Minnesota SNF Closes Doors; Nursing Home Developer Eyes Former Retail Site

Walker Rehab Healthcare Center in Minnesota to Close The board of directors of the Walker Rehabilitation and Healthcare Center in Walker, Minn., will close the skilled nursing facility, The Pilot-Independent reported. The SNF used to be known as Woodrest-Golden Living. The average daily occupancy of the care center has declined in recent years, leading to the […]

Washington Post Blames Private Equity for ManorCare Woes

Skilled nursing chain HCR ManorCare’s struggles were the direct result of its former private equity ownership, a Sunday report in The Washington Post alleged. The paper analyzed inspection records as part of the wide-ranging story, finding that the number of health code violations found at ManorCare rose from 1,584 in 2013 to nearly 2,000 in 2017 […]

Dycora CEO: Define Your SNF’s Role in the Market Before Others Can

Forging partnerships isn’t just about trying to crack into preferred referral networks, according to one CEO. It’s about getting ahead of government changes and other market factors, and defining your company’s role in a specific region — instead of allowing regulators and partners to do it for you. Most SNFs know they need to keep track […]

Lawsuit Accuses Molina of Failing to Provide Required Skilled Nursing Care

The insurer Molina Healthcare was accused of neglecting to provide a mandatory skilled nursing program in violation of its managed Medicaid contracts with the state of Illinois in a recently unsealed lawsuit. The case, first reported by FierceHealthcare, alleges that the Long Beach, Calif.-based insurer failed to operate a so-called “SNFist” program, in which licensed clinicians […]

Preferred Care Asks for Fourth Extension on Bankruptcy Restructuring Plan

Preferred Care, a nursing home operator that filed for Chapter 11 bankruptcy protection last year, is seeking another extension for the exclusive period in which it can file and confirm a plan of reorganization. The motion, filed Monday, is the fourth such request entered this year, and would extend the exclusivity period by 91 days if […]

Nursing Home Thrives By Targeting Residents Others Won’t Take

One of the top nursing homes in the state of Connecticut secured its accolades by specifically taking in patients that other skilled nursing facilities shy away from serving. The 60 West facility, located in Rocky Hill, Conn., was named to U.S. News & World Report’s list of best nursing homes and was one of the […]

Green House Model Goes to Vegas; ESI Brokers $7.3M Ohio Sale

Green House-Model SNF Comes to Las Vegas The Villas at Centennial Hills, a Green House project, will be built in Las Vegas, with a groundbreaking scheduled for December 4. The facility will include six villas with private bedrooms and bathrooms and a co-living kitchen, dining room, living room, and outdoor spaces. It will be the […]

Report: Troubled Former Golden Living Facilities Highlight Oversight Issues

Nursing facilities formerly operated by Golden Living in Pennsylvania are still plagued with problems — even as Golden Living continues to own the real estate. That’s according to an in-depth investigation published last week by PennLive, which explored the issues of nursing facilities that the Plano, Texas-based Golden Living used to operate in the state. […]

$7.6M Bridge Loan for 3-SNF Portfolio; Nursing Homes in PA, NY Change Hands

Lancaster Pollard Facilitates $7.6M Bridge Loan for 3 SNFs Lancaster Pollard arranged a $7.6 million bridge loan financing for three skilled nursing facilities in Kansas and Missouri owned by Medicalodges, Inc. Medicalodges owns and operates 25 SNFs, eight assisted living facilities, four home health care offices, and two locations serving people with intellectual and developmentally disabilities. […]

Receiver of 19 Skyline SNFs Proposes Closing Two Facilities

Black Hills Receiver LLC, the court-appointed receiver for 19 skilled nursing facilities in South Dakota that were operated by Skyline Healthcare and its affiliates, on Wednesday proposed a plan to close two of the facilities due to lack of funds. The earliest date the facilities — the Madison Care and Rehabilitation Center in Madison, S.D., and […]

