PwC: Welltower-ManorCare Deal Drives Record Year for Health Care M&A

The blockbuster deal by Welltower Inc. (NYSE: WELL) to acquire skilled nursing provider HCR ManorCare with hospital non-profit ProMedica helped drive a record year for health care mergers and acquisitions, according to a new report from auditing and accounting firm PwC. The Toledo, Ohio-based real estate investment trust (REIT) closed on the acquisition in July […]

ICD-10 Coding Will Be Crucial Under PDPM — But SNFs Don’t Need to Become Experts

The Medicare payment model taking effect on October 1 this year represents a sea change for skilled nursing providers in that patient condition, rather than therapy minutes, will drive reimbursement. It also represents a sea change in the mechanics of reimbursement. Under the Patient-Driven Payment Model, ICD-10 codes will form the basis of reimbursements, making […]

Strawberry Fields Buys Two Illinois SNFs for $5.9M

Strawberry Fields REIT this week announced the acquisition of two skilled nursing facilities in southern Illinois for $5.9 million, $4.3 million of which was provided in cash. The properties — Integrity Healthcare of Alton in Alton, Ill., and Integrity Healthcare of Belleville in Belleville, Ill. — have a combined 361 beds. Strawberry Fields has been […]

Centers Sees Skilled Nursing Admissions Boost with ‘Concierge’ Conversions

A patient sent to a skilled nursing facility for rehabilitation usually comes from the hospital, but as the health care system changes, more and more patients will be making choices outside of the acute care setting. That includes decisions about rehab, and with that in mind, Centers Health Care recently launched a concierge rehab program […]

Investing in Specialized Care Will Drive Skilled Nursing Occupancy in 2019

Adding specialized services could be a daunting task for skilled nursing providers coming off of a year of occupancy rate freefall, at least for most of 2018. But as they prepare for the new Medicare reimbursement system, the role of specialization in driving occupancy will only grow. That’s according to a webinar hosted Wednesday by […]

NY Falls Short on Nursing Home Enforcement, State Senator Says

New York is among the top 10 states with the greatest number of nursing homes. But according to one state senator, the Empire State isn’t doing enough to enforce its existing regulations for standards of care — and needs new legislation to bring nursing homes up to speed. State Sen. Robert Ortt, a Republican whose […]

Plum Healthcare Eyes Higher-Acuity Residents with $22.5M Skilled Nursing Development

Building a new skilled nursing facility from the ground up poses some challenges in an industry with ultra-thin margins. But for Plum Healthcare Group in California, it’s an opportunity to address the needs of its current patients, in a way that an older building doesn’t allow. That’s especially true given that the average age of […]

Florida Hospital Opens Standalone Nursing Center; County Takes Over Skilled Nursing Facility in PA

Lehigh County in Pennsylvania will take over the management of daily operations at Cedarbrook Senior Care & Rehabilitation from Good Shepherd Rehabilitation Network, WFMZ 69 News reported. Good Shepherd was in charge of the daily operations at Cedarbrook’s centers in Fountain Hill and South Whitehall Township in Pennsylvania for the past three years, but decided […]

Plum Healthcare Lands $22.5M for New Development; $18.4M Bridge Financing for Kentucky Portfolio

Lancaster Pollard Mortgage Company arranged $22.5 million in development financing for Plum Healthcare Group, LLC to build a new skilled nursing facility in Walnut Creek, Calif. The Columbus, Ohio-based firm worked with a local banking partner on the transaction; Grant Goodman led the transaction for Lancaster Pollard Mortgage Co., along with Joe Munhall, who leads […]

Orianna Close to Wrapping Bankruptcy as Former Owner Returns to Fold

Orianna Health Systems, a skilled nursing operator that entered a protracted and litigious bankruptcy last year, will effectively cease to exist after its plan of liquidation was confirmed last week. In a separate process, the company also transferred the ownership and the operations of 15 remaining facilities owned by the bankrupt operator, legally known as […]

