A Centers for Disease Control and Prevention (CDC) advisory committee on immunization on Tuesday voted to recommend that health care personnel and long-term care residents get first priority on a COVID-19 vaccine, when it is authorized. The CDC’s Advisory Committee on Immunization Practices (ACIP) voted in favor of offering a COVID-19 vaccine first to health […]
Some aspects of the nursing home world do not change even during a global pandemic, and that includes the need to manage relationships with multiple payers. Several managed care organizations (MCOs) are now sending in their new contracts to skilled nursing providers as old agreements expire, Chad Bogar, the founder and CEO of the law […]
MONTICELLOAM, LLC and its affiliates announced $42.08 million in first lien debt financing for the acquisition of a skilled nursing facility in Virginia. The transaction includes a $3.5 million working capital loan for the operating companies, provided by Monticello Commercial Capital, the real estate and asset-based lender, asset manager and servicer’s asset-based lending group. The […]
The skilled nursing sector has been roiled by the pandemic, but it’s also proven itself to be a critical part of the care continuum for patients coming out of a hospital stay. For Rick Matros, the CEO of the Irvine, Ca.-based real estate investment trust Sabra Health Care REIT (Nasdaq: SBRA), that won’t necessarily be […]
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 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 […]
In the early months of the pandemic, masks for medical personnel were in such short supply that providers, states, and the federal government were all bidding against each other to secure them. Gowns were so hard to come by that reports surfaced of nursing home workers using trash bags as makeshift coverings. The government attempted […]
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 […]
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 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 […]
Oxford Finance LLC announced the closing of a $9.5 million senior credit facility and revolving line of credit to AB Asset Management LLC and Vitalogy Property Holdings LLC to finance the acquisition of two skilled nursing facilities in Wisconsin with 158 beds in total. To acquire the properties, Vitalogy formed a partnership with AB Asset […]
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 […]
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 […]
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 […]
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 […]
In the years just prior to the arrival of a global pandemic that uniquely affects skilled nursing facilities, many providers were interested in expanding their role in the provision of care by moving into the insurance field. And even though the toll of COVID-19 has sent costs spiraling for those operators who made the leap […]
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 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 […]
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 […]
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 […]