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 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 (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 […]
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 […]
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 […]
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, […]
Skilled nursing operators will be facing a complete overhaul of Medicare reimbursement from one day to the next when September ends. And to be ready, they need to examine their data collection practices now — from admission strategies to coding accuracy. Providers still rushing to prepare for the coming sea change need to have a […]
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 […]
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 […]
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 […]
Two skilled nursing facilities in Texas formerly operated by Senior Care Centers, which declared bankruptcy last year, were purchased by a New York-based owner-operator group for $20.5 million. The facilities, located in New Braunfels and in Round Rock, Texas, were each built in 2008 and have 128 licensed beds. The SNF in New Braunfels was […]
A judge this week held the management company for the troubled Blue Ridge Rehab Center skilled nursing facility and Blue Ridge Manor assisted living facility in contempt of court, and ordered leaders to turn over records required by the third-party receiver operating the properties. If they fail, the company and its leaders could face fines […]
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 […]
Under the new Patient-Driven Payment Model taking effect October 1, skilled nursing facilities across the country will have to demonstrate their value to patients under a brand-new set of incentives. With therapy minutes no longer driving reimbursement, providers have to be able to offer the best care to a sicker population in order to thrive […]
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 […]
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 […]
Four employees of the Hollywood Hills nursing home in Florida will face criminal charges related to the deaths of a dozen residents due to heat exposure after Hurricane Irma in 2017. The New York Times first reported plans to charge the employees, a group that includes the administrator, a charge nurse, and two other nurses, […]
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 […]
In a health care world of payment evolution and alternative reimbursement models, skilled nursing facilities have been feeling the pinch. There’s pressure to lower length of stay from both Medicare Advantage payers and accountable care organizations (ACOs). Multiple studies have found that ACOs and bundled payment models generate savings for the Centers for Medicare & […]
The Medicare reimbursement overhaul that’s coming in a few short months represents a major change in how skilled nursing facilities are paid for the care that they provide — as well as how officials monitor operators for potential fraud. With the move to the Patient-Driven Payment Model (PDPM), SNFs will be paid based on the […]
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