CareTrust REIT (Nasdaq: CTRE) acquired the Buena Vista Care Center, a 150-bed skilled nursing facility in Santa Barbara, Calif., for about $15.9 million, including transaction costs, the real estate investment trust announced March 9. The facility will continue to be operated by Covenant Care under a long-term lease assumed by the San Clemente, Calif.-based CareTrust […]
PruittHealth last week announced that all 91 of its skilled nursing facilities in the Southeast region will be required to undergo Joint Commission Nursing Care Center Accreditation, with the facilities in Georgia slated to go first. The SNFs will be required to undergo accreditation to achieve the Gold Seal of Approval; accreditation from the Joint […]
The U.S. Senate on Thursday confirmed California attorney general Xavier Becerra as secretary of the Department of Health and Human Services (HHS) by a 50-49 margin, almost entirely along party lines. Sen. Susan Collins of Maine was the only Republican who voted to confirm Becerra. Becerra was nominated by President Joe Biden in early December […]
The Department of Health and Human Services (HHS) this week announced that it would invest more than $12 billion in expanding testing for COVID-19, with a $255 million contract for the production and delivery of 50 million rapid point-of-care antigen tests to long-term care facilities. The contract covers 50 million Abbott BinaxNOW tests “to support […]
The Senate Finance Committee on Wednesday held a hearing on the impact of COVID-19 on nursing homes, and witnesses from the frontlines to the academic sphere testified to the fact that the pandemic exacerbated problems that long predated the novel coronavirus. And while the hearing contained its share of partisan talking points — ranging from […]
The Ensign Group (Nasdaq: ENSG) is seeing admission volumes start to recover in the wake of vaccination clinics at its long-term care facilities, but the time it will take for occupancy to return to pre-COVID-19 levels is still an open question, the operator’s executives indicated during a virtual presentation at the brokerage and investment bank […]
The two largest trade groups for nursing homes proposed a policy agenda to address the systemic issues in the sector illuminated by COVID-19, with reforms centered on improving nursing hours, staff retention and infection control — in addition to increasing reimbursement from Medicaid, the largest payer for nursing home care, to cover the costs. The […]
COVID-19 cases in nursing homes have plummeted since the vaccination effort shifted into gear at the end of December, dropping by as much as much as 82% by the start of March. With the immediate crisis starting to abate, SNF operators are now faced with a daunting task: determining what comes next, and what the […]
Invesque Inc. (TSE: IVQ.U) on Thursday indicated that talks to finalize the details of a transaction to cut its exposure to Symphony Care Network, its largest skilled nursing operator tenant, continue — while recognizing no revenue from Bridgemoor Transitional Care. In the third quarter of 2020, Invesque reported that it was taking steps to reduce […]
Fortress Investment Group LLC is in talks to acquire some of the non-core assets of the real estate investment trust (REIT) Colony Capital (NYSE: CLNY), including its skilled nursing portfolio, Bloomberg reported on March 8. Fortress, which is based in New York and is owned by SoftBank Group, has about $50 billion of assets under […]
One of the scarcest resources in any workplace setting is time, and for nursing homes, one of the casualties of this scarce resource tends to be the position of infection preventionist. This usually takes the form of adding the duties of an IP to an already existing role in the nursing home workplace, and in […]
The clinical effects of COVID-19 on the skilled nursing world have been apparent since the start of pandemic, and roughly a year into the public health emergency in the U.S., firm data about the financial health of the space is emerging — particularly as stimulus funding for providers remains uncertain. For the Georgia-based operator PruittHealth, […]
When emergency use authorizations (EUA) were granted to two COVID-19 vaccines in December 2020, health care workers and residents in long-term care facilities were granted first priority for the shots — and a federal partnership to vaccinate nursing homes kicked into gear. By January 25, most nursing homes participating in the Pharmacy Partnership for Long-Term […]
Officials in New York last November began working to launch a handful of nursing homes designated for COVID-19 patients only — after a firestorm of criticism for a directive in the spring of 2020 that sent COVID-19 patients to any nursing home at all. The Manhattan campus of the New Jewish Home in became one […]
Six skilled nursing entities — spanning operations, management, and rehabilitation — this week filed for Chapter 11 bankruptcy after the reinstatement of a multimillion False Claims Act (FCA) judgement against them last year. The entities themselves are part of a group of corporate affiliates of major nursing home operator Consulate Health Care, but the bankruptcy […]
The vaccination efforts against COVID-19 that began in late December have begun to bear fruit in the form of steep declines of new COVID-19 cases and deaths among nursing home residents, one of the largest nursing home trade groups reported Tuesday. And with new cases dropping by 82% among nursing home residents — who have […]
The day-to-day operations of running a skilled nursing facility, were upended by the COVID-19 pandemic — along with the core business model of post-acute and long-term care in America. For many operators, the pandemic has exposed the flaws and systemic challenges of the space, both on the regulatory and operating sides. And as cases continue […]
A federal grand jury in Pittsburgh indicted the former administrator of a skilled nursing facility in the region on charges of conspiracy to defraud the U.S., health care fraud, and the obstruction of a federal audit, U.S. attorney Scott W. Brady and Pennsylvania Attorney General Josh Shapiro announced Thursday. The three-count indictment names Susan Gilbert, […]
Two of the largest trade associations for nursing homes announced a goal of vaccinating approximately 75% of the roughly 1.5 million nursing home workers across the U.S. by the end of June. The American Health Care Association (AHCA), which represents more than 14,000 primarily for-profit nursing homes and long-term care facilities, and LeadingAge, which represents […]
When the overhaul of Medicare Part A reimbursement for nursing homes took effect in October 2019, predictions of audits and the potential for drastic changes came close on its heels. After all, the Patient-Driven Payment Model (PDPM) was meant to be revenue-neutral, meaning that the Centers for Medicare & Medicaid Services (CMS) would not spend […]
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