The Ensign Group (Nasdaq: ENSG) acquired the operations of four skilled nursing facilities in Dallas, effective December 1, in addition to picking up the real estate and operations of another SNF in Mesa, Ariz. The four Dallas properties include the Crestwood Health and Rehabilitation Center, which has 112 skilled nursing beds and 72 assisted living […]
Category: Featured
Robert Specht had spent years at the financial helm of companies in a variety of spaces, but he was a post-acute and long-term care newcomer when he accepted a crash course in the business: a consulting position for a 33-building senior housing and care chain in receivership. Working with Health Dimensions Group, the provider and […]
PruittHealth spent 2019 celebrating its 50th anniversary in the post-acute and long-term care space, but second-generation CEO Neil Pruitt, Jr. says his company — along with the rest of the industry — must focus on novel and creative strategies for surviving into the future. Pruitt sees potential in a variety of forward-thinking initiatives, from the […]
An operator with several skilled nursing facilities in the states of Washington, Oregon, and Idaho has filed for Chapter 11 bankruptcy protection, citing issues with its secured debt and — in chorus with other bankrupt operators across the country — problems with its leases. Cornerstone Healthcare Services operates 14 SNFs in the states of Washington, […]
Dialysis services have recently been highlighted as a major growth area under the new Patient Driven Payment Model (PDPM) — both financially and clinically — especially as reimbursements are recalibrated for higher acuity patients. In July, the Centers for Medicare & Medicaid Services (CMS) rolled out the End-Stage Renal Disease (ESRD) Treatment Choices (ETC) model, […]
Earlier this fall, a decades-old annual survey of nursing home finances revealed that for the first time, the median operating margin for the nation’s skilled nursing facilities fell below zero. While the statistics from consulting firm CLA weren’t necessarily surprising, given the micro- and macro-level challenges facing nursing home operators over the last decade, that […]
With intense attention on therapy cuts and reimbursement changes during the transition to the Patient Driven Payment Model (PDPM) on October 1, operators and lead clinicians have focused on continuing education and training to remain financially sustainable amid this historic shift. SNN spoke to four therapy companies to see how operators and clinicians are faring […]
Early PDPM Claims Data Reveals Far More Winners Than Losers, ‘Impossible Combinations’ of Conditions
The first round of claims data under the new Medicare payment model for nursing homes shows that the majority of operators are seeing reimbursement boosts — while some are also making key billing mistakes that could result in missed payments for certain services. The average skilled nursing facility saw Medicare reimbursements of $614.96 per patient […]
The structure and finances of private equity investors in the skilled nursing space have come under the federal microscope, with two U.S. senators and a U.S. representative demanding answers from four major firms about their investment in nursing homes. Presidential hopeful Sen. Elizabeth Warren, along with Sen. Sherrod Brown and Rep. Mark Pocan, sent strongly-worded […]
The skilled nursing world has become increasingly focused on gaining control of the premium dollar as a way to navigate a tangled thicket of payers. And while most attention has been on the Medicare Advantage model, one major operator sees opportunity in an arrangement that many SNFs dread: the accountable care organization (ACO). In its […]
There’s been significant attention focused on the potential for therapy reductions and reimbursement shifts amid the transition to the Patient Driven Payment Model (PDPM) on October 1, but concerns may soon be shifting to another looming therapy change — this time under Medicare Part B. The Centers for Medicare and Medicaid Services (CMS) has proposed […]
Staffing struggles are nothing new for skilled nursing operators, but one provider in Ohio specifically credits investments in staffing and culture for its recent growth. Foundations Health Solutions, a skilled nursing and physical therapy company that operates 57 properties across Ohio, has boosted margins and expanded its footprint by streamlining the relationships between corporate, clinical, […]
Some of the private insurance companies that process Medicare claims on behalf of the federal government are holding up claims for skilled nursing facilities after the implementation of the Patient-Driven Payment Model (PDPM) in October. But it’s not clear how widespread that is, BKD director John Harned and senior managing consultant Sherri Robbins said on […]
Nursing home providers in multiple states have won key funding increases through the use of novel Medicaid supplement programs — but the federal government now wants to keep a tighter leash on the models in order to curb overall Medicaid spending. The Centers for Medicare & Medicaid Services (CMS) on Tuesday proposed a rule that […]
Despite a general lack of new construction in the skilled nursing space, one owner/operator stands out for building three brand-new skilled nursing facilities in the Chicagoland area. And when many companies are paring down staff and consolidating, Brad Haber, principal owner and operator at Innovative Health, LLC, is midway through spearheading three SNF construction projects […]
Stabilizing and turning around a single skilled nursing facility can take up considerable time and resources for any one provider. Turning around an operating company with more than 200 buildings and a multitude of internal systems takes even longer. Consulate Health Care needed multiple years. Chris Bryson who joined the Maitland, Fla.-based operator in September […]
The first round of earnings calls these past two weeks revealed few firm outcomes related to the new Medicare payment model for nursing homes, but one provider was identified as potentially ahead of the curve: Signature HealthCARE. Omega Healthcare Investors (NYSE: OHI) chief investment officer Robert Stephenson on Wednesday praised Signature, one of its tenants, […]
Despite showing long-term optimism about Daybreak Venture, executives at Omega Healthcare Investors (NYSE: OHI) on Wednesday revealed an ongoing plan to replace the struggling skilled nursing operator at many of its facilities in Texas. The two parties have mutually agreed to work toward a deal that would “selectively downsize” Daybreak’s footprint across the Lone Star […]
Special Medicare Advantage plans for long-term nursing home residents have emerged as a significant growth opportunity for operators in the space, but state governments around the country may not necessarily be on board. In fact, states may see Institutional Special Needs Plans (I-SNPs) as directly in opposition to their goal of shifting residents away from […]
Formed only last year, a small skilled nursing operator with a presence in the South recently made a significant push into Wisconsin, taking over seven properties out of receivership. When Bedrock Healthcare LLC, founded in part by former nursing home administrator Kenny Nichols, assumed operations of the facilities early last month, the move substantially expanded […]
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