Because of delays by the Illinois government in processing Medicaid coverage applications, the non-profit operator of a skilled nursing facility that closed a year ago is now declaring bankruptcy. The State Journal-Register reported the news August 16th. The state of Illinois made headlines last year for a multi-million Medicaid eligibility backlog, and it already had […]
In the state of Kansas, nursing homes have fallen into the position of serving as part of the mental health care system, amid a dearth of care options for those in need of such services, according to a Monday report by Kansas News Service. “The nursing homes serve as sort of a midpoint between state […]
Managed care and Medicare Advantage companies can be a sore spot in the skilled nursing world, but as the sector evolves, a subsidiary of a major insurer is looking at how to reward facilities for providing quality care — while keeping in mind the financial pressures that providers face. CareMore Health, a subsidiary of Medicare […]
Though data sharing between acute and post-acute care facilities remains a frustration for operators and patients alike, the PAC space may actually be running ahead of their hospital counterparts when it comes to using in technology. That’s according to a new white paper from Toronto-based software provider PointClickCare (PCC) on patient transitions, which examined data […]
With the new Medicare overhaul set to take effect on October 1 and the recent finalization of a Medicare rate boost for fiscal 2020, leaders at Invesque Inc. (TSX: IVQ.U) were upbeat about the future of its skilled nursing facilities in its second-quarter earnings call Thursday. In its earnings release, Invesque highlighted the formation of […]
A new model for reducing unnecessary transfers from skilled nursing facilities to hospital emergency departments (ED) drastically cut hospitalizations and ED use — albeit with a very small sample size. Three SNFs made use of the Reducing Avoidable Facility Transfers (RAFT) model from January 1, 2016 and June 30, 2017, as detailed in a study […]
White Oak Healthcare Finance secured an $81 million credit facility for 14 skilled nursing facilities owned by GMF Capital, White Oak announced last week. The transaction included a $66 million senior credit facility to refinance the properties, located in Ohio and Kentucky, along with a $15 million line of credit for the operating company. GMF […]
Though skilled nursing facilities have experienced significant pain under the structures of alternative payment models such as accountable care organizations (ACOs), they still have the opportunity to show value. But it’s something of an uphill road, according to Harvard Medical School professor and Medicare Payment Advisory Commission (MedPAC) member David Grabowski. “I absolutely think that […]
When Mission Healthcare Communities took over 15 distressed skilled nursing facilities in the state of Kansas last year, it leaders didn’t consider turnaround projects as a specific focus of its business. At the time, the Tampa, Fla.-based Mission had one goal for the properties: to stabilize them and get them ready for new ownership. The […]
Genesis HealthCare (NYSE: GEN) reported improvement in its 2019 second-quarter financial results, and CEO George Hager is optimistic about the second half of the year — in part because of the skilled nursing operator’s participation in the Medicare Shared Savings Program (MSSP) as an accountable care organization (ACO). The skilled nursing giant, which operates about […]
CareTrust REIT (Nasdaq: CTRE) emphasized the importance of local knowledge for skilled nursing operators in its second-quarter earnings call held on Wednesday, both in the case of a planned operator switch in Ohio and in the skilled nursing market more broadly. Specifically, the San Clemente, Calif.-based real estate investment trust (REIT) is looking to sell […]
A major post-acute provider association in the state of Maryland has partnered with an analytics company to form a network of skilled nursing facilities, with the goal of generating millions in Medicare savings for the state of Maryland. The network will span the state of Maryland and connect approximately 60 to 80 SNFs and their […]
As more hospitals discharge patients directly to home and lengths of stay decline, some skilled nursing facilities are looking at home health and home care as a way to take more control of the patient experience. Starting a home health agency has some attractive perks for SNFs: The move allows them to get more insight […]
Regional Health Properties, Inc. (NYSE American: RHE) completed the sale of three SNFs in Oklahoma, Alabama, and Georgia to affiliates of MED Healthcare Partners LLC for $26.1 million in cash. The closing date on a fourth property involved in the deal, located in Oklahoma, was extended to August 28. Regional Health used the proceeds from […]
In a nod to the importance of data under the Medicare reimbursement overhaul coming October 1, a Texas skilled nursing provider is adding data analytics to all of its facilities — more than 70 throughout the Lone Star State. Creative Solutions in Healthcare, based in Fort Worth, Texas, and Real Time Medical Solutions earlier this […]
Skilled nursing providers, seeking more control over their own destiny and the premium dollar, have been driving the growth of a specific subtype of Medicare Advantage plan designed for the care of patients in the institutional setting. But Jason Feuerman, senior vice president for strategic development and managed care at nationwide operator Genesis HealthCare (NYSE: […]
If skilled nursing facilities want to improve their relationship with managed care payers — particularly the ever-expanding Medicare Advantage plans — they have to ensure that they understand the payers’ pain points. And they have to battle the reality that in the Medicare Advantage world, post-acute barely registers on insurers’ radar screens because it’s a […]
As patient acuity climbs and referral sources become more choosy about their skilled nursing partners, a variety of tech tools have emerged to help providers looking to improve their clinical outcomes and thrive in a value-based world. But to do that, they’ll have to overcome the challenge of implementing technology in the long-term care setting […]
KeyBank Real Estate Capital secured $45 million in Federal Housing Authority (FHA) loans for the refinancing of three skilled nursing facilities in the state of Texas. The loans were $16 million for the 120-bed Regency-Windsor Calallen in Corpus Christi, $14.5 million for the 120-bed Regency-Bastrop Nursing & Rehabilitation Center in Bastrop and $14 million for […]
Preferred provider networks of skilled nursing facilities, embedding staff onsite and conducting so-called “warm handoffs” were among the strategies that top accountable care organizations (ACOs) use to manage costs in the SNF and home health care setting. Because Medicare spending is expected to surpass $1.5 trillion by 2028, more than double the spending of $708 […]
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