their operators. There are numerous reasons. One is the role of government reimbursement in skilled nursing, as well as staffing issues — both were […]

iCare Sees Potential in Skilled Nursing Facility Bought Out of Receivership

A skilled nursing facility in Hartford, Conn., is getting a second life after receivership, with iCare Health Network assuming operations this past Friday. The 150-bed SNF, which used to be known as Park Place Health Center, will operate under the name Parkville Care Center. The facility was part of Spectrum Healthcare, which underwent bankruptcy twice, […]

South Dakota Nursing Home Leaders See ‘Statewide Disaster’ Without Medicaid Increase

Nursing homes in the state of South Dakota are facing a $42 million annual shortfall in Medicaid reimbursement, which has led to the closure of several facilities. Without an increase, industry leaders said, the closings could lead to “statewide disaster.” The Argus Leader first reported the story. Nine nursing facilities have already closed, two are […]

More Winners Than CMS Expects Could Emerge Under PDPM

The government has predicted a mix of winners and losers under the new Medicare payment model taking effect later this year. But due to the impact of payment changes on provider behavior — both past and future — there could end up being more winners under the new system than regulators expect. Specifically, under the […]

AllyAlign CEO: I-SNPs Will Form ‘Permanent Pillar’ in Changing Skilled Nursing World

The exponential growth of Medicare Advantage (MA), with its lower reimbursements and greater length-of-stay pressure, has been a thorn in the side of many skilled nursing providers. As part of a bid to wrest back control, SNFs are increasingly looking to become insurance providers, driving the growth of individualized Medicare Advantage options as they move […]

County Nursing Home Gets $6M for Back Bills; Welcov Facility in SD Sold

The Champaign County Board approved roughly $6 million in nursing home expenses for the Champaign County Nursing Home in Urbana, Ill., The News-Gazette reported. The board on January 15 voted to appropriate $1.98 million to pay off bills to nursing home vendors that dated as far back as fiscal 2015; it also voted to write off […]