Posts by Maggie Flynn:

  • 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

  • HIG Capital Acquires Therapy Provider Reliant Rehabilitation Holdings

    Sep 12 2018

    An affiliate of the private equity firm H.I.G. Capital acquired Reliant Rehabilitation Holdings, Inc., which provides therapy services to more than 800 skilled nursing facilities in 40 states. “We’re excited to partner with H.I.G. for the next phase of Reliant’s growth,” Reliant CEO Chris Bird said in a press release announcing the acquisition. “H.I.G.’s healthcare knowledge Read More

  • USDA Approves $34M Loan for New Skilled Nursing Facility in PA

    Sep 12 2018

    A new skilled nursing facility in College Township, Pa. received a direct loan commitment of $34 million from an interesting partner: the U.S. Department of Agriculture (USDA). The USDA approved the commitment for the new Centre Care Health Center, which will be operated by the non-profit Centre Care and replace the existing Centre Crest facility Read More

  • ACOs Push Back on CMS Savings Estimates In New Analysis

    Sep 11 2018

    A new analysis from a group of more than 300 accountable care organizations (ACOs) argues that the groups generated much more in savings than official estimates would suggest. The announcement from the National Association of ACOs (NAACOS) claims that ACOs generated gross savings of $1.84 billion for Medicare, almost double the $954 million estimated by Read More

  • Despite Flat Investor Sentiment, CBRE Sees ‘Abundant’ Skilled Nursing Opportunity

    Sep 11 2018

    Investor sentiment on nursing care in the first half of 2018 held steady from the year-ago period, but the sector has potential for the future, according to commercial real estate services firm CBRE. “As this segment goes through a much-needed transformation, long-term opportunity for yield is abundant,” the firm said in its Senior Housing & Read More

  • Cost of Nursing Facility Care Out of Reach for Most Older Adults

    Sep 10 2018

    The cost of nursing facility care is out of reach for many middle-income families, which can lead to dependence on Medicaid for long-term care, according to the AARP’s Across the States 2018 report. The report offers a profile of long-term services and supports (LTSS) in the U.S., using a range of data sources. For the Read More

  • ACO Announcements Add to Existing Skilled Nursing Pressures

    Sep 10 2018

    Value-based arrangements generate much of their savings by shifting spending away from the post-acute setting, according to recent government announcements. That ups the already-high pressure on skilled nursing facilities to lower patient length of stay while maintaining quality of care. To cope, they’ll have to make themselves invaluable to both referral sources and payers who Read More

  • Strawberry Fields Sees Skilled Nursing Opportunity in $37M Skyline Portfolio

    Sep 09 2018

    Strawberry Fields REIT LLC acquired nine skilled nursing facilities in Arkansas from the Skyline Group and, in a separate deal, one facility in Kentucky — for a combined purchase price of $42.4 million for the 10 facilities. The South Bend-based Strawberry Fields, a real estate investment trust (REIT) that specializing in nursing homes and other Read More

  • Bundled Payment Model Reduced Medicare Spending by Cutting Post-Acute Care

    Sep 06 2018

    Preliminary results from the bundled payment initiative focused on joint replacements suggest that savings under the program has come largely from cutting skilled nursing and other long-term care services. The results from the early stages of the Comprehensive Care for Joint Replacement (CJR) bundled payment model came shortly after an announcement from the Centers for Medicare & Read More

  • SNF Converts to 18-and-Up Assisted Living; Cornerstone Signs Lease in Kansas

    Sep 06 2018

    Virginia SNF Gets Second Life as Assisted Living Facility The Lovingston Health and Rehabilitation Center in Lovingston, Va., was converted into an assisted living center — The Town Creek Assisted Living Center — according to The Daily Progress. The conversion was made by the Region Ten Community Services Board, which provides behavioral health and developmental services throughout central Read More

  • Skilled Nursing Operator Signature Almost Didn’t Survive Malpractice Suits, CEO Says

    Sep 05 2018

    Major skilled nursing provider Signature HealthCARE almost failed because of medical malpractice laws in the state of Kentucky, among several other financial issues, CEO Joseph Steier told Louisville Business First on Tuesday. “There were times in the last year and a half that I didn’t know what the outcome of Signature was,” Steier said in Read More

