Skilled nursing facilities are facing increasing pressure to be more aware of the full spectrum of a patient’s care, with the rise of value-based purchasing (VBP) programs and accountable care organizations. And when the new Patient-Driven Payment Model takes effect on October 1, that won’t be possible if individuals are making decisions on their own. […]
The changes in Medicare reimbursement taking effect in October will mean upheaval in more places than a skilled nursing facility’s billing department. It will mean changes in the nuts-and-bolts processes of patient care, and SNFs need to be preparing for this reality — with the knowledge that regulators will be watching closely. That’s according to […]
Skilled nursing facilities officially have until the end of March to submit corrections related to their quality measure information under the SNF Value-Based Purchasing (VBP) program, which offers incentive payments for facilities that reach certain readmission benchmarks — as well as penalties for those that fail. But it might not be possible to complete the […]
Summit Healthcare REIT, Inc. acquired an interest in 14 skilled nursing and assisted living facilities in Indiana for $125 million, with plans to lease them back to the seller on a triple-net basis. The acquisition, announced Wednesday, was made through a newly formed joint venture among a wholly-owned subsidiary of Summit, a real estate holding […]
Despite persistent industry headwinds, an investment firm with a strong skilled nursing footprint is expanding its reach in the space. White Oak Healthcare Finance on Tuesday announced the launch of a real estate investment trust (REIT) vehicle for investing up to $500 million in initial acquisitions in senior housing and skilled nursing properties, primarily focusing […]
The Illinois Department of Corrections is building a $150 million mental health and general medicine treatment center in Joliet, Ill., to provide care for incarcerated patients who have mental illnesses or require long-term skilled nursing care. WSPY FM 107.1 reported the news. The 200-bed facility will provide services to both male and female patients and […]
Genesis HealthCare (NYSE: GEN) struggled overall in 2018, but managed to cut its net loss in half from the year before — and executives described the previous 12 months as a “pivotal year” for the beleaguered skilled nursing provider. For the fourth quarter of 2018, Genesis reported a net loss of $68.95 million, or 67 […]
A new survey of older Baby Boomers goes against some of the common perceptions about what adults in the 60-to-72 age bracket want as they get older — and depending on their circumstances, that could include skilled nursing care. The survey was conducted by LeadingAge, a group which represents non-profit senior living providers, in conjunction […]
CNH Finance announced a $3.5 revolving line of credit to a skilled nursing and rehab provider, to be secured by accounts receivable. The line of credit will support working capital needs for a newly acquired skilled nursing facility. The operator manages and operates more than 80 SNFs in 13 states, and expects to continue to […]
The Washington, D.C.-based Love Funding secured a $10.5 million loan for the development of a new 41-bed transitional rehab facility in Yuma, Ariz. The planned 32,000-square-foot facility will include high-end amenities, with 41 private suites targeted exclusively at Medicare and managed care residents. Love Funding, a subsidiary of Midland States Bank, originated the loan through […]
Investment in skilled nursing facilities has remained steady despite industry pressures, and one leading operational and investment firm has begun to look abroad for cash as it looks to expand. Greystone & Co., Inc. is pitching potential investors in India on a 180-bed skilled nursing development in the Orlando area under the federal government’s EB-5 […]
New development in the skilled nursing world has increasingly taken the form of short-term rehabilitation centers, where providers see an opportunity to capture a higher share of the shrinking Medicare pool amid Medicaid and Medicare Advantage pressures. But in certain markets, that strategy may not be a recipe for success. In fact, in some states […]
The new, stricter skilled nursing staffing standards slated for implementation by the federal government next month weren’t entirely unexpected, but they raise questions about the broader problem of understaffed facilities — and hundreds of buildings could be in the crosshairs. The Centers for Medicare & Medicaid Services (CMS) announced March 5 that it would overhaul […]
After a high-profile bankruptcy in December of last year, Texas now has two bills that aim to provide some Medicaid reimbursement relief to skilled nursing providers in the state. The bills, Senate Bill 1050 and House Bill 3342, would establish a long-term care quality provider participation program (QPPP) in the state that provides additional compensation […]
North Shore Healthcare’s recent acquisition of a 72-bed skilled nursing facility in Ashland, Wis., presented an opportunity for the provider to expand its existing services in the town — and fit with the company’s ethos of growth. Specifically, the Glendale, Wis.-based operator isn’t looking to grow “for growth’s sake,” but it will look for opportunities […]
Senior Living Investment Brokerage facilitated the $12.1 million sale of two SNFs, one in Tennessee and one in Kentucky. The buyer was a real estate investment firm in the Northeast making its first long-term care facility acquisition; the seller was an independent owner-operator looking to exit the long-term care industry. The buyer also partnered with […]
Accountable care organizations (ACOs) have reaped savings by heavily managing post-acute care length of stays and being selective about the skilled nursing facilities they work with. But one Pennsylvania ACO dug into its own data and found that its preferred network of SNFs actually performed worse than other facilities on a series of key metrics, […]
Across the U.S., Medicaid rates tend to fall short of the cost of nursing home care for beneficiaries. In the state of Massachusetts, the financial pressures have rendered many skilled nursing facilities unstable — and forced many of them to close. The trend has also forced many of them to leave bills unpaid, which spreads […]
The Ensign Group (Nasdaq: ENSG) acquired the operations of the 99-bed Downey Care Center, a skilled nursing facility in Downey, Calif. The acquisition was effective March 1. “It’s been many years since we have found the right opportunity to grow in Southern California,” Ensign President and CEO Christopher Christensen said in a statement announcing the […]
Five Star Senior Living (Nasdaq: FVE) reported net losses for both the fourth quarter and fiscal 2018 amid uncertainty about its ability to continue as a going concern. The losses came even as Five Star reported a slight uptick in occupancy in its service lines. The Newton, Mass.-based company operated 284 senior living communities in […]
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