Skilled Nursing Operators Can Find Success Under the ‘Quite Similar’ PDPM and I-SNP Models

The Patient-Driven Payment Model (PDPM) overhauled the way skilled nursing facilities are paid for their services to Medicare fee-for-service patients when it took effect last year – removing therapy as a driver of reimbursement and putting an emphasis on patient conditions. That gives it more than a passing resemblance to a lightning rod in the […]

$46.8M for SNF/Adult Day Portfolio in New York; Hospital Seeks SNF Buyer Amid Medicaid Cuts

MONTICELLOAM and its affiliates provided a $46.8 million first-lien debt financing to refinance a skilled nursing property and two adult day care facilities with a combined 407 beds in New York. The deal includes a $3 million working capital loan to the operating company of the properties, which was provided by Monticello Commercial Capital, LLC, […]

Sale of Six Absolut Facilities Approved in Bankruptcy Court; $23M SNF Opens in Detroit

The U.S. Bankruptcy Court for the Eastern District of New York approved RCA Healthcare Management to take over six Absolut Care nursing home sites, starting with a consulting agreement beginning March 1 with the current owners of Absolut. Buffalo Business First reported the news last week. Absolut filed for Chapter 11 bankruptcy protection last fall, […]

Matros: ‘We All Knew PDPM Wasn’t Going to Be Revenue-Neutral,’ Doesn’t Expect CMS Clawback

Sabra Health Care REIT Inc. (Nasdaq: SBRA) is optimistic about how the new Medicare reimbursement for skilled nursing facilities will play out among its operators – even if the new Patient-Driven Payment Model (PDPM) doesn’t quite have the results the federal government expected. Specifically, the Irvine, Calif.-based real estate investment trust (REIT) is seeing PDPM […]

After ‘Frenzied’ Year-End of Skilled Nursing Deals, PDPM and Continued Upheaval Likely to Drive More M&A

The pace of skilled nursing transactions kicked up several notches as 2019 rolled to a close, and multiple deal announcements have crossed the wires to start 2020. Abbey Mansfield Ruby, who recently joined the law firm Waller Lansden Dortch & Davis, LLP as partner at its Nashville office, sees the transaction boom as a continuation […]

With Backing from Kaiser Permanente, Post-Acute Tech Firm IntelyCare Wraps $45M Funding Round

A software provider targeting the workforce shortage in the nursing field raised $45 million in a Series B funding round, building off earlier fundraising with the goal of continuing its expansion over the past 12 months. The Quincy, Mass.-based IntelyCare provides a platform via app for matching nurses and certified nursing assistants (CNAs) with shifts […]

Verma Touts Low SNF Provider Terminations, Wants to Give Operators Chance to ‘Turn Things Around’

The head of the Centers for Medicare & Medicaid Services (CMS) touted the agency’s changes around enforcement of quality and safety standards in a blog post published on Tuesday, as part of a series on its five-part strategy to improve care in nursing homes across the country. The strategy’s components include: strengthening oversight, enhancing enforcement, […]

$76.6M Portfolio Sale in Florida; Genesis Partners with Sava

Cushman & Wakefield facilitated the sale of a 10-property senior housing portfolio, consisting of assisted living and skilled nursing properties, for $76.6 million, REBusinessOnline reported. The portfolio includes 1,289 beds and was sold by ADME Investment Partners; Robert Kaplan and Mark Rutherford of Cushman & Wakefield represented ADME. The buyers were not disclosed. The skilled […]

To Turn the Page on Tragedy Under Previous Operator, Philosophy Care Focuses on Transparency, Track Record

Turning around a struggling nursing home is no easy task, and that task becomes more challenging when the skilled nursing facility’s struggles played out in national headlines. But for Philosophy Care Group, the challenges of taking over a troubled facility were mitigated by the presence of a strong staff — and by the knowledge that […]

New York Nursing Home Providers Could See CON Tax Hike on New Buildings

Health care providers — including skilled nursing operators — in New York could see a new 3% surcharge on all new facilities under the governor’s proposed budget for fiscal 2021. The New York Post first reported the news earlier this week. The 2020-2021 executive budget proposes setting a certificate of need (CON) fee of 3% […]

Skilled Nursing Finance Vet: If CMS Isn’t ‘Measured’ on Medicaid Crackdown, Operators Face ‘Quite a Blow’

When it comes to the buying, selling, and financial backing of skilled nursing facilities, the new chief development officer of Senior Living Investment Brokerage has seen all angles. Steve Gilleland, who joined the Glen Ellyn, Ill.-based SLIB at the beginning of the month, worked on the lending side of skilled nursing and senior housing in […]

New York to Pull Nursing Home Residents Out of Managed Medicaid — While Also Pursuing More Spending Cuts

After a tense year of standoffs between New York nursing home providers and the state government, Gov. Andrew Cuomo outlined his budget for the new fiscal 2021 with an eye toward curbing rapidly-expanding Medicaid spending. The budget doesn’t propose specific cuts to the Medicaid program, but Cuomo’s goal is to achieve $2.5 billion in savings […]

Why 2020 Could Be the Year of PDPM Exits — and the Skilled Nursing-Led ACO

The consulting firm Avalere Health, based in Washington, D.C., has had a front-row seat for the changes shaping the health care world, including the post-acute sphere. For skilled nursing facilities, many of those changes have felt like one punch after another, ranging from the rise of Medicare Advantage enrollment to the federal government’s encouragement of […]

Skilled Nursing Operators See Disaster Ahead As CMS Takes Aim at Medicaid-Boosting Provider Taxes

The federal government has proposed a rule governing the use of Medicaid supplemental payments for nursing homes that could have drastic effects on the reimbursement they receive. But the ripples of the rule don’t stop there. They could also overhaul the taxes that providers pay in several states — taxes that in turn contribute to […]