  • Dialyze Direct Acquires Affiliated Dialysis Centers to Become Largest SNF-Focused Provider

    Sep 05 2018

    Dialyze Direct, LLC, acquired Affiliated Dialysis Centers in a deal expected to close by December 31, subject to customary closing conditions. The acquisition would make Dialyze Direct the largest home hemodialysis provider for skilled nursing facilities in the U.S., according to the company. The terms of the deal were not disclosed. Medicare reimburses for dialysis Read More

  • Genesis Opens Pennsylvania Rehab Location; PruittHealth to Develop in North Carolina

    Sep 04 2018

    Genesis Opens Short-Term Rehab Center in Exton, Pennsylvania Genesis Healthcare (NYSE: GEN) opened its 12th PowerBack Rehabilitation location in Exton, Penn., The Daily Local News reported. The 85,000 square-foot Exton center includes a rehabilitation gym and 120 private suites. It is expected to employ approximately 300 people, according to the publication. The PowerBack Rehabilitation service Read More

  • Higher Star Ratings Don’t Always Translate to Skilled Nursing Census Gains

    Sep 04 2018

    For better or for worse, the federal government’s star-rating system for ranking skilled nursing facilities has taken on outsized importance as preferred provider networks narrow and Medicare Advantage plans demand better and better quality. The ratings from the Centers for Medicare & Medicaid Services, therefore, have become a quick and seemingly formal way to separate Read More

  • BMO Harris Facilitates $51M Term Facility for Illinois CCRC with 84 Skilled Beds

    Sep 03 2018

    BMO Harris Bank’s Real Estate Finance Group announced that it closed on a $51 million facility for Arcapita, Senior Care Development, and LCS to finance the recapitalization of Sedgebrook, a continuing care retirement community in Lincolnshire, Ill. LCS is the parent company of Life Care Services, and has managed the property through that affiliate since Read More

  • $65M Skilled Nursing Facility Planned for California; $30M Vets Center Gets Grant

    Aug 30 2018

     Whittier Health Network Completes 123-Bed SNF in Massachusetts Nauset Construction announced the completion of the 123-bed Port Healthcare Center, a skilled nursing facility owned and operated by Whittier Health Network in Newburyport, Mass. The project’s completion was first reported by Boston Real Estate Times. The 62,000 square-foot replacement facility was completed in fall of 2017, with site Read More

  • Per-Bed Prices for Skilled Nursing Facilities Fall in Second Quarter

    Aug 29 2018

    The skilled nursing sector saw yet another downward trend in the second quarter, this time in the price-per-bed metric as measured by data from the National Investment Center for Seniors Housing & Care (NIC). For the second quarter of this year, the price per bed for skilled nursing facilities sat at $84,200. Though the price Read More

  • Short-Term Care Has Role in Skilled Nursing, But Future Remains Cloudy

    Aug 29 2018

    The shifting tectonic plates in the skilled nursing landscape include a focus on value and a new payment system that puts the focus on medically complex patients and specialties. As providers try to adapt, some have chosen to go all in on a model of care that targets short-stay patients, flying in the face of Read More

  • Specialty ‘SNFist’ Doctors Could Be Key to Landing Referral Partnerships

    Aug 28 2018

    As the nursing home industry roils with changes ranging from the demographic to the governmental, one Illinois skilled nursing facility has put its focus on short-term rehab and transitional care patients. As a result, it depends more heavily on patient volume than most SNFs, necessitating as many referral sources as possible. And as management pursues Read More

  • PDPM Piles the Pressure on Smaller Skilled Nursing Operators

    Aug 27 2018

    The new skilled nursing payment model has received mostly praise from the industry since its finalization in late July, but it could have the side effect of leading more mom-and-pop SNFs to exit the space altogether. It’s important to note, however, that it’s not the only reason they’re leaving. “While PDPM is a big factor Read More

  • Next Generation ACOs Saved Medicare $62M By Cutting Skilled Nursing Spending

    Aug 27 2018

    The Next Generation Accountable Care Organization (ACO) Model netted Medicare about $62 million in net savings in its first year of operations — and cutting spending in skilled nursing facilities was a key driver for the decrease. Centers for Medicare & Medicaid Services (CMS) Administrator Seema Verma first announced the news in a webinar hosted Read More

