$6M Long-Term Care Facility for Inmates Goes Vacant Amid Budget Standoff

A skilled nursing and assisted living facility at the Central Prison in Raleigh, N.C., is sitting vacant amid a budget standoff — despite high levels of state spending on health care for inmates over age 50, according to a report from North Carolina Health News this week. The 46-bed, five-floor facility was converted from mental […]

Balancing Risks, Rewards of Targeting Higher-Acuity Residents in Skilled Nursing

Over recent years, as length of stay and reimbursement have declined in the skilled nursing space, one trend has risen steadily: the acuity of the patient population. It’s a trend that multiple executives in the skilled nursing field have observed, particularly as the industry prepares to pivot toward the new Patient-Driven Payment Model. But it’s […]

Meridian’s $241M Portfolio Deal in the Northeast; Optalis Healthcare Adds Five SNFs in Michigan

Meridian Capital Group this week announced its involvement in a 19-building skilled nursing portfolio deal that saw the New York City-based finance and investment firm provide $241 million in acquisition financing. The portfolio has a total of 2,175 beds, with locations in Massachusetts, New Hampshire, Pennsylvania, Delaware, Maryland, and West Virginia. Meridian’s managing directors, Ari […]

Regional Health Properties Completes 4-SNF Sale for $28.5M; $60M Project Wraps in N.Y.

Regional Health Properties (NYSE: RHE) successfully completed the sale of four skilled nursing facilities in Alabama, Georgia, and Oklahoma for $28.5 million, Blueprint Health Care Real Estate Advisors announced last week. The deal, originally announced last month, initially consisted of three properties for $26.1 million; closing on the fourth property had been extended to late […]

Record-Setting $1.3B Nursing Home Fraud Case Ends in 20-Year Prison Sentence

Philip Esformes, who used to control a network of skilled nursing and assisted living facilities running from Miami to Chicago, was sentenced to 20 years in prison on Thursday. The legal publication Law360 first reported the news. The U.S. Justice Department called the case, which resulted in 20 guilty verdicts in April, the largest single […]

Citing ‘Crushing Rent Burden,’ Skilled Nursing Operator Absolut Care Files for Bankruptcy

Skilled nursing provider Absolut Care — and some of its subsidiaries — filed for Chapter 11 bankruptcy on September 10 in the U.S. Bankruptcy Court for the Eastern District of New York. The East Aurora, N.Y.-based company operates six SNFs and one assisted living facility in the Empire State, with approximately 975 employees, according to […]

Skilled Nursing Sell-Off in Texas Goes Beyond Payment: ‘The Problem is Not the Medicaid Rate’

Texas’s failure to pass a program to increase Medicaid payment to skilled nursing facilities was the latest step not taken in improving the reimbursement in the Lone Star State. The legislation, which would have set up a long-term care quality provider participation program (QPPP) to funnel additional compensation to SNFs for meeting certain quality metrics, […]

Two Arkansas Skilled Nursing Facilities Sue Federal Government Over Arbitration Rule

Two nursing facilities in Arkansas filed a lawsuit last week against the U.S. federal government over the final rule regarding arbitration in skilled nursing facilities, arguing that the newest iteration of the regulation “is just as unlawful” as the 2016 rule that banned the practice altogether. The two plaintiffs are Northport Health Services of Arkansas […]

$169M Skilled Nursing Portfolio Deal in N.J.; Legacy Grows with a Pair of SNFs in Chicagoland

Peace Capital and its affiliated operator Complete Care Management acquired a 930-bed senior living and skilled nursing portfolio in the Ocean County, N.J. area in a $169 million deal. The transaction was financed by a $26 million mezzanine loan from the New York City-based private equity firm Northwind Group, and a $131 million senior financing […]

Why One ACO Wants to Send More Patients Directly to Skilled Nursing Facilities

The shrinking pool of Medicare patients has long been a source of worry for skilled nursing providers, who are battling shortfalls in revenue ranging from low state reimbursement to challenges in billing private insurance companies. In particular, accountable care organizations (ACOs) have come up over and over again as some of SNF operators’ key pain […]

Medicare Spends Significantly More on SNF Stays Than Private Plans — With No Clinical Difference

Commercial insurance payers spend significantly less on post-acute and skilled nursing care — with much shorter SNF stays — compared with Medicare fee-for-service reimbursements. But even though Medicare pays more for post-acute care and SNF stays, there are no significant differences in readmission rates — suggesting that there may not be any clinical benefits to […]

Managed Medicaid Could Compound SNF Headaches in Kansas as Aetna Pledges Improvements

After health care providers reported a range of issues with reimbursement, one of Kansas’s three managed Medicaid insurance companies promised improvement at a recent state government hearing. “Clearly, the feedback we’ve received and some of the issues that have been brought to our attention and some of the issues we’ve seen internally have been extremely […]

$47M SNF Breaks Ground in Tennessee; $5.8M Bridge-to-HUD Loan in Ohio

Officials in Tennessee broke ground on a $47 million state veterans nursing home in a ceremony in Cleveland, Tenn., the Associated Press reported Aug. 22. The 108-bed skilled nursing facility will include six 18-bedroom residential houses linked by interior shared support spaces. The U.S. Department of Veterans Affairs is contributing a $30.5 million grant, while […]

Lorien, the ‘Nursing Home Company That Doesn’t Like Nursing Homes,’ Sees Home Services as Vital to Success

As the population of the United States ages, it’s becoming imperative for long-term care operators to come up with solutions to deal with the coming demographic wave — across a variety of settings. For Lorien Health Services — which offers a range of services from skilled nursing to assisted living to dialysis across nine facilities […]