Posts by Maggie Flynn:

  • Affiliate of Collapsing Skyline Dodges Class Action Suit in Arkansas

    Jun 18 2018

    A federal judge dismissed a possible class action lawsuit against Skyline Highland Holdings, an entity linked to the manager of the collapsing Skyline Healthcare chain, which has seen multiple skilled nursing facilities enter forced receivership in recent months. The case was filed by plaintiffs James Green, Mercedes Anderson, and Brenda Woodard back in August 2017. Read More

  • New Jersey Facility Snags $13.3M Refi; Centre Care Buys Land for 240-Bed SNF

    Jun 18 2018

    Developer Hits Milestone on $60M SNF in White Plains, N.Y. The Congress Companies, based in Massachusetts, is building a $60 million, 160-bed skilled nursing facility in White Plains, N.Y., and celebrated a topping-off ceremony on June 12, the Westchester County Business Journal reported. The construction of the White Plains Institute for Healthcare & Rehabilitation is being led Read More

  • Nursing Homes Settle $24M Medicaid Lawsuit in Rhode Island

    Jun 17 2018

    Rhode Island reached a settlement with 59 nursing homes that sued the state over Medicaid reimbursement cuts, averting a potential $24 million cost to the state over three years. Under the terms of the consent order, Medicaid rates paid to the state’s nursing facilities — for both managed care and fee-for-service — will increase by Read More

  • Skilled Nursing Investors See Stark State-by-State Cost Differences

    Jun 17 2018

    Long-term health care is an inherently local service, and in that context, it’s not surprising that the cost of investing in a skilled nursing facility — as measured on a per-bed price basis — varies wildly from state to state and region by region. But another factor is timing, according to Ben and Brandon Bohland, Read More

  • Florida Operators Face Stiff Competition, Steep Costs to Meet Emergency Rules

    Jun 14 2018

    As the Atlantic hurricane season kicks off, skilled nursing providers in Florida have been working to meet the requirements of the state’s new nursing home generator law. There have been hurdles along the way. The law, first proposed in the wake of the deaths that followed Hurricane Irma at the Rehabilitation Center at Hollywood Hills, became Read More

  • 131-Bed Building Planned for $28M; Maryland Facility Changes Hands

    Jun 14 2018

    Outcome Health Group Buys Maryland LTC Facility The University of Maryland Shore Nursing and Rehabilitation Center at Chestertown, a long-term care (LTC) and rehabilitation facility, changed hands effective June 1, The Kent County News reported. Outcome Health Group purchased the facility, which used to be part of the University of Maryland Shore Regional Health network Read More

  • Payments Will Rise for Most Providers Under New Model, But Some Could Suffer

    Jun 13 2018

    Most skilled nursing facilities can expect a financial gain under the new Patient Driven Payment Model (PDPM), but some are going to have make adjustments to avoid taking a significant hit as incentives shift. “SNFs with a heavy focus on ultra-high therapy and an ultra-long length of stay (LOS) will really need to take a look Read More

  • Eight-Building Skilled Nursing Portfolio in Missouri Sells for $88.2M

    Jun 13 2018

    Griffin-American Healthcare REIT IV, Inc. announced an agreement to buy a portfolio of eight skilled nursing facilities in Missouri for $88.2 million. The portfolio includes facilities in Kansas City, Salisbury, Florissant, Sedalia, Milan, Trenton, Moberly, and St. Elizabeth, Mo., with a total of 1,112 licensed beds. The SNFs offer skilled nursing, residential care and other ancillary Read More

  • Operators Report Rising Length of Stay Pressure Under New Payment Models

    Jun 12 2018

    Skilled nursing facilities are feeling pressure from several fronts to discharge patients within a specified time to meet strict length-of-stay (LOS) goals, according to a study recently published in Health Services Research. Those include Medicare policy changes and market-based pressures, particularly from Medicare Advantage (MA) plans and hospitals participating in accountable care organizations (ACOs) and bundled Read More

  • $55.4M Skilled Nursing Refi in Brooklyn, $29M Loan in Upstate New York

    Jun 12 2018

    Allure Secures $55.4M Refinance Loan for Brooklyn Nursing Home Allure Group secured a $55.4 million refinancing loan for a nursing home in Brooklyn, N.Y., The Real Deal reported. Popular Community Bank assumed the existing unpaid $29 million balance at King David Center for Nursing and Rehabilitation, the publication said, citing property records filed this week. Popular Read More

  • Nursing Homes Fight Back Against Medicaid Cuts with Lawsuit

    Jun 11 2018

    A group of Montana nursing homes and assisted living facilities sued the state Monday to stop cuts to Medicaid reimbursements, The Associated Press reported. As part of spending decreases throughout the state government intended to address a budget shortfall, Montana’s Department of Public Health and Human Services (DPHHS) cut Medicaid provider reimbursement rates in January. In Read More

  • Shifting List of Top-Paid Skilled Nursing CEOs Shows Industry Volatility

    Jun 11 2018

    What a difference a year makes. In 2017, Skilled Nursing News profiled the salaries of the seven highest-paid CEOs at the biggest skilled nursing companies for the previous year. Of those executives, three didn’t make it to the 2018 roundup of the highest-paid CEOs — but that’s mainly a function of the upheaval that’s shaken Read More