  • AHI’s Prosky on Skilled Nursing Optimism, M&A Strategies

    Aug 26 2018

    Danny Prosky, one of the co-founders of American Healthcare Investors, Inc., has spent more than 20 years in the field of health care real estate investment — and he remains upbeat about the future of skilled nursing. Skilled Nursing News spoke to Prosky about the state of skilled nursing industry in his capacity as managing Read More

  • Reliant to Pay $6.1M to Settle FCA Claims of Kickbacks to Nursing Homes

    Aug 26 2018

    Reliant Rehabilitation Holdings Inc. agreed to pay the U.S. $6.1 million to resolve claims that it paid kickbacks to doctors and skilled nursing facilities to promote its rehabilitation therapy business, the Department of Justice announced Thursday. Between April 1, 2013 and May 1, 2017, the Plano, Texas-based rehabilitation therapy provider allegedly employed nurse practitioners at Read More

  • ConnectRN Takes a Page from Uber When Tackling Skilled Nursing Staffing 

    Aug 23 2018

    In a skilled nursing landscape dominated by a shortage of workers on every level, a Newton, Mass.-based staffing company is trying to make adding temporary workers as easy as ride-hailing. ConnectRN was founded in 2014 by current CEO Michael Wood, Idriz Limaj, and Agron Ademi. The company uses mobile software to allow registered nurses (RNs), licensed Read More

  • Improving Nursing Care Could Start with Enforcing Existing Laws, Not Passing New Ones

    Aug 23 2018

    The thorny relationship among the skilled nursing industry, consumer advocates, and regulators could be actively thwarting efforts at improving nursing home quality, one expert argued. “In making their respective cases, stakeholders have expressed divergent views about the current state of nursing home quality and, more specifically, the effectiveness of regulatory oversight efforts,” David Stevenson, an associate professor Read More

  • Arizona Skilled Nursing Facility with Behavioral Health Focus Sells for $15M

    Aug 23 2018

    The 211-bed Avalon Southwest Health & Rehabilitation in Tuscon, Ariz., was recently sold for $15 million, or $71,000 per bed. The SNF was owned by a group of investors in San Francisco, who leased it to Avalon Health Care. These investors sold the facility to a Chicago-based owner-operator with roughly half a dozen facilities in Missouri Read More

  • Nursing Care Sees Weakest Inventory Growth Among Seniors Housing Segments

    Aug 22 2018

    Over the last four years, nursing care had the weakest inventory growth out of several senior housing segments, according to a new data analysis from the National Investment Center for Seniors Housing and Care (NIC). The term “nursing care” can include units in facilities that don’t solely provide skilled nursing servicing, such as a continuing Read More

  • REIT Sell-Offs Drive HUD Lending in Skilled Nursing Space

    Aug 21 2018

    The summer months have brought millions of dollars in skilled nursing refinancings and loans insured by the federal government. And though the overall activity level for loans from the Department of Housing and Urban Development (HUD) is roughly on par with the past few years, the ongoing regionalization in the space is a driver of much Read More

  • SentosaCare Takes Over Virginia Facility; $11M Illinois Nursing Home Sale Drags On

    Aug 21 2018

    SentosaCare Takes Over Virginia Nursing Home The former Avante Nursing Home in Waynesboro, Va., is now owned by Webster, N.Y.-based SentosaCare, as of June 1, The News Virginian reported on August 18. The change in ownership came as part of a 10-facility Avante sale announced earlier this year, John Harnack, vice president of human resources for The Avante Read More

  • Meridian Capital’s $210M Financing Across 5 States; New Hospital-Based SNF in Houston

    Aug 20 2018

    Palmer Township, Pa., Recommends Application for New Building The Palmer Township Planning Commission recommended a conditional use application that would allow the construction of a four-story nursing home planned by developer Abe Atiyeh, The Morning Call reported. Atiyeh’s Pennsylvania Venture Capital (PVC) wants to build a 102-bed skilled nursing facility; without the conditional use approval, Read More

  • After-Hours Telemedicine Coverage Saved Skilled Nursing Facility $1.5M

    Aug 20 2018

    Use of after-hours telemedicine in one New York skilled nursing facility reduced avoidable hospitalizations significantly, according to a case study published in the American Journal of Managed Care (AJMC). The study was led by Dr. David Chess, the founder, president, and chief medical officer of Tapestry Telehealth, a company focused on SNFs in rural communities. Read More

