The cost of nursing facility care is out of reach for many middle-income families, which can lead to dependence on Medicaid for long-term care, according to the AARP’s Across the States 2018 report. The report offers a profile of long-term services and supports (LTSS) in the U.S., using a range of data sources. For the […]
Value-based arrangements generate much of their savings by shifting spending away from the post-acute setting, according to recent government announcements. That ups the already-high pressure on skilled nursing facilities to lower patient length of stay while maintaining quality of care. To cope, they’ll have to make themselves invaluable to both referral sources and payers who […]
Strawberry Fields REIT LLC acquired nine skilled nursing facilities in Arkansas from the Skyline Group and, in a separate deal, one facility in Kentucky — for a combined purchase price of $42.4 million for the 10 facilities. The South Bend-based Strawberry Fields, a real estate investment trust (REIT) that specializing in nursing homes and other […]
Preliminary results from the bundled payment initiative focused on joint replacements suggest that savings under the program has come largely from cutting skilled nursing and other long-term care services. The results from the early stages of the Comprehensive Care for Joint Replacement (CJR) bundled payment model came shortly after an announcement from the Centers for Medicare & […]
Virginia SNF Gets Second Life as Assisted Living Facility The Lovingston Health and Rehabilitation Center in Lovingston, Va., was converted into an assisted living center — The Town Creek Assisted Living Center — according to The Daily Progress. The conversion was made by the Region Ten Community Services Board, which provides behavioral health and developmental services throughout central […]
Major skilled nursing provider Signature HealthCARE almost failed because of medical malpractice laws in the state of Kentucky, among several other financial issues, CEO Joseph Steier told Louisville Business First on Tuesday. “There were times in the last year and a half that I didn’t know what the outcome of Signature was,” Steier said in […]
Dialyze Direct, LLC, acquired Affiliated Dialysis Centers in a deal expected to close by December 31, subject to customary closing conditions. The acquisition would make Dialyze Direct the largest home hemodialysis provider for skilled nursing facilities in the U.S., according to the company. The terms of the deal were not disclosed. Medicare reimburses for dialysis […]
Genesis Opens Short-Term Rehab Center in Exton, Pennsylvania Genesis Healthcare (NYSE: GEN) opened its 12th PowerBack Rehabilitation location in Exton, Penn., The Daily Local News reported. The 85,000 square-foot Exton center includes a rehabilitation gym and 120 private suites. It is expected to employ approximately 300 people, according to the publication. The PowerBack Rehabilitation service […]
For better or for worse, the federal government’s star-rating system for ranking skilled nursing facilities has taken on outsized importance as preferred provider networks narrow and Medicare Advantage plans demand better and better quality. The ratings from the Centers for Medicare & Medicaid Services, therefore, have become a quick and seemingly formal way to separate […]
BMO Harris Bank’s Real Estate Finance Group announced that it closed on a $51 million facility for Arcapita, Senior Care Development, and LCS to finance the recapitalization of Sedgebrook, a continuing care retirement community in Lincolnshire, Ill. LCS is the parent company of Life Care Services, and has managed the property through that affiliate since […]
Whittier Health Network Completes 123-Bed SNF in Massachusetts Nauset Construction announced the completion of the 123-bed Port Healthcare Center, a skilled nursing facility owned and operated by Whittier Health Network in Newburyport, Mass. The project’s completion was first reported by Boston Real Estate Times. The 62,000 square-foot replacement facility was completed in fall of 2017, with site […]
The skilled nursing sector saw yet another downward trend in the second quarter, this time in the price-per-bed metric as measured by data from the National Investment Center for Seniors Housing & Care (NIC). For the second quarter of this year, the price per bed for skilled nursing facilities sat at $84,200. Though the price […]
The shifting tectonic plates in the skilled nursing landscape include a focus on value and a new payment system that puts the focus on medically complex patients and specialties. As providers try to adapt, some have chosen to go all in on a model of care that targets short-stay patients, flying in the face of […]
As the nursing home industry roils with changes ranging from the demographic to the governmental, one Illinois skilled nursing facility has put its focus on short-term rehab and transitional care patients. As a result, it depends more heavily on patient volume than most SNFs, necessitating as many referral sources as possible. And as management pursues […]
The new skilled nursing payment model has received mostly praise from the industry since its finalization in late July, but it could have the side effect of leading more mom-and-pop SNFs to exit the space altogether. It’s important to note, however, that it’s not the only reason they’re leaving. “While PDPM is a big factor […]
The Next Generation Accountable Care Organization (ACO) Model netted Medicare about $62 million in net savings in its first year of operations — and cutting spending in skilled nursing facilities was a key driver for the decrease. Centers for Medicare & Medicaid Services (CMS) Administrator Seema Verma first announced the news in a webinar hosted […]
Danny Prosky, one of the co-founders of American Healthcare Investors, Inc., has spent more than 20 years in the field of health care real estate investment — and he remains upbeat about the future of skilled nursing. Skilled Nursing News spoke to Prosky about the state of skilled nursing industry in his capacity as managing […]
Reliant Rehabilitation Holdings Inc. agreed to pay the U.S. $6.1 million to resolve claims that it paid kickbacks to doctors and skilled nursing facilities to promote its rehabilitation therapy business, the Department of Justice announced Thursday. Between April 1, 2013 and May 1, 2017, the Plano, Texas-based rehabilitation therapy provider allegedly employed nurse practitioners at […]
In a skilled nursing landscape dominated by a shortage of workers on every level, a Newton, Mass.-based staffing company is trying to make adding temporary workers as easy as ride-hailing. ConnectRN was founded in 2014 by current CEO Michael Wood, Idriz Limaj, and Agron Ademi. The company uses mobile software to allow registered nurses (RNs), licensed […]
The thorny relationship among the skilled nursing industry, consumer advocates, and regulators could be actively thwarting efforts at improving nursing home quality, one expert argued. “In making their respective cases, stakeholders have expressed divergent views about the current state of nursing home quality and, more specifically, the effectiveness of regulatory oversight efforts,” David Stevenson, an associate professor […]
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