  • Elmcroft Data Breach May Have Affected Skilled Nursing Residents, Employees

    Jun 11 2018

    Former skilled nursing and senior care operator Elmcroft Senior Living late last week revealed a data breach that may have exposed the personal information of former patients, residents, clients, and employees. The Louisville, Ky.-based company became aware on May 12 of an unauthorized third-party that had accessed its services in Louisville two days before, according Read More

  • Four-Building Portfolio Sells for $35M; Centers Adds Kansas City Facilities

    Jun 10 2018

    Liberty Village of Rochelle to Hold Groundbreaking for New Facility Liberty Village of Rochelle in Illinois will hold a groundbreaking ceremony for its new Manor Court Skilled Nursing and Rehabilitation Center on June 20, the Rochelle News-Leader reported. The skilled nursing facility is planned for 64,000 square feet and 92 beds, and is scheduled to open Read More

  • Signature HealthCARE to Pay $30M to Resolve FCA Claims Related to Rehab

    Jun 08 2018

    Signature HealthCARE will pay more than $30 million to resolve allegations that it violated the False Claims Act (FCA) by knowingly submitting false claims to Medicare for rehabilitation therapy services. The settlement resolves allegations leveled in a lawsuit by Kristi Emerson and LeeAnn Tuesca, former Signature therapy employees, filed in federal court in Nashville, Tenn., and Read More

  • What Bleak Medicare Predictions Mean for Skilled Nursing

    Jun 07 2018

    The Medicare fund that helps pay for skilled nursing care is projected to run out of funds for full benefits three years sooner than predicted last year, according to a financial review by the Social Security and Medicare boards of trustees. The situation isn’t quite as dire as some headlines have made it sound (one Read More

  • Ensign Grows in Arizona; Operator Gets Break for Skilled Nursing Expansion

    Jun 07 2018

    Ensign Group Acquires Arizona SNF The Ensign Group (Nasdaq: ENSG) acquired the operations of Sun West Choice Healthcare and Rehabilitation, a 140-bed skilled nursing facility in Sun City West, Ariz. The Mission Viejo, Calif.-based provider has a long-term lease on the facility, which was effective June 1, and the deal brings the number of skilled nursing Read More

  • New Nursing Care Units Take Longest to Fill After Opening

    Jun 06 2018

    Despite a surprisingly high median occupancy number, the lease-up rate for nursing care units lags behind the other three key asset classes in the seniors housing and care space. The National Investment Centers for Senior Housing & Care (NIC) found that median occupancy at nursing care units in new properties sat at 92% after 16 quarters of operation — Read More

  • Therapy Providers Agree: PDPM Improves Upon Old Payment Models

    Jun 05 2018

    A new survey of therapy providers found broad support for the new Patient Driven Payment Model (PDPM), with respondents citing it as an improvement over the Centers for Medicare & Medicaid Services’ (CMS) earlier attempts at payment reform. Specifically, the new survey of 134 therapy professionals — including a mix of contract therapy providers and skilled Read More

  • Providers Strike Back at Lawmakers’ Call for Tighter Regulations

    Jun 05 2018

    The skilled nursing industry pushed back strongly against the idea that the Centers for Medicare & Medicaid Services (CMS) has reduced federal oversight of nursing homes, as argued recently by 17 state attorneys general. “There was no rollback of anything,” Dr. David Gifford, senior vice president of quality and regulatory affairs at the American Health Read More

  • Skilled Nursing Operators Demand Rehab Renovations as PDPM Looms

    Jun 04 2018

    With the advent of the Center for Medicare & Medicaid Services’ (CMS) new Patient Driven Payment Model (PDPM), rehabilitation and therapy in the skilled nursing space has come under intense scrutiny. When CMS introduced PDPM in late April, it touted incentives to treat the needs of the whole patient. One side effect of that focus, however, is Read More

  • New Law Allows Video Monitoring in Louisiana Nursing Homes

    Jun 04 2018

    A new Louisiana law allows nursing home residents and their family members to set up video monitoring devices in nursing home rooms under certain conditions. The law was signed by Gov. John Bel Edwards on May 31. The Louisiana Nursing Home Association (LNHA), the state’s American Health Care Association (AHCA) affiliate, expressed support for the Read More

  • Must-Reads: Report Blisters Consulate; Iowa Attempts to Claw Back $25M

    Jun 03 2018

    Local concerns feature prominently in this week’s roundup of must-read news, where we highlight great skilled nursing stories you might have missed in the past week. Consulate investigation USA Today Network — Florida published an investigation into Consulate Health Care as part of its “Neglected” series, which examines nursing home issues in the state of Florida. The Read More

  • Five-Property Lease in North Carolina; Ziegler Secures $52M Refinancing

    Jun 03 2018

    Blueprint Announces Five-SNF Portfolio Lease in North Carolina Blueprint Healthcare Real Estate Advisors announced the portfolio lease of five North Carolina skilled nursing facilities with a total of 638 beds. The owner was looking to diversify its risk through sale or a new lease to a third-party tenant. Blueprint identified an owner-operator that saw the Read More

  • Carnegie Capital Secures $12M for Maryland SNF; Cross-State Merger in NJ

    May 31 2018

    Carnegie Capital Secures $12M Loan to Refinance Skilled Nursing Facility Carnegie Capital, a commercial real estate finance and advisory firm based in Austin, Texas, sourced and structured a $12 million loan to refinance the existing note on a 115-bed skilled nursing facility and free up additional proceeds to upgrade the building. The loan will also be used Read More

