Ensign Group (NASDAQ: ENSG) announced Monday its acquisition of three skilled nursing facilities spanning Kansas and Colorado. The transactions, including both real estate and operations, were finalized on March 1, 2024. Ensign affiliates acquired Park Post Acute in Parker, Colorado, which has 135 beds, and Oakwood Care and Rehabilitation in Lakewood, Colorado, with 170 beds. […]
As nursing homes and hospitals confront lingering concerns with inpatient backlogs, lengths of hospital stay, and tighter operating margins, the growth of Medicare Advantage plans – and now greater scrutiny over their prior authorization protocols by the federal government – will only serve to squeeze profits margins. “So those are additional headwinds that will benefit […]
Northwind Group, a real estate private equity firm and debt fund manager, announced multiple significant investments in the skilled nursing sector earlier this month in a move that underlines a favorable environment for deal making for large players. A portfolio of nursing homes owned by The Portopiccolo Group benefited from the provision of credit facilities […]
Following significant leadership changes recently at PACS Group, new initiatives are afoot at the nursing home giant as it continues to expand its footprint. To discuss these endeavors, Skilled Nursing News sat down with the new leadership at PACS, whose affiliates operate more than 200 facilities in nine states – 58 of these acquired in […]
The nursing home sector’s minimal participation in Accountable Care Organizations (ACOs) – largely because they have not found it lucrative to be in ACOs or have been sidelined within ACOs by other provider types – has resulted in a push for change. In a joint effort aimed at enhancing the integration of long-term and post-acute […]
Market conditions are currently favoring REITs – and leaders with LTC Properties (NYSE: LTC) are feeling “very bullish” on their investment outlook for the year. LTC executives expressed optimism about the sector’s growth prospects, citing strong market fundamentals and increasing demand for senior housing. Specifically, they see a looming wall of debt maturities coming in […]
In recent months, the nursing home sector has witnessed a concerning uptick in the abrupt closure of nursing homes across the United States, with closures in New Jersey, Missouri, California and Vermont, displacing residents. Many factors are at play in the abrupt shuttering of these nursing homes. A tough economic environment, stubborn staffing problems, a […]
In a move to enhance the quality of care in Iowa’s nursing homes, Iowa lawmakers advanced a new bill that proposes joint training for nursing home staff and inspectors in order to better address complaints. Recent data shows complaints and citations have drastically increased over the last year. The Department of Inspections, Appeals and Licensing […]
Over one-third of healthcare workers, including nursing home workers, have needed to take a break at some point. These pauses, often driven by burnout and overscheduling, exacerbate the already significant workforce shortages plaguing the industry because many workers leave the workforce permanently. According to a new report from ShiftKey released Tuesday, of particular concern is […]
Executives at CareTrust REIT (Nasdaq: CTRE) believe that the acquisition market for skilled nursing assets should heat up in 2024. And they highlighted the company’s robust financial position to be able to make investments, with $600 million available on their line of credit and nearly $300 million in cash. “We expect 2024 to be a […]
In Center Point and Jonesville, Louisiana, two properties comprising 244 licensed skilled nursing beds, operated by CommCare, have been successfully sold to Omega Healthcare REIT and their operator, Venza Care. According to Blueprint, who facilitated the sales, the facilities have stable performance levels, and experienced a significant financial boost following Louisiana’s Medicaid rate adjustment effective […]
The year 2024 will pose a challenging landscape for skilled nursing professionals, with staffing problems still creating headaches. And yet, optimism is increasing and providers seem eager to drive expansion amid overall positive expectations for occupancy growth. The Skilled Nursing Outlook 2024 survey, which SNN conducted in partnership with Net Health, points to leaders perceiving […]
Generative AI may become a more prominent part of caregiving for skilled nursing operators who need to save time due to staffing shortages. WellSky, a software analytics company that services healthcare providers, unveiled a collaboration with Google Cloud late last week to develop advanced data analytics tools, machine learning capabilities, and artificial intelligence in healthcare […]
In a major development for the nursing home industry, a plea agreement has been reached in the ongoing legal saga involving South Florida healthcare mogul Philip Esformes. Esformes, previously convicted in 2019 for his involvement in a billion-dollar Medicare fraud scheme, had his 20-year prison sentence commuted by former President Donald Trump in 2020, but […]
The Forest at Duke (TFAD), recently introduced a new building at the heart of its campus in Durham, North Carolina. The five-story building embraced the small-house model, with 10-bed households forming neighborhoods, each with a unique personality. The staff and caregivers were integrated into this model, fostering a sense of community. Family-style meals became a […]
The landscape of healthcare financing, especially for skilled nursing facilities, has been undergoing significant shifts in recent times, but the growth outlook has improved and approval of government-backed loans is expected to rise in the coming months. The Department of Housing and Urban Development’s (HUD) lending in the skilled nursing space for less risky loans […]
The recent closure of a California facility is bringing even more attention to the broader issue of bed shortages and “transfer trauma” at nursing homes across the U.S., given that shutdowns of facilities have continued to mount in recent weeks. Efforts are being made to prevent “transfer trauma” among the older residents at skilled facilities, […]
The Geriatric Workforce Enhancement Program (GWEP) is undergoing changes that could help operators bolster their workforces with better trained direct care workers and improve the career ladder for certified nurse aides (CNAs). The Moving Forward Coalition, an organization engaged in enhancing the quality of care at nursing homes, held a presentation on the latest updates […]
As wildfires continue to plague the western U.S. and Canada, the repercussions of the resulting smoke infiltrating long-term care facilities have become a significant concern for nursing home residents across many parts of the country. Luke Montrose, an environmental toxicologist at Colorado State University, conducted a study in 2020, which found that one facility allowed […]
American Healthcare REIT is gearing up for a significant move in the financial landscape as it eyes a $700 million initial public offering (IPO), Bloomberg reported on Tuesday. The REIT’s primary operating partner is Louisville, Kentucky-based Trilogy Health Services, which is one of the nation’s largest skilled nursing and senior living providers. “Trilogy constitutes more […]
Subscribe
Receive industry updates and breaking news from SNN.