Officials in Massachusetts successfully petitioned to have five skilled nursing facilities operated by the troubled Skyline Healthcare placed in temporary receivership. The receivership petition and order appointing the receiver, which the Massachusetts Office of Attorney General provided to Skilled Nursing News, was approved Monday by a Suffolk County Superior Court judge. KCP Advisory Group LLC […]
Lancaster Pollard provided a $17.3 million loan insured by the Department of Housing and Urban Development to refinance Willow Springs, a skilled nursing facility in Brick, N.J. Tryko Partners was the borrower, having purchased the community from NuVision Management in 2013, REBusinessOnline reported. The facility had 148 skilled nursing beds and an assisted living (AL) […]
Increasing numbers of states have begun exploring managed Medicaid programs as a means of achieving savings as their populations age. But unless officials provide crucial oversight, skilled nursing facilities could find themselves under even worse financial pressures. It’s something that states and their legislators need to keep in mind as they weigh options for managing […]
Roughly 36% of skilled nursing facilities saw a drop in their overall star ratings after planned changes to the Centers for Medicare & Medicaid Services’ (CMS) Nursing Home Compare system took effect on Wednesday. That’s according to a pair of analyses from the American Health Care Association (AHCA), a trade group representing nursing homes, and […]
The state of Illinois bases its Medicaid reimbursements for nursing homes on calculations that are years out of date, leading to financial pressures that have closed 20 facilities in the state since March 2014. That’s according to a new report commissioned by the nursing home advocacy group Health Care Council of Illinois (HCCI). Capitol News […]
A handful of nursing homes in Massachusetts held by the owner of the troubled Skyline chain have seen bounced paychecks in recent weeks — and at least one has had so many nurses’ aides leave that an entire floor had to close, The Standard-Times reported. The Bedford Gardens & Rehabilitation Center in New Bedford, Mass., […]
Oklahoma moved one step closer to boosting Medicaid payments for skilled nursing facilities, with Senate Bill 280 ready to proceed to the Senate for final approval after some floor amendments. Tulsa World first reported the news. Oklahoma is proactively trying to bolster its Medicaid rate, which ranks among the lowest in the country. Several cities […]
Three more skilled nursing facilities operated by Dycora Transitional Health & Living were placed into receivership on Thursday, bringing the total under third-party supervision to 11. The Thomas Seaman Company was appointed receiver for the three latest properties — located in Fresno, Shafter, and Stockton, Calif. — by the San Joaquin County Court. Affiliates of […]
Skilled nursing facilities could get an $887 million increase in aggregate payments in fiscal 2020 under a proposed rule issued by the Centers for Medicare & Medicaid Services (CMS) on Friday. CMS issued a proposed rule that would update the Medicare payment rates and quality programs for SNFs as part of its effort to more […]
Long Term Care Investments VI is pitching a $7 million skilled nursing facility in Merrillville, Indiana, the Times of Northwest Indiana reported. The development would include five residential buildings, each with 12 beds, a dining area, a spa and a beauty salon; 12 of the units in the development would be designated for dementia patients. […]
When the largest independent physician group in the state of New York decided to move into the Next Generation Accountable Care Organization (ACO) model, it recognized post-acute as an area it needed to work on — and decided to include skilled nursing facilities in its plans. CareMount Medical, which is based in Mount Kisco, N.Y., […]
The Green House Project, a non-profit that offers alternatives to traditional nursing homes, this week launched an initiative designed to broaden its reach — including a financial feasibility model and a newfound focus on short-term rehab services. Both financial feasibility and the growth of short-term rehab are looming factors in the skilled nursing world, where […]
AllyAlign Health on Tuesday announced the closure of a $10 million strategic funding round led by McKesson Ventures as the developer and administrator of Medicare Advantage eyes growth. The Richmond, Va.-based firm partners with long-term care providers to launch and maintain Medicare Advantage special needs plans, helping them future provider-sponsored managed care plans. SNFs have […]
The federal government released a breakdown of strategies that accountable care organizations (ACOs) have used to successfully partner with skilled nursing facilities — a move that could indicate policymakers’ continued support of the care models. The Centers for Medicare & Medicaid Services (CMS) recently released a care coordination toolkit for ACOs that drew from focus […]
For at least 15 years, the Centers for Medicare & Medicaid Services (CMS) failed to deal with gaps in the federal oversight of nursing home abuse investigations in Oregon, the U.S. Government Accountability Office (GAO) determined in a management report released on Monday — and officials want a review of state-level rules nationwide. CMS oversees […]
Dwight Capital, a commercial real estate finance firm based in New York, closed several transactions for skilled nursing facilities in the month of March. These included a $3.3 million bridge loan for the 82-bed Victory Health and Rehabilitation Center in Minneapolis, which was bought from a health care real estate investment trust (REIT), and a […]
The Tax Cuts and Jobs Act adds to the financial headwinds already rattling skilled nursing facilities by removing a key deduction without any kind of offsetting mechanism, American Health Care Association (AHCA) president and CEO Mark Parkinson argued in an op-ed published in Bloomberg Tax. Specifically, the tax law limits deductions on loan interest payments […]
A pharmacy company that helped lead the charge to automate medicine dispensing collapsed at the end of last month, leaving some nursing homes with less than a month to find a replacement, the Indianapolis Business Journal reported on Friday. Wellfount Corp., based in Indianapolis, put “Redbox-style vending machines” in SNFs that dispensed medicines, with an […]
Sen. Bernie Sanders this week introduced a bill to create a single-payer health care system for the U.S., a plan that includes long-term care in its scope — but keeps coverage for institutional nursing home care under Medicaid. The legislation would ensure that the so-called “Medicare for All” plan would include benefits for at-home long-term […]
The clinical condition and medical complexities of skilled nursing patients will drive reimbursement under the new Medicare system — giving physician groups that serve skilled nursing facilities the opportunity to have a major impact on the outcomes and success of both the patients and the facilities they serve. But it’s an opportunity they’ll have to […]
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