  • Larger Skilled Nursing Portfolios Hit Market as Sell-Off Continues

    May 31 2018

    As occupancy declines, managed care grows, and payment models change, larger skilled nursing portfolio deals are cropping up in the mergers and acquisitions landscape. Skilled nursing players are taking notice. “We also continue to see opportunities involving several larger well-known portfolios of skilled nursing assets, and we expect to participate in the marketing process with Read More

  • Kansas Nursing Homes Navigate ‘Weird’ Issues Left in Skyline’s Wake

    May 30 2018

    When Kansas placed 15 skilled nursing facilities operated by Wood Ridge, N.J.-based Skyline Healthcare into receivership in late March, it exposed some immediate problems for the new operator, Mission Health Communities. The Tampa, Fla.-based Mission agreed to oversee operations and took control of the buildings on March 26, though it’s not clear how long it Read More

  • Former NH Nursing Home Pitched as Mental Health Facility for Teens

    May 30 2018

    After a plan to convert a vacant New Hampshire nursing home into a drug treatment center failed amid community blowback, the facility could soon see second life as a mental health facility for teens. The Bennington, Vt.-based group VPI South, which already operates a facility for girls who have experienced prolonged trauma, proposed opening the Gallagher Read More

  • Two-Facility Deal in Florida; Meridian Arranges Financing for Eight SNFs

    May 29 2018

    Blueprint Health Care Announces Two-SNF Deal in Florida The Chicago-based Blueprint Health Care Real Estate Advisors assisted a publicly traded real estate investment trust (REIT) in selling two non-core assets in DeLand, Fla.: University Center East and University Center West. One of the skilled nursing facilities had been flagged as a Special Focus Facility by Read More

  • Revenue Will Decline Under New Model, But Nimble Rehab Providers Can Thrive

    May 28 2018

    Though the skilled nursing landscape under the latest proposed payment model remains unseen, rehabilitation and therapy companies are preparing now for the changes to come. The Centers for Medicare & Medicaid Services’ (CMS) new Patient-Driven Payment Model (PDPM) is expected to incentivize skilled nursing facilities to take on more medically complex patients, and could provide a Read More

  • Skilled Nursing Turnaround Artists Focus on Staff First, Finances Second

    May 24 2018

    A distressed skilled nursing facility could have problems on multiple fronts, but when trying to fix it, operators and owners need to concentrate on the people working there. Any SNF business can be broken down into four major components: physical, operational, clinical, and financial. That’s according to Isaac Dole, founder and managing partner at Chicago-based Birchwood Healthcare Read More

  • Greystone Adds Skilled Nursing Equity Capital Platform

    May 24 2018

    Greystone, a New York-based real estate lending, investment and advisory company, launched Greystone Healthcare Investments, an extension of the firm’s existing health care real estate capital services. The new platform will focus on providing equity to health care facility owners, particularly post-acute care (PAC) and skilled nursing facilities — primarily through the sale-leaseback model, with Greystone Read More

  • Private Pay Skilled Nursing Shouldn’t Be Ignored, Especially in Rural Areas

    May 23 2018

    Private-pay residents are frequently overlooked as a revenue source in the skilled nursing world, and with some cause: They don’t have the staying power of Medicaid or the sizable market share of Medicare or managed care. But ignoring that stream altogether could be a mistake, particularly for operators with more rural locations. “There are so Read More

  • KeyBank Breaks HUD Financing Record for New York Nursing Home

    May 22 2018

    KeyBank Real Estate Capital secured $127 million in Federal Housing Administration (FHA) 232/223(f) financing for a Manhattan skilled nursing facility. It was the largest single-asset financing ever insured by the U.S. Department of Housing and Urban Development (HUD) in the FHA 232 program, which helps finance nursing homes, assisted living facilities and board and care facilities. The loan proceeds Read More

  • One Skilled Nursing Facility’s Turnaround from Two Stars to 97% Full

    May 21 2018

    Five years ago, the Harlem Center for Nursing and Rehabilitation had rooms filled with used and abandoned building materials. Wires were hanging from the ceilings, and some of the showers in patient bathrooms weren’t working. That’s according to Melissa Powell, chief operating officer of the Allure Group, which took over the facility in 2012 and Read More

  • $30M Facility to Open in Miami; Kentucky SNF Sells for $6.5M

    May 21 2018

    Greystone Healthcare Management Announces New $30M Facility in Miami Greystone Healthcare Management announced the opening of a skilled nursing facility in Miami this fall. The center will feature various medical services and specialized orthopedic, cardiac, and stroke rehabilitation programs. Greystone, which manages 28 facilities in Florida, invested $30 million into the 150-bed Kendall Lakes Health and Read More

  • Post-Acute Care Remains a Mystery for Hospital Doctors

    May 20 2018

    Care transitions have become critically important for long-term care providers’ finances, but the world of skilled nursing facilities and home heath settings remains a mystery to many doctors at hospitals — and a pair of hospitalists think there are steps they can take to remove some of the confusion. Christine Jones of the University of Read More

  • Bidding War for County Nursing Home; $11.3M Construction Loan in Vegas

    May 20 2018

    Iowa Nursing Home Draws Three Prospective Buyers The 168-bed Country View nursing and mental health care center in Waterloo, Iowa, has drawn the interest of three companies, which have initially offered to buy it for $5.4 million to $5.6 million, The Courier reported. The nursing home is owned and operated by Black Hawk County. Preliminary Read More