  • Good Samaritan-Sanford Merger Clears Regulatory Review, On Pace to Close in 2018

    Aug 17 2018

    The Evangelical Lutheran Good Samaritan Society and Sanford Health cleared government reviews without objection, the companies announced on Friday, marking another step in the merger between the non-profit senior care and hospital heavyweights. The regulatory review included the North Dakota Attorney General’s Office, the South Dakota Attorney General’s office, and an anti-trust review under a Hart-Scott-Rodino Read More

  • Skilled Nursing Providers See Opportunity in Group Therapy Despite Coming Cap

    Aug 15 2018

    The new skilled nursing payment system set to take effect in October of next year includes a 25% cap on group and concurrent therapy services, a limit the Centers for Medicare & Medicaid Services (CMS) argued is needed to ensure patients receive the therapy best suited to their needs and goals. That limit, enshrined in Read More

  • Skilled Nursing Facilities Can’t Just ‘Check the Box’ Under New Payroll Requirements

    Aug 14 2018

    When the Centers for Medicare & Medicaid Services (CMS) began basing its rating of nursing home staffing levels on payroll records in April of this year, many skilled nursing facilities were found to be underreporting their nursing and caretaking personnel levels. Soon after the New York Times published an analysis of the records by Kaiser Health Read More

  • CMS Sends Message with Quick PDPM Approval: Change Is Coming Fast

    Aug 14 2018

    By quickly finalizing the new payment system for skilled nursing facilities, the Centers for Medicare & Medicaid Services (CMS) sent a strong message that the model is final and that the industry will move forward with it. That’s according to a webinar from Minneapolis-based consulting firm Health Dimensions Group (HDG), which last week gave an Read More

  • Skilled Nursing Must Look Past Schools, Government to Solve Workforce Shortage

    Aug 13 2018

    Staffing shortages in skilled nursing facilities made national headlines last month, but the dearth of workers and registered nurses have been a headache for nursing homes for years now. Some of the fixes can range from bonuses for hard-to-staff shifts to higher-level partnerships with local businesses and governments. But one thing is clear: The problem Read More

  • $64.5M HUD Mortgage Closing; Blueprint Makes Moves in Arkansas and Pennsylvania

    Aug 13 2018

    Blueprint Announces SNF sales in Arkansas, Pennsylvania Blueprint Healthcare Real Estate Advisors announced two separate sales of skilled nursing facilities, one in Pennsylvania and the other in Arkansas. The sale of Fairview Care Center of Bethlehem Pike, a 176-bed SNF in Philadelphia, was related to a recent eight-property portfolio sale in the same area, with Read More

  • Skilled Nursing Outcomes Don’t Always Improve Along with Star Rating Gains

    Aug 12 2018

    Hospitalization rates play into the all-important five-star rating for nursing homes, but a new study finds that the two metrics aren’t necessarily correlated. Improvements in nursing home star ratings were not matched by improvements in potentially preventable hospitalizations, according to a study recently published in The Journal of Health Care Organization, Provision, and Financing. Researchers Read More

  • Sabra Continues Genesis Exit, Joins Others in PDPM Support

    Aug 09 2018

    Sabra Health Care REIT, Inc. (Nasdaq: SBRA) joined the chorus of voices praising the new skilled nursing payment model from the Centers for Medicare & Medicaid Services (CMS) on its second-quarter earnings conference call Thursday. “CMS issued their final rule affirming the Oct. 1 2.4% market basket increase and the implementation of PDPM in October of Read More

  • Vita Lands $34.8M in Financing to Buy Two Facilities; NC Building Sells for $6M

    Aug 09 2018

    GMF Capital Buys Former Sabra SNF for $6M GMF Capital purchased Woodland Hill Center, a 100-bed skilled nursing facility in Asheboro, N.C., for $5.95 million, the Triad Business Journal reported. The facility was bought from Sabra North Carolina LP of Irvine, Calif., a subsidiary of Sabra Health Care REIT (Nasdaq: SBRA). The sale was part of an overall Read More

