The future of non-profits in the skilled nursing space — and the future of non-profit continuing care retirement communities — has been increasingly uncertain, if not outright bleak. Not-for-profit skilled nursing facilities were among the most notable casualties of low Medicaid rates in the state of Texas, while in New York, officials went so far […]
For the second time in less than a month, a national provider of dialysis services has teamed up with a major skilled nursing operator looking to expand its specialty capabilities — with an eye toward rolling out the program in a significant chunk of its buildings. Signature HealthCARE, which has 115 skilled nursing facilities spread […]
Colony Capital, Inc. (NYSE: CLNY) on Thursday announced the successful refinance of a $1.73 billion consolidated loan on its health care portfolio, which includes skilled nursing facilities, senior housing properties, hospitals, and medical office buildings. The new interest-only loan totals $1.52 billion, with a five-year term and a blended interest rate of one-month LIBOR plus […]
Physical therapy provider Quality Therapy & Consultation and four skilled nursing facilities — all in the Chicago metropolitan area — agreed to pay $9.7 million to resolve allegations of False Claims Act violations, the U.S. Attorney’s Office for the Northern District of Illinois announced Tuesday. The settlement and consent judgments resolve allegations that Quality Therapy […]
The federal government hit skilled nursing facilities with a flurry of changes to its quality rating system earlier this year, but by diving into their own data, SNFs can pinpoint how to do better — while making the best use of their limited resources. Some key steps include scrutinizing a facility’s Certification and Survey Provider […]
Officials in New York State have offered a $27 million grant to a non-profit that can help transition nursing home residents into home- and community-based settings. The state’s Department of Health invited qualifying non-profits to submit their ideas for administering a Transition Center program, according to the official request for proposals (RFP). Crain’s New York […]
Though the leasing relationships between real estate investment trusts (REITs) and their skilled nursing tenants have come under scrutiny — and criticism — in recent months, it may be premature to declare their permanent demise. “There’ll be health care — broadly defined — REITs that’ll move in and out of the sector, upsize and downsize,” […]
In a reimbursement landscape where hospitals increasingly look to cut nursing homes out of the continuum of care entirely, a recent study found that it’s possible to predict “with good accuracy and clinical usability” which patients will end up being discharged to a skilled nursing facility. The index — which was developed by researchers from […]
Berkadia closed a $21.7 million bridge-to-HUD loan for the acquisition of two skilled nursing facilities, one of which was located in Idaho. The interest-only loan carries a floating rate with an initial term of 18 months. The facilities, which opened between 2016 and 2017, have an almost 100% Medicare-eligible population and an average occupancy of […]
The skilled nursing industry has — with good reason — thrown much of its energy and focus onto the challenges of the Medicare reimbursement overhaul taking effect on October 1 of this year. But according to one prominent industry leader, the challenges of Medicaid pose a far greater threat to providers — particularly as the […]
The receiver in charge of the Covington Care and Rehabilitation skilled nursing facility — formerly operated by the troubled Skyline Healthcare chain — in Sioux Falls, S.D., will pursue plans to close the property. “After careful assessment and evaluation, the receiver has made the very difficult decision to propose a plan to close Covington,” Black […]
The new Medicare model for skilled nursing facilities more closely links reimbursements with resident conditions — and making sure that facilities completely document those conditions will soon be an essential step for success. But because payment under the current Resource Utilization Group (RUG) system is driven primarily by therapy minutes, capturing those conditions on the […]
A pair of properties formerly operated by the troubled Dycora Transitional Health and Living chain in the Golden State have a new owner. Eduro Healthcare entered the California market with the acquisition of the two former Dycora properties in Fresno and Stockton, Calif. Michael Bewsey, managing partner at the Salt Lake City-based Eduro, characterized the […]
The collapse of a Chicago-area nursing home business resulted in the largest loss in history for the Department of Housing and Urban Development’s (HUD) loan guarantee program for skilled nursing facilities, the New York Times reported Friday — prompting the paper to question the safeguards in place for the program. The nursing home chain in […]
The Texas Legislature failed to pass two bills that would have provided Medicaid reimbursement relief for skilled nursing providers before the end of its most recent session. That could spell trouble for providers in the Lone Star State, which already has a notably low Medicaid reimbursement rate, according to Kevin Warren, president and CEO of […]
HCR ManorCare and Dialyze Direct on Wednesday announced a cooperation agreement that will bring hemodialysis services to HCR ManorCare’s skilled nursing facilities. Dialyze Direct currently offers services in two of ManorCare’s Chicago-market SNFs, ManorCare assistant vice president Eric O’Neill told Skilled Nursing News. The skilled nursing giant is looking to expand the services to two additional […]
Two 120-bed skilled nursing facilities in Houston and Lubbock, Texas — both formerly operated by Senior Care Centers — were leased to two regional operators based in the Lone Star State. The transaction, which was facilitated by the Chicago-based advisory firm Helios Healthcare Advisors, was structured at market lease rates and with pre-negotiated purchase options. […]
Patients are discharged from skilled nursing facilities at notably higher rates around day 20 of their Medicare benefit period, compared with day 19 or day 21, a study published Tuesday in JAMA Internal Medicine found. The authors of the study, who hailed from the University of Pennsylvania and the University of Chicago, studied patients discharged […]
Skilled nursing providers across the U.S. could be forgiven for feeling like they’re trapped in a word problem out of an algebra textbook when assessing the reimbursement for Medicaid patients — often the majority of residents inside a given facility. And despite some promising signs from the federal government, the coming changes to the Medicare […]
In a skilled nursing landscape short on new development and populated with many options for outsourcing components of care, Carespring has made a point of keeping its rehabilitation services in-house — and only expanding through new construction. With 11 total SNFs in Ohio and Kentucky, Carespring is looking to maintain its local presence while growing […]
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