  • Rehab Business Model Will Change ‘Substantially’ Under PDPM

    May 17 2018

    Therapy companies that provide services to skilled nursing patients must radically change their business models if the Centers for Medicare & Medicaid Services’ (CMS) proposed Patient Driven Payment Model (PDPM) is finalized and takes effect next year. That doesn’t mean that rehabilitation services for skilled nursing facilities will go away. But under PDPM, providers will Read More

  • Volume Drops 45%, But Private Buyers Active in Seniors Housing, Care Sector

    May 16 2018

    Private buyers accounted for $1.3 billion in closed transaction volume in the seniors housing and care sector, according to new first-quarter data from the National Investment Center for Seniors Housing & Care (NIC) — though overall mergers-and-acquisition volume took a major tumble. Nursing care transactions included about $900 million in closed deals, while seniors housing Read More

  • Louisville Nursing Home Goes for $3.5M; Two Texas Facilities Sell for $29M

    May 16 2018

    New Jersey-based LLC Buys Louisville SNF for $3.5M The Englewood Cliffs, N.J.-based The Portopiccolo Group LLC purchased a 98-bed post-acute care (PAC) and skilled nursing facility in Louisville, Ky., for $3.5 million, Louisville Business First reported. The purchase was made through an affiliate, Jeffersontown Propco LLC, according to Jefferson County documents. The facility was sold by Read More

  • Senior Care Workforce Almost 90% Female, But Demographics Are Changing

    May 15 2018

    Women account for the vast majority of health care workers in the senior living space — though the proportion of young male workers is on the rise, a new analysis from senior living industry group Argentum found. Female employees accounted for 89% of health care workers, with 40% of all workers between the ages of 30 and 49. Read More

  • Omega Gets Approval to Transition Majority of Orianna Portfolio

    May 14 2018

    Real estate investment trust (REIT) Omega Healthcare Investors (NYSE: OHI) received approval from the U.S. Bankruptcy Court for the Northern District of Texas to transition 23 of 42 facilities operated by its skilled nursing tenant, 4 West Holdings, Inc., to new operators. 4 West Holdings, known with its affiliates as Orianna Health Systems, entered Chapter 11 Bankruptcy in March. Read More

  • Preferred Care Asks for Extension on Bankruptcy Restructuring Plan

    May 14 2018

    Nursing home operator Preferred Care, which filed for Chapter 11 bankruptcy protection in November of last year for 33 of its SNFs, is seeking a court order to extend the deadline for filing a restructuring plan to Sept. 10. The current deadline is June 11. It is the debtors’ second request for an extension of the exclusivity periods Read More

  • Specialties, Complex Patients Get Boost Under New CMS Payment Model

    May 14 2018

    Skilled nursing facilities that can serve more medically complex patients will be rewarded under the Centers for Medicare & Medicaid Services’ (CMS) proposed Patient-Driven Payment Model (PDPM), according to a new white paper from Integra Realty Resources’ health care and senior housing practice. The proposed model, announced late in April, draws from a previously proposed model, the Resident Classification Read More

  • Why Yelp Could be Superior to Five-Star Ratings for Nursing Homes

    May 13 2018

    Researchers at the University of Southern California believe Yelp nursing home reviews are a useful tool in helping prospective residents or their family members make decisions about facilities, The New York Times reported Friday. Though reviews posted on Yelp and other online platforms such as Google or the recently acquired are not perfect, the issue Read More

  • Ensign Nabs Phoenix SNF; Capital One Handles $13.2M HUD Refinancing

    May 13 2018

    Phoenix Skilled Nursing Facility Goes to Ensign Affiliate Blueprint Healthcare Real Estate Advisors announced the sale of the 128-bed Plaza Del Rio in the Phoenix suburb of Peoria to an affiliate of The Ensign Group (Nasdaq: ENSG). The seller was a Florida-based senior living developer and philanthropist who held the facility in a charitable remainder trust. Read More

  • Sabra CEO: ‘Old Testament’ Almost Over As Genesis Exodus Wraps

    May 10 2018

    Sabra Health Care REIT (Nasdaq: SBRA) on Thursday expressed optimism about the Centers for Medicare & Medicaid Services’ (CMS) new skilled nursing payment model and stressed its focus on executing its divestiture programs — particularly its sale of facilities operated by Genesis Healthcare (NYSE: GEN). Under the new model, incentives shift from short-term rehab to complex Read More

  • Leader Would Be ‘Stunned’ If Budget Passes and Nursing Home Evictions Begin

    May 09 2018

    More than 30,000 nursing home residents in Louisiana are slated to receive notices that they could lose their Medicaid eligibility starting on Thursday as a result of budget cuts that passed the state’s House of Representatives. But the president of one provider organization would be “stunned” to see the budget pass the state Senate and Read More

  • CareTrust Sees ‘Better Returns and Brighter Future’ For Skilled Nursing

    May 09 2018

    CareTrust REIT (Nasdaq: CTRE) touted the resolution of tenant issues and predicted a brighter future for skilled nursing on its first-quarter earnings conference call — even with lagging deal volume in the sector. The real estate investment trust (REIT) was upbeat about completing a planned Ohio operator swap that saw Pristine Senior Living and Post-Acute Care replaced with new Read More