Sanford: Adding Skilled Nursing Provider Good Sam Boosts M&A Profile

Adding skilled nursing provider Evangelical Lutheran Good Samaritan Society could make hospital network Sanford Health even more attractive to other health systems – even as the newly combined non-profit tries to dismantle the silos between acute and post-acute care. That’s according to David Horazdovsky, Good Samaritan’s CEO, and Randy Bury, who transitioned to the role of […]

Behavioral Telehealth Company with 190 SNF Clients Lands Series A Funding, New CEO

A behavioral telehealth company focused on caring for Medicare populations in rural areas — including skilled nursing residents — closed a Series A Preferred growth equity funding round led by Spring Lake Equity Partners. The Novato, Calif.-based Forefront Telecare also added Rob Rebak, who previously served as president and CEO of behavioral telehealth platform AbleTo, as […]

Continuing Healthcare Takes Over Zandex SNFs; New Facilities in Texas and Wisconsin

Continuing Healthcare Solutions, a network of senior living communities based in Middleburg Heights, Ohio, took over seven skilled nursing facilities and an assisted living property that used to be operated by Zanesville, Ohio-based Zandex as of December 28, 2018. The Times Recorder reported the news. Zandex reached a purchasing agreement with CHS after almost three […]

CMS Spells Out Expanded Skilled Nursing Waiver Requirements for ACOs

The Centers for Medicare & Medicaid Services (CMS) provided details this week on what accountable care organizations (ACOs) have to do to receive waivers of the three-day inpatient stay requirement for skilled nursing care in updated guidance. ACOs consist of hospitals, physicians, and other health care providers that band together to provide care to Medicare […]

Even With Software, Hospitals and SNFs Struggle with Care Coordination

Seamless handoffs between nursing homes and skilled nursing facilities are an integral part of care coordination efforts under new payment models — and, in turn, financial success. But new study determines that even when providers have tools to ease patient handoffs, they find them hard to use to achieve their goals — or decline to […]

Citadel Healthcare Acquires ManorCare Facility; Lancaster Pollard’s SNF Bridge Loans

Citadel Healthcare Acquires Illinois ManorCare SNF Citadel Healthcare acquired ManorCare of Northbrook in Northbrook, Ill., for an undisclosed amount, The Daily Herald reported. The facility, which has been renamed The Citadel of Northbrook, is the 10th location for Citadel, according to the publication. The company is based in Morton Grove, Ill., according to its LinkedIn […]

Welcov Healthcare Going Out of Business, Reports Say

Welcov Healthcare, a nursing home and senior living operator based in Edina, Minn., is in the process of “winding down operations,” according to local media reports. The company is going through a reorganization and is in the process of shutting down operations, though it remains committed to two facilities in Torrington, Wy., Welcov president Tom […]

Without Incentive to Share Savings, ACOs Add to SNFs’ Financial Headaches

It’s been a common refrain in the industry: To survive in a health care system increasingly moving to value-based payment models, skilled nursing facilities will have to form strong partnerships with hospitals, health systems, and accountable care organizations (ACOs). But doing that will be difficult if acute care facilities and ACOs aren’t interested in forging […]

New York Lawmaker Moves to Bolster Nursing Home Oversight

New York State Senator Rob Ortt said in late December that he would propose a package of bills aimed at strengthening nursing home oversight in the Empire State. The move was sparked by a series of stories published by The Buffalo News on problems at local nursing homes, as well as by complaints Ortt received […]

Skilled Nursing Turnaround Specialist Sees ‘Continued Distress’ in 2019

The skilled nursing industry was roiled on several fronts in 2018. The new Medicare payment model from the Centers for Medicare & Medicaid Services was a major headline, but the year was also marked by several high-profile bankruptcies, receiverships, and general distress among SNFs. And the leader of a Connecticut-based operator that specializes in managing […]