Blueprint Announces Eight-Property SNF Portfolio Sale in Pennsylvania Blueprint Healthcare Real Estate Advisors announced the sale of an eight-property skilled nursing portfolio in southeast Pennsylvania with 1,050 beds; some of these facilities offered high-acuity, specialty care. The seller sought to divest non-core assets, which included a portion of high-barrier-to-entry locations in the Philadelphia area, according […]
Some skilled nursing providers have turned to in-house insurance plans to take more control of the care process, and the move could pay off if the government’s new proposed reimbursement model is finalized. The Patient Driven Payment Model (PDPM), which the Centers for Medicare & Medicaid Services (CMS) proposed in April, would overhaul skilled nursing reimbursements […]
Housing & Healthcare Finance Closes on HUD Loan for Tryko Facility in PA The Washington, D.C.-based Housing & Healthcare Finance closed on a 232/223(f) Department of Housing and Urban Development (HUD) loan for New Eastwood Healthcare & Rehabilitation Center. The 97-bed skilled nursing facility in eastern Pennsylvania is owned by Tryko Partners, which acquired it in […]
Illinois could be on the hook for approximately $300 million in nursing care expenses due to a backlog in determining residents’ Medicaid eligibility — all while the state’s providers have been footing the bill in the interim. The Office of Illinois Comptroller Susana Mendoza released a report Thursday that found a sizable logjam of pending Medicaid […]
Voluntary bundled payment programs might not be the best way of tackling spending on post-acute care (PAC), at least according to a research letter in the Journal of the American Medical Association. In fact, just 3.7% of PAC organizations took part in Model 3 of the Bundled Payments for Care Improvement (BPCI) initiative, which targets PAC […]
The Evangelical Lutheran Good Samaritan Society and Sanford Health took a key step forward in their plans to merge, signing an affiliation agreement Tuesday to combine the two Sioux Falls, S.D.-based non-profit organizations. Pending regulatory review, hospital chain Sanford and senior care heavyweight Good Samaritan expect to combine by Jan. 1, 2019. The result — if everything […]
A newly proposed payment system overhaul for the skilled nursing industry could create new challenges for the sector, according to public comments by trade groups and other stakeholders submitted on the Federal Register. Namely, the American Health Care Association (AHCA) believes the payment system, as proposed by the Centers for Medicare & Medicaid Services (CMS) in […]
The Evangelical Lutheran Good Samaritan Society, one of the largest non-profit senior care providers, on Tuesday announced a vote to approve a merger with Sanford Health, a not-for-profit health system. Good Samaritan has more than 200 locations across the U.S. with about 80 skilled nursing facilities, while Sanford has 44 hospitals. Both organizations are based in Sioux […]
Patients enrolled in Medicare Advantage (MA) plans had a shorter rehabilitation stay in a skilled nursing facility and were more likely to be successfully discharged to the community, compared with patients on fee-for-service (FFS) Medicare, according to a new study published in PLOS Medicine. MA patients were also less likely to experience a 30-day hospital […]
Between 2007 and 2017, payments to Medicare Advantage (MA) plans for services covered under Part A and Part B almost doubled, jumping from $78 billion to $210 billion, according to a new report from the Kaiser Family Foundation (KFF). Put another way, as a proportion of overall spending on Medicare, MA plans have grown from 18% […]
The state of Pennsylvania is set to pay Complete HealthCare Resources $475,000 after the company took over nine skilled nursing facilities operated by Skyline Healthcare, the Reading Eagle reported. The implosion of Wood Ridge, New Jersey-based Skyline in South Dakota, Kansas and Nebraska has also hit Pennsylvania, where the Department of Health (DOH) had to appoint temporary […]
As skilled nursing facilities face pressures to improve care in an increasingly value-focused world, one provider has been able to lower its rehospitalization rate into the single digits by adding in-house emergency care. Call9, which is based in Brooklyn, N.Y., and embeds paramedics on-site at skilled nursing facilities, partnered with the Archdiocese of New York’s long-term care […]
SNF for Parolees Proposed in Fulton, Missouri The Georgia-based company CorrectLife, which provides assisted living to parolees or people eligible for parole with no alternate living arrangements, visited Fulton, Mo., to explore the potential construction of 150-bed skilled nursing facility, the Fulton Sun reported on Thursday. Carlo Musso, who founded CorrectLife, is interested in opening […]
Sabra Health Care REIT (Nasdaq: SBRA) has made some major skilled nursing waves over the past year, with its acquisition of Care Capital Properties and ongoing attempts to shed assets operated by troubled provider Genesis Healthcare (NYSE: GEN). Rick Matros, the Irvine, Calif.-based real estate investment trust’s (REIT) CEO, has been outspoken about the changes […]
$20M Sub-Acute SNF Comes to El Paso, Texas Center at Zaragoza, LLC, based in Colorado Springs, Colo., plans to build a $20 million sub-acute nursing facility in El Paso County in Texas, El Paso Inc. reported on June 15. County commissioners approved a tax incentive agreement totaling $416,965. The three-story facility will be the first sub-acute nursing […]
Smaller, non-profit nursing homes and some of the shorter-term skilled nursing facilities tended to do well in a satisfaction survey of thousands of nursing home and assisted living residents in Ohio. But residents still called out dining and activities as areas for improvement in the long-term care (LTC) field in the Buckeye State. The Ohio […]
Even as operators and investors sort out the implications of the new proposed skilled nursing payment model, one reviewer has given it a firm thumbs up so far: the stock market. Publicly traded companies with interests in skilled nursing facilities got a shot in the arm from the new Patient-Driven Payment Model when it was […]
Carnegie Capital Secures $24M Bridge Loan for Long Island Facility Carnegie Capital, based in Austin, Texas, sourced and structured a $24 million bridge loan to refinance the existing note on a skilled nursing and assisted living facility on Long Island, N.Y. The deal helped restructure the facility’s operating debt and rehabilitate the upper level. The […]
A federal judge dismissed a possible class action lawsuit against Skyline Highland Holdings, an entity linked to the manager of the collapsing Skyline Healthcare chain, which has seen multiple skilled nursing facilities enter forced receivership in recent months. The case was filed by plaintiffs James Green, Mercedes Anderson, and Brenda Woodard back in August 2017. […]
Developer Hits Milestone on $60M SNF in White Plains, N.Y. The Congress Companies, based in Massachusetts, is building a $60 million, 160-bed skilled nursing facility in White Plains, N.Y., and celebrated a topping-off ceremony on June 12, the Westchester County Business Journal reported. The construction of the White Plains Institute for Healthcare & Rehabilitation is being led […]
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