  • Miami Skilled Nursing Facility Sells for $31M; $75M Loan for N.Y. Portfolio

    May 08 2018

    Greystone Closes $75M Loan for Acquisition of 561-Bed Portfolio Greystone, a New York-based commercial real estate lending, investment and advisory company, provided a $75 million loan for the Optima portfolio of three skilled nursing and rehabilitation facilities in the New York City metropolitan area. The loan, insured by the Department of Housing and Urban Development Read More

  • Bridging the ‘Disconnect’ Between Skilled Nursing Operators and Landlords

    May 07 2018

    As multiple skilled nursing tenants struggle to pay their real estate investment trust (REIT) landlords, a Chicago-based real estate management company is looking to change the model of skilled nursing leases by getting its operators to see it as a partner. For Mozart Healthcare, the goal is to be “on the ground with our operators,” Read More

  • ManorCare Mega-Deal Blurs Care Lines, But Will Doctors Buy In?

    May 06 2018

    When assessing the deal struck by Welltower (NYSE: WELL) to acquire Quality Care Properties (NYSE: QCP) and by ProMedica to acquire HCR ManorCare, outsiders should look at whether the players can pull off a genuine team-based approach to care. That’s according to Bob Kramer, founder of the National Investment Center for Seniors Housing & Care (NIC). The Read More

  • If Forced to Take Risk, Most ACOs Would Leave Shared Savings Program

    May 06 2018

    More than 70% of accountable care organizations (ACOs) likely would leave the Medicare Shared Savings Program (MSSP) if they were forced to assume risk, a new survey from the National Association of ACOs (NAACOS) found. The web-based survey reached out to the 82 ACOs that started the MSSP in 2012 or 2013 and which will have Read More

  • Ohio Portfolio Sells for $45M; Premier’s $30.8M Pickup

    May 06 2018

    $45M Portfolio Sale in Ohio A five-property skilled nursing portfolio in northeast Ohio sold for $45 million, or approximately $62,000 per bed, Blueprint Healthcare Real Estate Advisors announced. Blueprint executed the sale for a publicly traded real estate investment trust (REIT) and a national operator; the buyer was a growing regional provider that had an Read More

  • Two-Sided Risk Key to Telehealth’s Promise in Skilled Nursing

    May 03 2018

    Telehealth has promise for long-term care facilities in rural areas, but a new risk model may be needed to fully realize the technology’s potential, according to testimony at a hearing before the U.S. House Ways and Means Committee that focused on innovation in health care. Rep. Adrian Smith, a Nebraska Republican, noted the significance of Read More

  • Skyline to Exit Skilled Nursing Space as Another State Takes Over

    May 02 2018

    The Pennsylvania Department of Health appointed temporary leaders at nine nursing facilities that were operated by Skyline Healthcare after the department determined that Skyline no longer had the money to run the facilities. “We have installed temporary management at all nine facilities to ensure residents will continue to receive safe care,” Secretary of Health Dr. Rachel Levine Read More

  • Skyline Healthcare Collapsing in South Dakota, Could Dissolve Soon

    May 01 2018

    The South Dakota Department of Health filed a motion for Skyline Health Care to turn over its assets and income after residents at its 19 facilities in the state were put at risk, The Aberdeen (S.D.) American News reported, citing court documents. Debbie Menzenberg, a licensed nursing home facility administrator and a divisional vice president in charge of Read More

  • JV Picks Up 32 Care Homes in Canada; $20M Campus Sale in Dallas

    May 01 2018

    Revera and Axium Form JV to Own 32 LTC Homes in Canada Revera and Axium Infrastructure completed a joint venture (JV) transaction to share ownership of 32 of Revera’s long-term care (LTC) homes in Ontario, Alberta, Manitoba, and British Columbia. Revera, a senior living owner, operator, and investor, will continue to run the homes. Independent portfolio manager Read More

  • Ohio Operator Uses Clean Energy Financing For SNF Upgrades

    Apr 30 2018

    In an era of tight financial constraints for skilled nursing facilities, one owner-operator turned to a unique funding source to offset construction costs — and set up savings for the future. Premier Health Care Management, which owns and operates nine skilled nursing facilities with 961 beds in southwestern Ohio, is using the state’s Commercial Property Read More

  • 5 Facilities Change Hands in N.Y.; Lancaster Pollard Sets Up $23.4M Refinance

    Apr 29 2018

    Five-SNF Portfolio Sale in Alabama Blueprint Healthcare Real Estate Advisors announced the portfolio sale of five skilled nursing facilities in Alabama from a national owner based in New York. The buyer is a real estate investor, which partnered with the regional operator Blue Ridge Healthcare. At the time of the sale, the portfolio had a Read More

  • Managed Care Plans See Skilled Nursing as a Commodity, Not a Partner

    Apr 29 2018

    Experts are increasingly calling on skilled nursing facilities to step up and tout their worth in the new value-based health care landscape. But skilled nursing facilities may not have that much influence to wield, particularly when it comes to the growing force of managed care, one expert says. “As an industry, SNFs have no leverage Read More

  • Saber Snaps Up 10 Nursing Homes in Pennsylvania, Plans Multi-Million Upgrades

    Apr 25 2018

    Saber Healthcare Group took over the operations of 10 Pennsylvania nursing homes from the non-profit Oak Health & Rehabilitation Centers, Inc. Affiliates of Formation Capital will remain the landlords of the facilities. The Philadelphia Inquirer first reported on the transaction. The lease structure with the Cleveland-based Saber is “entirely new,” with an initial term of 10 years, Read More

