The 211-bed Avalon Southwest Health & Rehabilitation in Tuscon, Ariz., was recently sold for $15 million, or $71,000 per bed. The SNF was owned by a group of investors in San Francisco, who leased it to Avalon Health Care. These investors sold the facility to a Chicago-based owner-operator with roughly half a dozen facilities in Missouri […]
Over the last four years, nursing care had the weakest inventory growth out of several senior housing segments, according to a new data analysis from the National Investment Center for Seniors Housing and Care (NIC). The term “nursing care” can include units in facilities that don’t solely provide skilled nursing servicing, such as a continuing […]
The summer months have brought millions of dollars in skilled nursing refinancings and loans insured by the federal government. And though the overall activity level for loans from the Department of Housing and Urban Development (HUD) is roughly on par with the past few years, the ongoing regionalization in the space is a driver of much […]
SentosaCare Takes Over Virginia Nursing Home The former Avante Nursing Home in Waynesboro, Va., is now owned by Webster, N.Y.-based SentosaCare, as of June 1, The News Virginian reported on August 18. The change in ownership came as part of a 10-facility Avante sale announced earlier this year, John Harnack, vice president of human resources for The Avante […]
Palmer Township, Pa., Recommends Application for New Building The Palmer Township Planning Commission recommended a conditional use application that would allow the construction of a four-story nursing home planned by developer Abe Atiyeh, The Morning Call reported. Atiyeh’s Pennsylvania Venture Capital (PVC) wants to build a 102-bed skilled nursing facility; without the conditional use approval, […]
Use of after-hours telemedicine in one New York skilled nursing facility reduced avoidable hospitalizations significantly, according to a case study published in the American Journal of Managed Care (AJMC). The study was led by Dr. David Chess, the founder, president, and chief medical officer of Tapestry Telehealth, a company focused on SNFs in rural communities. […]
The Evangelical Lutheran Good Samaritan Society and Sanford Health cleared government reviews without objection, the companies announced on Friday, marking another step in the merger between the non-profit senior care and hospital heavyweights. The regulatory review included the North Dakota Attorney General’s Office, the South Dakota Attorney General’s office, and an anti-trust review under a Hart-Scott-Rodino […]
The new skilled nursing payment system set to take effect in October of next year includes a 25% cap on group and concurrent therapy services, a limit the Centers for Medicare & Medicaid Services (CMS) argued is needed to ensure patients receive the therapy best suited to their needs and goals. That limit, enshrined in […]
When the Centers for Medicare & Medicaid Services (CMS) began basing its rating of nursing home staffing levels on payroll records in April of this year, many skilled nursing facilities were found to be underreporting their nursing and caretaking personnel levels. Soon after the New York Times published an analysis of the records by Kaiser Health […]
By quickly finalizing the new payment system for skilled nursing facilities, the Centers for Medicare & Medicaid Services (CMS) sent a strong message that the model is final and that the industry will move forward with it. That’s according to a webinar from Minneapolis-based consulting firm Health Dimensions Group (HDG), which last week gave an […]
Staffing shortages in skilled nursing facilities made national headlines last month, but the dearth of workers and registered nurses have been a headache for nursing homes for years now. Some of the fixes can range from bonuses for hard-to-staff shifts to higher-level partnerships with local businesses and governments. But one thing is clear: The problem […]
Blueprint Announces SNF sales in Arkansas, Pennsylvania Blueprint Healthcare Real Estate Advisors announced two separate sales of skilled nursing facilities, one in Pennsylvania and the other in Arkansas. The sale of Fairview Care Center of Bethlehem Pike, a 176-bed SNF in Philadelphia, was related to a recent eight-property portfolio sale in the same area, with […]
Hospitalization rates play into the all-important five-star rating for nursing homes, but a new study finds that the two metrics aren’t necessarily correlated. Improvements in nursing home star ratings were not matched by improvements in potentially preventable hospitalizations, according to a study recently published in The Journal of Health Care Organization, Provision, and Financing. Researchers […]
Sabra Health Care REIT, Inc. (Nasdaq: SBRA) joined the chorus of voices praising the new skilled nursing payment model from the Centers for Medicare & Medicaid Services (CMS) on its second-quarter earnings conference call Thursday. “CMS issued their final rule affirming the Oct. 1 2.4% market basket increase and the implementation of PDPM in October of […]
GMF Capital Buys Former Sabra SNF for $6M GMF Capital purchased Woodland Hill Center, a 100-bed skilled nursing facility in Asheboro, N.C., for $5.95 million, the Triad Business Journal reported. The facility was bought from Sabra North Carolina LP of Irvine, Calif., a subsidiary of Sabra Health Care REIT (Nasdaq: SBRA). The sale was part of an overall […]
Genesis Healthcare (NYSE: GEN) recorded another net loss for 2018 in the second quarter, but CEO George Hager stressed that Q2 “was a significant and very positive quarter” for the troubled skilled nursing giant. Genesis reported a net loss of $39.61 million, or $0.39 per share, for the second quarter of 2018, compared with a net […]
A portfolio of nine skilled nursing facilities, scattered over eight states, sold for $82 million, according to Blueprint Healthcare Real Estate Advisors, an investment advisory firm that specializes in senior housing and health care real estate deals. The portfolio consists of 981 licensed beds, with assets in California, Colorado, Idaho, North Carolina, New Mexico, Rhode Island, […]
Registered nurses (RNs) in nursing homes saw higher hourly rates and lower turnover this year, bucking recent retention trends since 2015, according to a new report from the Oakland, N.J.-based Hospital & Healthcare Compensation Service (HCS). In 2018, RNs’ hourly rates rose 3.1%, while turnover fell from 35.69% in 2017 to 33.94% this year. Though an improvement year-over-year, turnover […]
For better or worse, social media has become an integral part of modern life. But the way users act on popular networking sites can lead to potential liability for skilled nursing facilities and other health care institutions. A lurid story about assisted living employees posting to Snapchat in the presence of a dying resident made […]
Hospitals that participated in Medicare’s bundled-payment initiatives were particularly focused on getting patients home first and foremost, rather than sending them to skilled nursing facilities, according to a new study published in Health Affairs. That came as a surprise to the researchers, Jane Zhu of the Perelman School of Medicine at the University of Pennsylvania […]
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