The Hope Creek Care Center in East Moline, Ill., was listed for sale at $19 million — but county officials confirmed an offer of just $6 million from Aperion Care, the Quad-City Times reported last week. Broker Marcus & Millichap had listed the property, which has an outstanding mortgage debt of $11 million and short-term […]
The chief medical officer at the Centers for Medicare & Medicaid Services (CMS) will be leaving the agency next month to take a new position with health insurance heavyweight Humana (NYSE: HUM). Modern Healthcare first reported the news Thursday. CMS confirmed to Modern Healthcare that Goodrich, who has also served as director of the Quality […]
Lancaster Pollard on Wednesday announced the completion of a $420 million portfolio refinancing for 26 skilled nursing facilities operated by Plum Healthcare Group. The transaction marked the first Department of Housing and Urban Development-backed loan transaction for the Carlsbad, Calif.-based Plum, according to a release announcing the deal. In 2018, the Columbus, Ohio-based Lancaster Pollard […]
With skilled nursing facilities in multiple states facing significant shortfalls in their Medicaid reimbursement, supplemental payment programs used to bolster rates have become a lifeline. This is especially true for Texas and Indiana, both of which employ programs designed to get SNFs a higher rate for Medicaid services through varying mechanisms. Both states are motivated […]
A federal overhaul to the Medicare Shared Savings Program (MSSP), implemented late in 2018, has led to an increase in the number of accountable care organizations (ACOs) taking on downside risk. The redesign of the program, dubbed “Pathways to Success,” generally required new ACOs to take accountability for spending increases after two years; previously ACOs […]
With the federal government looking to crack down on the programs used for shoring up Medicaid reimbursements for nursing homes and other care facilities, billions of dollars could soon be in the balance. States are going to have to take a closer look at their programs, both for the sake of their SNFs and overall […]
The margins for skilled nursing facilities finally broke out of the red and to break-even levels, according to the latest benchmarking report from consulting firm Plante Moran. But occupancy remained stagnant from 2017 to 2018, and staffing costs continue to increase. And Medicaid remains the elephant in the room when it comes to making the […]
A new non-profit society aims to improve education for purchasing directors at post-acute facilities, so they can make better decisions for both the bottom line — and for their long-term future. The approach the organization — the Society for Healthcare Organization Procurement Professionals (SHOPP) — is taking is two-pronged, according to Ari Stawis, director of […]
The acquisition of the skilled nursing operator HCR ManorCare by the non-profit health system ProMedica rocked the skilled nursing world when it was announced in 2018, and many eyes have been on the marriage since. Most industry observers took a wait-and-see approach to how the deal would play out, but some commented soon after the […]
The Department of Housing and Urban Development (HUD) has reached a deal that will see the New York City-based lending and advisory firm Greystone take over a troubled group of nursing homes and one assisted living facility (ALF) associated with the largest default in the department’s history. The New York Times first reported the news […]
Fighting opioid addiction has been a major health care priority over the last decade, and at least one provider in the skilled nursing space says there are options for care at the state level — options that the SNF could help provide. But, at least for now, the regulatory landscape hasn’t caught up to the […]
The federal government extended the deadline for providers — both acute and post-acute — to comment on a proposed rule that would crack down on supplemental payment programs under Medicaid. The new deadline is February 1, pushed back about two weeks from the original end date of January 17. The Centers for Medicare & Medicaid […]
New York made a 1% cut to Medicaid payments starting on January 1, with reimbursements to nursing homes included in the cost-cutting moves — which could soon translate to nearly $500 million in annual spending reductions. The New York Daily News first reported the cuts, which were published in a notice in the New York […]
As skilled nursing facilities work to establish their position in an increasingly value-based health landscape, many are looking at the world of Medicare Advantage as more than a pressure point for billing. They see it as an opportunity to take control of the premium dollar, moving into the business of providing insurance for their patients. […]
For the skilled nursing profession, 2019 will be synonymous with the Patient-Driven Payment Model (PDPM), and the top stories of the year reflect the importance of this shift. But PDPM is one of many moving parts in the skilled nursing world, and operators, landlords, and regulators alike made splashes in ways that had nothing to […]
Thornton Hall Nursing and Rehabilitation, a 60-bed skilled nursing facility located in Norfolk, Va., was sold in a 60-day span. The transaction was sparked by an active skilled nursing investor — with an expanding regional operating platform in the state — who presented an unsolicited offer to acquire the SNF from a client of Blueprint […]
The Good Samaritan Lutheran Health Care Center — which operates a troubled senior living campus with a skilled nursing facility and assisted living property in Delmar, N.Y. — filed for Chapter 11 bankruptcy on December 12 as part of its effort to sell the properties to Centers Health Care. The Times Union first reported the […]
The Medicare Payment Advisory Commission (MedPAC) once again advised that Medicare’s payments for skilled nursing facilities are too high — but also acknowledged the challenges for providers caused by low Medicaid reimbursement. A presentation by Dr. Carol Carter delivered to MedPAC on December 5 examined Medicare margins for SNFs amid the larger contexts of beneficiary […]
When the federal government announced the new system for Medicare reimbursement, skilled nursing operators across the country knew it meant a sea change, especially in the area of rehab and therapy. For Avalon Health Care Group, the Patient-Driven Payment Model (PDPM) meant that it was time to draw on a national perspective on the coming […]
Ciena Healthcare’s newest skilled nursing facility in Westland, Mich., is ready to take patients after several years of construction. Hometown Life first reported on the facility’s opening. The new SNF, the Regency of Westland, will replace Ciena’s Camelot Hall Convalescent Center in Livonia, Mich., with patients at the latter expected to move into the Regency […]