  • Monticello Provides $45.3M Financing; Two Illinois SNFs Sell for $5.5M

    Apr 25 2018

    Monticello Provides $45.3M Financing for NY Portfolio An affiliate of Monticello Asset Management landed $45.3 million in first-lien debt financing for a company that’s acquiring a skilled nursing facility and two adult day care facilities, ABL Advisor reported. The SNF has 242 beds and offers skilled nursing services and physical, occupational and speech therapies. The mortgagor, Read More

  • Facilities Grab Increased Share of Hospital Discharges

    Apr 24 2018

    Despite concerns about the rise of home health in the era of value-based care, institutional post-acute care (PAC) use among Medicare beneficiaries actually rose between 2000 and 2015 — while discharges to the home fell over the same time period, according to a research letter published in JAMA. Specifically, the adjusted percentage of nearly 138 Read More

  • Consulate Reaches Agreement to Preserve 55 Florida Nursing Home Licenses

    Apr 23 2018

    Consulate Health Care reached an agreement with the Florida Agency for Health Care Administration (AHCA) to improve quality and protect its portfolio of nursing homes from being penalized for failures at two facilities, The Ledger reported. “We are grateful for the partnership between Consulate and the Agency for Health Care Administration,” Jennifer Trapp, vice president of Read More

  • Genesis Sells 51% Stake in Chinese Subsidiary for $30 Million

    Apr 23 2018

    Genesis HealthCare has signed a definitive agreement to sell 51% of its Chinese subsidiary, GRS-HS, to Riswein Health Industry Investment for $30 million. The deal is expected to close in the first quarter of 2019, subject to regulatory and licensing approvals and other customary conditions. GRS-HS will seek approval for a new, wholly owned foreign Read More

  • As Managed Care Grows, Skilled Nursing Providers Have Leverage

    Apr 22 2018

    Skilled nursing providers are adding value for managed care payors, and they need to be willing to tout it in contract negotiations, according to one executive. “[Managed care] is coming your way,” Anthony Laflen, director of data analytics at Consonus Healthcare, told a room full of nursing home operators at LeadingAge Illinois’ annual conference in Schaumburg, Ill. Read More

  • Avante Group Plans to Sell Batch of Facilities to SentosaCare

    Apr 22 2018

    Avante Group, a nursing home group based in Hollywood, Fla., is selling all six of its facilities in North Carolina, with an effective closing date of June 1. SentosaCare, based in Webster, N.Y., is the proposed buyer, the Winston-Salem Journal reported, and the number represents a reduction in Avante’s footprint by half. Avante submitted a Worker Read More

  • Lancaster Pollard Secures $23.1M Refi; Drug Rehab Moves into Nursing Home

    Apr 19 2018

    Greystone Real Estate Advisors Closes $6.3M SNF Sale in Texas Greystone Real Estate Advisors closed the sale of Nazareth Living Care Center, which was purchased by Chicago-based Mozart Healthcare, LLC for $6.3 million. Nazareth Hall, a non-profit Texas corporation, was the seller. The skilled nursing facility in El Paso, Texas, has 124 licensed beds, and Paramount Healthcare Read More

  • Data is Essential for Skilled Nursing Facilities to Thrive in New World

    Apr 18 2018

    In the face of the changing payment landscape, skilled nursing providers can’t afford to put off data collection. In fact, there’s a lot of information gathering they must be doing now to adapt to value-based payments, Bundled Payments for Care Improvement (BPCI), the rise of Medicare Advantage (MA), and a host of other changes, Leah Read More

  • One in Five Ohio Nursing Home Residents on Medicaid is Under 65

    Apr 18 2018

    Nursing homes in Ohio are seeing younger residents use the facilities, with one in five long-stay Medicaid residents below the age of 65, according to a study from Miami University’s Scripps Gerontology Center. The study, recently covered by Crain’s Cleveland Business, focused on Medicaid residents who stay for 100 days or more, using data from the Centers Read More

  • Extra CMS Stars Decrease Chances of Long-Term Nursing Stays

    Apr 17 2018

    Post-acute residents in skilled nursing facilities with excellent quality ratings are much less likely to transition to long-term care (LTC) than those in lower-quality SNFs, according to a study published last week in the Journal of the American Geriatrics Society. “Individuals in SNFs with excellent quality ratings had 22% lower odds of transitioning to LTC Read More

  • Illinois Supportive Living Facilities Lock in $55.3M in HUD Loans

    Apr 17 2018

    Housing & Healthcare Finance (HHC Finance), a commercial finance company based in Washington, D.C., closed four Department of Housing and Urban Development (HUD) loans totaling $55.3 million for a portfolio of four supportive living facilities in Illinois. Two of the facilities serve the 65-and-older market, and the level of care provided at the facilities falls somewhere Read More

  • Traditional Lenders Take ‘Selective’ Approach to Skilled Nursing

    Apr 16 2018

    Headwinds are ripping the skilled nursing industry from the ground up, and financing is no exception, according to a debt financing panel at the National Investment Center for Seniors Housing & Care Spring Investment Forum in Dallas. “We are being selective in our approach to skilled nursing and there’s no two ways about it,”  Jeff Read More