  • Genesis Upbeat About Second Quarter Despite Loss, Offers Praise for PDPM

    Aug 08 2018

    Genesis Healthcare (NYSE: GEN) recorded another net loss for 2018 in the second quarter, but CEO George Hager stressed that Q2 “was a significant and very positive quarter” for the troubled skilled nursing giant. Genesis reported a net loss of $39.61 million, or $0.39 per share, for the second quarter of 2018, compared with a net Read More

  • Nine-Building Skilled Nursing Portfolio Sells for $82M

    Aug 08 2018

    A portfolio of nine skilled nursing facilities, scattered over eight states, sold for $82 million, according to Blueprint Healthcare Real Estate Advisors, an investment advisory firm that specializes in senior housing and health care real estate deals. The portfolio consists of 981 licensed beds, with assets in California, Colorado, Idaho, North Carolina, New Mexico, Rhode Island, Read More

  • Nurse Turnover Dropping in SNFs While Wages Continue Ticking Upwards

    Aug 07 2018

    Registered nurses (RNs) in nursing homes saw higher hourly rates and lower turnover this year, bucking recent retention trends since 2015, according to a new report from the Oakland, N.J.-based Hospital & Healthcare Compensation Service (HCS). In 2018, RNs’ hourly rates rose 3.1%, while turnover fell from 35.69% in 2017 to 33.94% this year. Though an improvement year-over-year, turnover Read More

  • To Avoid Liability, Skilled Nursing Providers Must Avoid Social Media Perils

    Aug 07 2018

    For better or worse, social media has become an integral part of modern life. But the way users act on popular networking sites can lead to potential liability for skilled nursing facilities and other health care institutions. A lurid story about assisted living employees posting to Snapchat in the presence of a dying resident made Read More

  • Hospitals Picking Home Health Over Skilled Nursing Amid Payment Shifts

    Aug 06 2018

    Hospitals that participated in Medicare’s bundled-payment initiatives were particularly focused on getting patients home first and foremost, rather than sending them to skilled nursing facilities, according to a new study published in Health Affairs. That came as a surprise to the researchers, Jane Zhu of the Perelman School of Medicine at the University of Pennsylvania Read More

  • Skilled Nursing Admissions Dropping in Tandem with Lower Hospital Use

    Aug 05 2018

    Admissions to skilled nursing facilities have declined in a manner consistent with a drop in inpatient hospital usage, according to the Medicare Payment Advisory Commission’s (MedPAC) most recent data book. That’s just one of the conclusions from the statistics, released last month by MedPAC — a non-partisan agency that advises Congress on Medicare issues.  For Read More

  • CareTrust Builds Strong Skilled Nursing Pipeline as ‘Logjam’ Starts to Break

    Aug 02 2018

    CareTrust REIT (Nasdaq: CTRE) had a relatively light second quarter for transactions, but the San Clemente, Calif.-based real estate investment trust (REIT) expects to be off the sidelines soon, according to executives on its quarterly earnings call. “Although it was an uncharacteristically quiet quarter for us on the acquisition front, Q2 was one of our Read More

  • Texas Assisted Living Facility Adds Skilled Nursing Beds with a Medicaid Focus

    Aug 02 2018

    Simpson Place Assisted Living expanded its facility in Dallas, adding 50 skilled nursing beds and celebrating with a ribbon cutting last month.. It’s a move that could seem curious given declining skilled occupancy and Texas’ low Medicaid reimbursement rates, but Simpson Place operator StoneGate Senior Living “kind of bucks the trend” in terms of occupancy, according Read More

  • Griffin-American Enters Agreement to Buy $78.5 Million Skilled Nursing Portfolio

    Aug 01 2018

    Griffin-American Healthcare REIT IV Inc. agreed to purchase a 24-facility portfolio consisting of 23 skilled nursing facilities and one assisted living facility for $78.5 million, plus closing costs. The DI Wire first reported on the deal, which Griffin-American entered on July 24. Griffin-American is a publicly registered, non-traded real estate investment trust (REIT) sponsored by American Read More

  • Sapphire Care Group to Take Over 21 Preferred Care Locations in Kentucky

    Jul 31 2018

    Preferred Care Inc., which filed for bankruptcy in November of last year, has transferred its 21 skilled nursing facilities in Kentucky to Sapphire Care Group, The Wall Street Journal reported Monday. Thirty-three of the Plano, Texas-based Preferred Care’s facilities filed for Chapter 11 bankruptcy protection last year in the face of 163 personal injury lawsuits. Read More

