2021 Will See ‘Many Facilities Fail’ Without Federal, State Help

Nursing home and senior living providers in the not-for-profit sector are facing significant strains from the surge in COVID-19 nationwide. Leading into the Thanksgiving holiday, operators are pleading with those in the community to refrain from gathering amid challenges both operational and financial. “Nursing homes really are at the brink,” Deke Cateau, the CEO of […]

CareTrust’s $47.6M Texas Portfolio Purchase; New Management for Five Genesis SNFs in Vermont

CareTrust REIT (Nasdaq: CTRE) acquired four post-acute care facilities in the Dallas-Fort Worth area for $47.6 million, inclusive of transaction costs, in an off-market deal, the San Clemente, Calif.-based real estate investment trust (REIT) announced last week. The portfolio includes 554 skilled nursing beds and 24 assisted living beds across Beacon Harbor Healthcare & Rehabilitation […]

New Medicare Claims Analysis Reveals Depths of COVID-19’s ‘Double Whammy’ Effect on SNFs

When elective surgeries were halted or suspended in spring in an attempt to preserve hospital capacity, the number of patients leaving the hospital setting dropped significantly — and the number of patients leaving that setting for skilled nursing fell by nearly half as well. A new analysis of all Medicare fee-for-service claims data from January […]

Feds Look to Expand Special Focus Facility List of Poor-Performing Nursing Homes, Create New Ranking System

The two U.S. senators who last year released a “secret” list of nursing homes under consideration for inclusion on a formal list of facilities with major quality issues are now calling for expanded oversight of poorly performing skilled nursing facilities in the wake of the COVID-19 pandemic. Sens. Pat Toomey and Bob Casey, both of […]

Eagle Arc’s 20-SNF Purchase; KeyBank’s $40M Financing in New York City

Eagle Arc Partners, formerly known as BM Eagle Holdings, has acquired 20 skilled nursing facilities — the majority of which are located in Florida, along with properties in Georgia and Mississippi. The price of the sale was not disclosed; two operators who were also not disclosed partnered with Eagle Arc on the sale. The process […]

As Admissions Stall and Aid Dries Up, ‘Losses are Coming’ for Nursing Homes in ‘Bleak’ First Half of 2021

The steps taken by regulators to cut red tape for skilled nursing facilities during the COVID-19 pandemic have been extremely helpful in stabilizing operations, and the financial support from various rounds of stimulus funds has kept balance sheets steady. But with COVID-19 surging again in many parts of the U.S. and occupancy seemingly flatlining, the […]

NHI Sees ‘Tale of Two Cities’ as Nursing Homes Benefit from Federal Aid — and Senior Living Lags Behind

The real estate investment trust (REIT) National Health Investors, Inc. (NYSE: NHI), offered a concise take on the varied impacts of the COVID-19 pandemic for the senior housing and skilled nursing sectors while reporting its third quarter results Tuesday. “The difference between skilled nursing and senior housing is like a tale of two cities,” Eric […]

A Year into PDPM and Many Months into COVID, Respiratory Therapy Waits for ‘Industrywide Embrace’

When the Patient-Driven Payment Model (PDPM) overhauled the way Medicare reimburses care provided in skilled nursing facilities, the federal government attempted to put the focus on the care needs of patients — and in doing so, incentivized facilities to capture patient conditions more thoroughly and add to their clinical specialties. At least, that was the […]

Ensign Grows in Texas; $38.4M in Financing for Four Illinois Skilled Nursing Facilities

The Ensign Group, Inc. (Nasdaq: ENSG) acquired the real estate and operations of the 82-bed skilled nursing facility The Medical Lodge of Amarillo in Amarillo, Texas, effective November 1. Kevin Niccum, President of Keystone Care LLC, Ensign’s Texas-based subsidiary, said in a release announcing the deal that the company expects the facility to be accretive […]

Verma Pushes Back on Criticism of CMS Response to Life Care COVID Outbreak: ‘Our Inspection Was Critical’

The nation’s top Medicare official took to Twitter to respond to a mainstream news report critical of the federal government’s handling of the first major COVID-19 outbreak at a skilled nursing facility. “60 Minutes” this past Sunday profiled that outbreak — which devastated a Life Care Centers of America facility in the Seattle suburb of […]

Omega Collects ‘Virtually All of Our Contractual Rents’ in Q3, But Stresses Importance of Government Support

Omega Healthcare Investors (NYSE: OHI) collected 99% of its contractual rents for the third quarter of 2020, but stressed the ongoing importance of government support for the long-term care sector as critical to operators’ ability to treat and care for residents during the COVID-19 pandemic. “We reiterate that the timely and significant government support provided […]

COVID Test Refills Flowing to Nursing Homes, But Supply Concerns Loom Amid Spikes and Workforce Shortages

As cases climb across the country, community spread will send increasing numbers of counties into the so-called yellow and red zones — in turn, requiring more and more skilled nursing facilities to test staffers according to the September guidelines from the Centers for Medicare & Medicaid Services (CMS). As of the most recent CMS data […]

Amid COVID Strains, LTC Properties Records $5.5M Write-Off From Genesis and Unnamed Operator

LTC Properties (NYSE: LTC) joined other real estate investment trusts (REITs) in recording a third-quarter hit from doubts about the future of Genesis Healthcare (NYSE: GEN). However, the $5.5 million write-off in straight-line rent receivable balances was tied to both Genesis and an unnamed operator, with both leases transitioned to cash-basis accounting as of September […]

Parkinson: Even with Successful Vaccine, Census Recovery Will Take ‘A Couple Years’

While many sectors of the U.S. need a successful vaccine to truly recover from the effects of the COVID-19 pandemic, it is especially paramount for skilled nursing facilities, Mark Parkinson, president and CEO of the American Health Care Association (AHCA), said on Friday. Parkinson made that point during a guest appearance on the third-quarter earnings […]

Ensign CEO Port Sees Improvement in ‘Sentiment Toward Post-Acute Care’ Even Amid COVID Surges

Even as COVID-19 surges across the U.S. heading into fall, The Ensign Group (Nasdaq: ENSG) expressed confidence that its model of local leadership can weather the storm — and provide significant operational and financial returns. Despite facing a surge of COVID-19 over the third quarter in some of its largest states — Texas, Arizona, and […]

Private Equity-Backed Nursing Homes Log Similar COVID Outcomes as Other Facilities, But Less PPE

Nursing homes owned by private equity (PE) firms had COVID-19 outcomes comparable to facilities with other ownership structures, including similar staffing levels, case counts, and COVID-19 deaths — as well as deaths from any cause, according to a study published October 28 in JAMA Network Open. The study examined 11,470 nursing homes in the U.S. […]