  • MidCap Closes $75 Million Mortgage Loan for 18 Genesis Facilities

    Apr 16 2018

    MidCap Financial Closes First Mortgage Loan on 18 Genesis SNFs MidCap Financial, a middle market-focused commercial finance company, closed a $75 million first mortgage loan with Genesis HealthCare, Inc. (NYSE: GEN). The floating rate loan is secured by 18 skilled nursing facilities across eight states with 2,153 operating beds, and is part of a $630 Read More

  • Perceived Risk Hides Potential Upsides for Skilled Nursing Investors

    Apr 15 2018

    The headlines for the skilled nursing sector include such uplifting topics as bankruptcies, lawsuits, and declining occupancy — to name just a few — and are enough to make any investor think twice about putting money in the industry. But “the perceived risk is higher than actual risk” in the sector, at least according to Read More

  • Skilled Nursing Providers Could See Higher Insurance Bills

    Apr 15 2018

    Long-term care (LTC) and senior living providers won’t catch a break — at least on liability insurance rates — in 2018, according to a new report from advisory firm Willis Towers Watson. The insurance rates for LTC and senior living operators are expected to increase anywhere from 5% to 20% this year, and in “deteriorating Read More

  • Troubled Skyline Highlights Problems with Under-the-Radar Skilled Nursing Operators

    Apr 12 2018

    Skyline Healthcare’s troubles in Nebraska and Kansas have highlighted how large companies in the nursing home industry have abandoned the business to lease bunches of facilities to unknown firms. The Philadelphia Inquirer took a deep dive into Skyline’s takeover of more than 100 nursing home sites across multiple states — and the general lack of information about Read More

  • Nursing Care Occupancy Rate Inches Upward in First Quarter

    Apr 12 2018

    Nursing care occupancy improved from the fourth quarter of 2017, according to new data from the National Investment Center for Seniors Housing & Care (NIC). The nursing care occupancy rate improved from 86.2% in the fourth quarter to 86.5% in the first quarter of 2018. The annual inventory growth rate for nursing care, on the other Read More

  • Unlike in Other Settings, Telehealth Could Spur Skilled Nursing Savings

    Apr 11 2018

    The use of telehealth services is commonly floated as a way to improve care and reduce health care spending at skilled nursing facilities, particularly rural ones. But there are several factors that drive the effect of telehealth on medical spending, and in practice, spending will drop only in specific situations, according to an opinion piece Read More

  • Golden Living Shopping $33M Corporate Office for Sale or Lease

    Apr 11 2018

    Golden Living placed its corporate administration building in Forth Smith, Ark., up for sale or lease on Tuesday, with real estate broker CBRE hired to handle the property. Golden Living is expected to maintain a presence in Fort Smith, Pat Powell, vice president of Human Resources at Golden Living, told the Times Record. However, staffing Read More

  • Blueprint Pulls Off Multi-Stage Sale, Private Direct Lender Floats $6M

    Apr 10 2018

    Blueprint Announces Wisconsin SNF Sale Blueprint Healthcare Real Estate Advisors announced the sale of the skilled nursing facility Nu-Roc Community Healthcare in Forest County, Wis. The community was stabilized at the time of the sale, with occupancy of more than 95% and a rating of five stars from the Centers for Medicare & Medicaid Services (CMS). Blueprint Read More

  • Group Warns U.N. of ‘Widespread’ Anti-Psychotic Abuse in Nursing Homes

    Apr 10 2018

    Inappropriate anti-psychotic drug use in U.S. nursing homes is “widespread” and requires immediate action, a report submitted to the United Nations alleges. The Long-Term Care Community Coalition (LTCC) submitted the report last week as an update to a 2015 look at anti-psychotic use in nursing homes, finding little change since the non-profit last tackled the Read More

  • Operators See Opening to Shape Managed Care Policy in States

    Apr 09 2018

    Managed care is on the rise in both Medicare and Medicaid, but skilled nursing and long-term care (LTC) providers don’t necessarily need to play catch-up. In fact, they have room to influence the direction of managed care in their states, according to a panel at the National Investment Center for Seniors Housing & Care (NIC) Read More

  • States Focus on Maintaining Services Amid Skyline Receivership

    Apr 09 2018

    Last week approximately 1,650 nursing home workers in Nebraska received paychecks after Cottonwood Healthcare, known as Skyline Healthcare, failed to make payroll in late March. The funds went out on Friday, Ken Klaasmeyer of Klaasmeyer & Associates Inc. told the Omaha World-Herald. Klaasmeyer & Associates was appointed to manage the facilities while a long-term plan is developed for Read More

  • Ohio SNF Sells for $11M; StoneGate Adds Eight New Oklahoma Contracts

    Apr 08 2018

    StoneGate Announces Eight New Contracts in Oklahoma StoneGate Senior Living, a senior care and housing company based in Lewisville, Texas, added eight new properties to its lineup in Oklahoma, contracted from Southwest Healthcare. The communities offer a range of services, including skilled nursing and rehabilitation. As a result of the additions, StoneGate now contracts with Read More

  • Gaps Remain in Post-Acute and Long-Term Care Performance Measures

    Apr 08 2018

    Gaps remain in performance measures for post-acute care (PAC) and long-term care (LTC), particularly with regard to care coordination and information exchanges, according to a report from the non-partisan National Quality Forum’s (NQF) Measure Applications Partnership (MAP). Though performance measures are key for payment reform and sparking quality improvements, PAC and LTC settings have differing Read More