  • [UPDATED] Lancaster Pollard Announces $400M Skilled Nursing Refi in California

    Jul 30 2018

    Lancaster Pollard served as the syndication agent on a $400 million refinance of a credit facility for California-based skilled nursing operator Plum Healthcare Group, marking the latest in a string of big-dollar skilled nursing facility portfolio refinancings. Credit Suisse served as the lender for the transaction, working with the Columbus, Ohio-based Lancaster Pollard to design the Read More

  • REITs Take Surprising Lead Role in Active Year for Skilled Nursing Transactions

    Jul 30 2018

    More than halfway through 2018, the skilled nursing transactions landscape has mostly met expectations, but there have been more than a few surprises along the way. The recent deal between Welltower Inc. (NYSE: WELL) and the nonprofit ProMedica Health Systems to take over national operator HCR ManorCare made a splash in the skilled nursing sector when Read More

  • Skilled Nursing Facility’s Assisted Living Sell-Off; Greystone Provides $20.6M Loan

    Jul 29 2018

    Greystone Provides $20.6M Refi to Staten Island SNF Greystone provided a $20.66 million permanent loan insured by the Department of Housing and Urban Development (HUD) to refinance the 238-bed Golden Gate Rehabilitation & Health Care Center in Staten Island, N.Y. The permanent Federal Housing Administration (FHA) financing for the skilled nursing facility carries a 35-year term and Read More

  • HCR ManorCare’s General Counsel Exits Company

    Jul 26 2018

    HCR ManorCare’s general counsel is departing the troubled skilled nursing operator. Richard Parr, who also served as a vice president and secretary for the Toledo, Ohio-based provider, left ManorCare to pursue a new career opportunity, according to an internal e-mail obtained by Skilled Nursing News. Patricia McCormick, who joined ManorCare in 2001 and was promoted to Read More

  • Tweaks to Bundled Payment Model Open Up New Skilled Nursing Opportunities

    Jul 26 2018

    The Centers for Medicare & Medicaid Services (CMS) made some tweaks to the most recent bundled payments program that could boost participation by hospitals and physician groups — and skilled nursing providers should be ready, one expert told Skilled Nursing News. The Bundled Payments for Care Improvement Advanced (BPCI Advanced) initiative was first announced in Read More

  • Centers Looks to Continue Skilled Nursing Turnaround Work in Missouri

    Jul 25 2018

    Centers Health Care’s recent skilled nursing acquisition in Missouri didn’t follow the same pattern as the Bronx, N.Y.-based operator’s growth in the Northeast, but that’s all part of its approach to acquisitions. Last month, the provider acquired three former Serenity Care Group locations in the Kansas City, Mo. market last month, marking the company’s first move into the Read More

  • REIT Sell-Offs, Investor Demand Fuel Strong Skilled Nursing Volume in Q2

    Jul 24 2018

    Portfolio sales drove seniors housing and care volume in the second quarter, and skilled nursing facilities played a major role in that momentum, according to acquisition data from Irving Levin Associates, Inc. The second quarter saw 106 publicly announced seniors housing and care acquisitions, up 35% from the year-ago period and 30% higher than the first Read More

  • Welltower’s $3B Revolving Credit Facility; $40M Acquisition Financing in Ohio

    Jul 24 2018

    Welltower Obtains New $3B Revolving Credit Facility Welltower Inc. (NYSE: WELL) entered into a new credit agreement consisting of a $3 billion unsecured revolving credit facility, a $500 million unsecured term credit facility, and a C$250 million unsecured term credit facility, according to a filing with the Securities and Exchange Commission Tuesday. The Toledo, Ohio-based real estate investment Read More

  • Harborview Arranges $196M HUD Loan for Skilled Nursing, Assisted Living Portfolio

    Jul 23 2018

    Harborview Capital Partners arranged a $196 million Department of Housing and Urban Development (HUD) 232/223(f) refinance loan for a portfolio of 13 skilled nursing and assisted living facilities. The portfolio includes about 1,700 licensed beds. The loan, obtained for a large regional operator who asked to be kept anonymous, was originated by Harborview principals Ephraim and Read More