Aegis CEO: Therapy Can Still Drive Skilled Nursing Revenue Under PDPM

The new Medicare payment model for skilled nursing facilities upends the old system of rehabilitation minutes driving reimbursement. With the Patient-Driven Payment Model (PDPM) scheduled for implementation on Oct. 1, 2019 by the Centers for Medicare & Medicaid Services (CMS), SNFs and therapy providers alike are scrambling to catch up and prepare. In this changing landscape, […]

White Oak Lands $190M Financing for 17 Former Kindred SNFs

White Oak Healthcare Finance helped arrange a $190 million senior credit facility for 17 skilled nursing facilities owned by the joint venture BM Eagle Holdings, led by affiliates of BlueMountain Capital Management. White Oak acted as administrative agent and lead lender on the funding of the credit facility, which will be used for facilities in […]

RiverSpring CEO Talks Skilled Nursing as ‘Dinosaur’ and New York’s First CCRC

RiverSpring Health is working on New York City’s first continuing care retirement community (CCRC) as it expands beyond its Hebrew Home at Riverdale nursing facility. And CEO Daniel Reingold is optimistic about it — particularly as the skilled nursing industry convulses in a series of transformations. “It’s a dinosaur,” he told Skilled Nursing News of […]

Nursing Providers Could See 30% Higher Insurance Costs Amid Volatile Market

The marketplace for long-term care liability insurance is increasingly volatile, with greater underwriting pressures and a much more intense focus on profitability, according to a new report on the liability market from the advisory firm Willis Towers Watson. Liability insurance rates for senior living and long-term care (LTC) providers are expected to go up anywhere […]

MedEquities To Re-Tenant 10 Texas SNFs

MedEquities Realty Trust, Inc. (NYSE: MRT) has signed an agreement to re-tenant 10 Texas skilled nursing facilities currently leased to affiliates of OnPointe. The Nashville, Tenn.-based real estate investment trust (REIT) owns 34 acute and post-acute facilities in seven states; it has about 20 SNFs in its portfolio, according to its website. The new 15-year triple […]

As Consumer Clout Grows, Providers Need to Bust Long-Term Care ‘Myths’

In a world where ratings and reviews help shape consumer choice, long-term care has a major perception problem. “When we go out and just talk to consumers, perception-wise, about long-term care, only about 24% trust or have confidence in long-term care or nursing homes,” Ryan Donohue, strategic adviser at the the research firm NRC Health […]

KeyBank Provides $127.7M For Two Skilled Nursing Portfolios

Two skilled nursing portfolios in Texas and Nevada secured financing from KeyBank Real Estate Capital totaling $127.7 million. The loans serve as a bridge to Department of Housing and Urban Development (HUD) financing for the portfolios. The SNF portfolios are joint ventures led by Capital Senior Ventures and BlueMountain Capital Management. For the 16-property Texas portfolio, […]

Breaking Down Silos, New SNF Targets Substance Misuse Disorders

A new skilled nursing unit in McKeesport, Pa., is targeting the needs of patients with a primary medical condition and co-occurring substance misuse disorders,  in collaboration with an integrated delivery and financing network, a local county government and a managed care network. “It’s designed for patients who have a primary medical diagnosis as well as […]

Genesis Sees SNF Upside Ahead, Despite Q3 Losses

Improving skilled nursing and occupancy trends, as well as a healthy dose of cost control, made the third quarter a strong one for Genesis Healthcare (NYSE: GEN) in spite of a net loss, executives said on the company’s third-quarter earnings call. “I think you can tell there’s a lot more optimism in our voices,” Genesis CEO George […]

Colony Capital Names Thomas Barrack CEO, Reports Q3 Net Loss of $70M

Colony Capital, Inc. (NYSE: CLNY) shook up its leadership amid a net loss of $70 million for the third quarter, naming executive chairman Thomas Barrack as CEO. Barrack replaces Richard Saltzman, who served as CEO for four years since the company went public. Saltzman is expected to remain with the company in a non-executive capacity […]