  • Flexible Part-Time Staffers Could be Future of Skilled Nursing Workforce

    Apr 05 2018

    Implementing a flexible model of staffing could help skilled nursing providers deal with the lows — and potential highs — in occupancy that are expected over the next several years. But to do that, they’ll have to overcome competition from outside sectors, the need to deal with higher-acuity patients, and the complexity inherent in flexible Read More

  • Welltower Approaches Record in Florida, $18.7M Sale in PA

    Apr 05 2018

    Welltower Subsidiary Pays $130M for South Florida Senior Living Facility  Welltower Jefferson Propco TRS, a subsidiary of the Toledo, Ohio-based Welltower (NYSE: WELL), purchased the 527-bed senior living complex Stratford Court near Boca Raton, Fla., for $130 million, or $246,679 per unit. The site spans 447,948 square feet and includes independent living, assisted living, skilled nursing, and memory care. Read More

  • When Considering a Specialty, Providers Need to Think Big and Small

    Apr 04 2018

    As the incentive for operators to take on residents with more complex health issues grows, major skilled nursing players see a path forward in boosting their clinical capabilities. Custodial long-term care is on the way out, Sabra Health Care REIT (Nasdaq: SBRA) CEO Rick Matros said last year at a major industry conference. Meanwhile, skilled nursing provider Read More

  • Providers Move Into Insurance to Ride Medicare Advantage Momentum

    Apr 03 2018

    As Medicare Advantage continues to capture a greater share of seniors, some skilled nursing providers are looking to get a head start by becoming insurers themselves. Operators have found institutional special needs plans (I-SNPs), a special type of Medicare Advantage program that covers beneficiaries in need of in-home nursing care or confined to an institution, Read More

  • Citing Regulatory Challenges, Drug Rehab Operator Backs Out of Nursing Home Lease

    Apr 03 2018

    Rosecrance Health Network, a non-profit behavioral health provider, decided last week against leasing a wing of the Champaign County Nursing Home in Urbana, Ill., for use as a temporary residential addiction treatment center. The Illinois Department of Public Health (DPH) took too long in deciding whether or not to approve the lease, which would have started April Read More

  • Harborview Arranges $63M Loan, CA Community Sells for $19M

    Apr 01 2018

    Harborview Arranges $63M Bridge-to-HUD Loan for Brooklyn SNF Harborview Capital Partners arranged a $63 million bridge-to-HUD loan for a skilled nursing facility and two adult day care centers in Brooklyn, N.Y., REBusinessOnline reported. The loan refinances existing debt, and the borrower, who was undisclosed, plans to add a new rehabilitation gym to the facility. Kalesta Health Care Read More

  • Planners of Nursing Home for Veterans Face Multiple Unknowns

    Mar 29 2018

    The state of Wyoming cleared the way for studies on the feasibility of a skilled nursing center for veterans, a facility that the state currently lacks. “Our concern is in the future, what will be the need for skilled nursing?” Col. Steve Kravitsky, director of the Wyoming Veterans Commission (WVC), told Skilled Nursing News. “Even Read More

  • Kansas Proposes Taking Over 15 Nursing Homes Due to Operator Issues

    Mar 28 2018

    The Kansas Department of Aging and Disability Services (KDADS) is requesting the power to take over 15 nursing homes after their operator told the state it cannot make upcoming payroll. The nursing homes were operated by Wood Ridge, N.J.-based Skyline Healthcare, which was unable to make payroll at 21 nursing facilities in Nebraska. Those facilities were Read More

  • Louisiana Rejects Proposal to Shift Skilled Nursing Residents to Home Care

    Mar 28 2018

    The Louisiana Legislature on Tuesday rejected a bill that would have shifted the state’s long-term Medicaid model to a managed care system in an attempt to move more skilled nursing residents to the home-care setting. The Senate Health and Welfare committee voted down Senate Bill 357 in a 6-2 vote, The Advocate of Baton Rouge, La. reported. The bill Read More

  • Tracking Skilled Nursing Patients to Save Money and Avoid the Hospital

    Mar 27 2018

    Under considerable pressure to demonstrate their worth as the health care system moves to value-based care, skilled nursing providers are monitoring patients more closely — even after discharge. For some providers, that takes the form of a new nursing role. For others, it’s a more extensive networking endeavor. But the common focus is transitions of Read More

  • Skilled Nursing Providers Must Brace for Medicare Advantage Wave

    Mar 27 2018

    Medicare Advantage isn’t going away, and skilled nursing facilities need to be prepared for the resulting operational challenges, according to a new report from Lancaster Pollard (LP). LP, a Columbus, Ohio-based financial firm, pointed to recent troubles at Kindred Healthcare (NYSE: KND), which announced its exit from the skilled nursing industry in 2017; Genesis Healthcare, (NYSE: Read More

  • Chain of 21 Nursing Homes Placed in Receivership

    Mar 26 2018

    A chain of 21 nursing homes is now under the control of a third-party receiver after its owners failed to make payroll. Nebraska officials placed the Cottonwood Healthcare chain under receivership March 23, according to a Monday report in the Omaha World-Herald. Officials at the state’s Department of Health and Human Services (DHHS) were alerted Read More

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