  • Collaboration on Skilled Nursing Transitions Reduces 30-Day Readmissions

    Jul 23 2018

    A collaborative initiative between nurse practitioners (NPs), doctors, and other medical staff to help patients discharged from a hospital to a skilled nursing facility lowered 30-day hospital readmissions. The Enhanced Care Program fosters collaboration between medical staff and patients in settings where nurse practitioners were available around the clock; medication reconciliation procedures were also followed at the Read More

  • Voice Tech Has ‘A Long Way to Go’ to Meet the Hype in Skilled Nursing

    Jul 22 2018

    Voice technology has promise in senior care, but skilled nursing providers and residents need to keep their expectations tempered, one expert says. When it comes to Amazon’s Alexa voice assistant, Elizabeth Mynatt, the executive director of Georgia Tech’s Institute for People and Technology, has a note of caution. “I think the Alexa is unproven,” Mynatt Read More

  • Carnegie Capital Sources $10M for Georgia Acquisition; $11M Skilled Nursing Refi in Illinois

    Jul 22 2018

    Dwight Capital Provides $4.5M Bridge Financing for Minnesota SNF Acquisition Dwight Bridge Fund, which is managed by the New York-based Dwight Capital’s affiliated investment advisor, financed an assisted living facility (ALF)/skilled nursing facility (SNF) acquisition in Minnesota. DBF provided a $4.5 million bridge loan for the purchase of Caledonia Rehabilitation & Retirement Center in Caledonia, Minn. The 66-bed Read More

  • CareTrust Expands into South Dakota with Acquisition of Former ManorCare SNF

    Jul 19 2018

    CareTrust REIT, Inc. (Nasdaq: CTRE) acquired a 99-bed skilled nursing facility in Aberdeen, S.D., and added the property to its existing master lease with Salt Lake City-based Eduro Healthcare, LLC. The facility, now known as Prairie Heights Healthcare Center, was formerly operated by an affiliate of HCR ManorCare. Eduro took over operations on Wednesday. The total investment was approximately $9.7 Read More

  • CMS Wants to Probe Opioid Use at Skilled Nursing Facilities

    Jul 19 2018

    Amid ongoing concerns about overuse of opioids, the federal government wants to survey nursing home operators about drug safety. The Centers for Medicare & Medicaid Services (CMS) proposed a survey of  1,200 nursing home administrators or directors of nursing, community-based pharmacists, and physicians to evaluate its medication safety and adverse drug event prevention programs — with Read More

  • Illuminate Eyes Regional Skilled Nursing Growth After ManorCare Acquisitions

    Jul 18 2018

    Illuminate HC, which recently took over nine former HCR ManorCare skilled nursing facilities in Michigan, intends to use the deal as the first step toward becoming a regional player. And for now, at least, it has no aims to go beyond that scale. “While once we perhaps aspired to be a national presence with hundreds of Read More

  • PGIM Real Estate Finance Adds to Skilled Nursing Team

    Jul 18 2018

    PGIM Real Estate Finance hired Corley Audorff as a director in its senior housing and health care group, where he will have a specific focus on lending for skilled nursing facilities. PGIM Real Estate Finance is the commercial mortgage business of PGIM, the global investment management businesses of Prudential Financial, Inc. (NYSE: PRU). It has more Read More

  • Ohio Skilled Nursing Facility Sells for $13.5M; Mass. Portfolio Gets $47M in Loans

    Jul 18 2018

    $4.7 Million Raised for New County Skilled Nursing Facility The Door County Medical Center in Sturgeon Bay, Wis., held a groundbreaking ceremony for a new 25,000-square-foot skilled nursing facility, the Door County Daily News reported. The facility is expected to be completed in the next year. Mike Herlache, executive director of the Door County Medical Center Read More

  • Going Beyond Skilled Nursing Boosts Occupancy to 100% at New York Facility

    Jul 17 2018

    At the turn of the century, the New York non-profit Fort Hudson Health System saw opportunities to go beyond its roots as a traditional nursing home provider by expanding into independent housing and home and community-based services. It was a vision that drew Andy Cruikshank, Fort Hudson’s CEO, to take on the role in 2000. Read More

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