Skilled nursing occupancy troubles hit Five Star Senior Living (Nasdaq: FVE) in the fourth quarter, bruising the company’s earnings. The Newton, Mass.-based senior living operator saw a $2.7 million decrease in skilled nursing revenue, mostly from its leased standalone skilled nursing facilities. Occupancy at the leased SNFs dropped to 78%, down 220 basis points from the […]
As skilled nursing faculties grapple with low reimbursement rates and thin margins, a new scoring system for patients could help them allocate already scarce resources. It could be a useful tool as SNFs prepare for the SNF Value-Based Purchasing (VBP) program, under which the Centers for Medicare & Medicaid Services (CMS) will withhold 2% of […]
Kentucky took a tentative step toward tort reform by implementing a medical review panel law last year, but its most recent attempt faces a significant uphill battle in a state that has seen major skilled nursing operators blame lawsuits for struggles in recent months. The goal of Senate Bill 2, sponsored by a group of […]
A recent report puts some hard numbers to the pressures skilled nursing facilities face — and offered a prediction of its own about the much-anticipated “silver tsunami.” Though occupancy has been declining in skilled nursing facilities, falling from 87% in 2015 to 82% in 2016, the report from accounting and consulting firm Plante Moran projected […]
Unfunded pension obligations are behind a multi-million-dollar payout due to HCR ManorCare’s former president and CEO — even though the company has filed for Chapter 11 bankruptcy. Paul Ormond, who left ManorCare in September 2017, is owed $116.7 million under the prepackaged bankruptcy plan by which Quality Care Properties, Inc. (NYSE: QCP) will take over […]
Limiting out-of-pocket costs for skilled nursing services under Medicare Advantage plans doesn’t appear to affect the use of SNF services. Specifically, when a team of researchers compared MA plans with mandatory cost-sharing reductions and those without, they found little difference in the use of SNFs. The findings, published online on March 12 in the Journal […]
The most recent report from the Medicare Payment Advisory commission (MedPAC) claims that skilled nursing reimbursements are too high, but one leading trade group says MedPAC’s own numbers paint a much bleaker picture. Data in the report showed that the total margins for freestanding skilled nursing facilities were 0.7% in 2016, down from 1.6% in 2015. […]
Most nursing homes report registered nurse (RN) staffing levels at half an hour per resident day or less, highlighting the labor shortage that’s affecting most of the senior care industry. Seventy percent of nursing homes reported RN care at or below 30 minutes per day, while 82% of nursing homes reported total direct care staffing […]
Regional has increasingly become the name of the game in skilled nursing, but Genesis HealthCare (NYSE: GEN) expressed confidence in its scale during a presentation at the Barclays Global Healthcare Conference on Thursday. “There’s been a lot of discussion in the markets around the benefits of scale or the benefits of operating as a small local operator,” […]
The coming “silver tsunami” is a concept that continues to inspire optimism in the skilled nursing and senior care space, but the health needs of that population are still murky. Flexible design is a tool that can help skilled nursing providers and others be prepared for these unknowns, and one Virginia continuing care retirement community (CCRC) […]
The American Health Care Association (AHCA) on Tuesday rolled out new three-year goals for skilled nursing facilities, challenging operators to improve on a variety of metrics. The goals — announced at AHCA’s national Quality Summit in New Orleans — for skilled nursing are aligned with new value-based care models and the priorities of the Centers for Medicare & Medicaid Services […]
ESI Arranges $7.2M Sale of Pennsylvania SNF Evans Senior Investments (ESI), a real estate brokerage firm with locations in Chicago and Boulder, Colo., represented the sale of the 66-bed Bloomsburg Rehab & Wellness Center, a skilled nursing facility in Pennsylvania for $7.2 million, or $117,000 per bed. The buyer and the seller were publicly traded real estate investment […]
Amid a period of financial difficulty, a number of lawsuits forced Signature HealthCARE to give up management of a well-rated nursing home. The management of the facility, which was rated four out of five stars by the Centers for Medicare & Medicaid Services (CMS), was transferred to Englewood Cliffs, N.J.-based Accordius Health on Feb. 1, Louisville […]
Not allowing post-acute care (PAC) providers to take the lead in the Bundled Payments for Care Improvement Advanced (BPCI Advanced) program will hamstring the government’s ability to improve savings and care, several associations argued in a letter to the Center for Medicare and Medicaid Innovation (CMMI). LeadingAge and other prominent long-term care associations raised concerns about […]
Nightmarish stories about elder care in Minnesota have dominated the state’s news in recent months. The reports were especially striking given the state’s reputation as a haven for seniors: Minnesota has historically been named one of the best states for seniors, including by AARP’s 2017 state scorecard on long-term services and supports, where it ranked […]
The U.S. government declined to intervene in a False Claims Act (FCA) case brought against HCR ManorCare’s hospice division, though it asked to be kept updated on pleadings in the case. The decision to not intervene marks another victory in FCA cases for ManorCare; in November, a Medicare fraud case against the Toledo, Ohio-based skilled nursing […]
You can lead patients to a high-quality post-acute care (PAC) provider, but you can’t make them decide to go there. That was a primary takeaway in a wide-ranging discussion at the Medicare Payment Advisory Commission’s (MedPAC) March public meeting that focused on how to steer beneficiaries into higher-quality PAC facilities. “Medicare statute provides beneficiaries with […]
Skilled nursing occupancy took another hit in the fourth quarter of 2017, dropping 66 basis points from the third quarter to end at 81.9%. Not even a severe and early flu season could help boost it, according the fourth quarter Skilled Nursing Data Report from the National Investment Center for Seniors Housing & Care’s (NIC). “Historically, occupancy […]
After five consecutive years of record prices, the average price per bed for skilled nursing facilities fell to $81,350 in 2017, a drop of 18% from the year prior. It might have fallen even further if the average cap rate in 2017 had not remained at historical norms, according to a press release from Norwalk, […]
Real estate investment trust (REIT) Omega Healthcare Investors (NYSE: OHI) is working with struggling skilled nursing tenant Orianna Health Systems to execute a restructuring plan that involves Orianna entering Chapter 11 bankruptcy protection. Orianna and its affiliates operate 43 skilled nursing centers with approximately 4,500 beds in seven states. The plan involves transitioning some Orianna […]
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