After scoring significant successes in reducing hospital readmissions among its own nursing homes with telehealth, a major hospital network is looking to market its virtual interventions to a wider swath of post-acute and long-term care facilities. Northwell Health, the largest health care provider in New York State, saw rehospitalizations decline by up to half at […]
Omega Healthcare Investors (NYSE: OHI) on Thursday announced that it will begin recording revenues associated with tenants Genesis HealthCare (NYSE: GEN) and Agemo Holdings LLC — the legal name for its portfolio of buildings operated by Signature HealthCARE — on a cash basis, citing concerns about the nursing home operators’ future. As a result, the […]
The hopes of pretty much everyone in the country now rest on the distribution of a safe and effective COVID-19 vaccine, and for nursing home residents and their families, the stakes are even higher: With significantly elevated risk of fatalities from the novel coronavirus among the frail and elderly, the race for a vaccine is […]
The Centers for Medicare & Medicaid Services (CMS) on Wednesday announced $165 million in supplemental funding to states currently operating Money Follows the Person (MFP) demonstration programs, specifically citing COVID-19 as a key reason to encourage the movement of individuals from the nursing home setting into community resources. “The tragic devastation wrought by the coronavirus […]
In the months leading up to the implementation of the Patient-Driven Payment Model, the overhaul of Medicare reimbursement for skilled nursing facilities that was implemented last year, several factors emerged as crucial areas for thriving under the new system. The Medicare rate of each facility is determined by a formula that draws from five care […]
The federal government late last week released a more detailed set of reporting rules for health care providers that received COVID-19 relief through a variety of stimulus programs, while also affirming that leftover cash can be spent into the new year. The Department of Health and Human Services (HHS) over this past weekend unveiled the […]
The federal government this week released its exact framework for distributing $2 billion in relief funding to nursing facilities that can reduce COVID-19 infections and deaths. The Department of Health and Human Services (HHS) will begin sending out payments to qualifying operators next month based on September performance, with three more monthly performance periods through […]
Mercy Health Services in Maryland opened a $30 million rehabilitation and nursing care facility, operated by its long-term care arm Stella Maris, the Baltimore Business Journal reported on September 9. The facility is part of a campus in Baltimore County that houses other Stella Maris services, such as an independent living complex and assisted living […]
The federal government this week announced a multiple-count indictment against a former Chicago-area nursing home owner, alleging that he and a top executive ran a “Ponzi scheme” that defrauded investors out of $22.8 million. Zvi Feiner, formerly the owner and CEO of the Skokie, Ill.-based FNR Healthcare LLC, stands accused of misleading investors about the […]
The COVID-19 pandemic continued to batter skilled nursing occupancy well into the month of June, according to the National Investment Center for Seniors Housing and Care’s (NIC) Skilled Nursing Monthly Report, with census sinking to a new low even as the pace of decline slowed. In a blog post published September 10, NIC senior principal […]
Major home health care provider LHC Group (Nasdaq: LHCG) is already preparing for a future in which in-home services don’t necessarily replace skilled nursing facilities entirely, but pick up growing levels of slack after reform efforts result in stricter caps on capacity. “I think in the next five years, the SNF industry is going to […]
A leading wound care provider sees expansion opportunity in both skilled nursing and the home despite the ongoing strains of COVID-19, with a recent private equity investment to back it up. American Medical Technologies in late August announced its acquisition by private equity firm One Equity Partners and investment management company The Silverfern Group, capping […]
Even though the federal government has released the full details behind the most recent $5 billion tranche of aid for nursing homes, set to last through December, operators shouldn’t necessarily think that the support will end there. Citing $50 billion still left in the Department of Health and Human Services’ (HHS) coronavirus relief coffers, American […]
The Villa Toscana at Cypress Woods, a 120-bed skilled nursing facility in a Houston suburb, was sold to the SNF-focused private equity firm O&M Investments for $5.3 million. The transaction was handled by the Chicago-based senior living brokerage firm Heavenrich & Company on behalf of a publicly traded real estate investment trust (REIT) and owner-operator […]
The federal government on Thursday confirmed the value-based structure of the remaining $2 billion in federal aid to nursing homes, with facilities that beat baseline COVID-19 infection and mortality rates set to receive more relief. The Department of Health and Human Services (HHS) will structure the remaining distribution as a kind of monthly contest, with […]
As COVID-19 continues to bring sickness and death to American nursing homes, Harvard University professor David Grabowski has become one of the most-quoted experts on the steps that operators and the government should take to stem the tide. But as the summer turns to fall during a pandemic that started in late winter, the long-term […]
Dwight Capital has acquired Love Funding, the Department of Housing and Urban Development (HUD) subsidiary of Midland States Bank. With the transaction, the New York-based Dwight becomes the largest dedicated Federal Housing Administration (FHA)/HUD multi-family and health care financing firm in the country, according to a press release from Dwight sent to Skilled Nursing News […]
Billions of federal stimulus dollars have kept the skilled nursing sector afloat during the COVID-19 pandemic, but as the most recent distributions hit operators’ bank accounts, storm clouds are still gathering in the distance. While nursing home operators may have been spared the immediate financial woes that hit businesses in a variety of other sectors, […]
Paragon Mortgage late last month announced the successful completion of a $16.3 million refinance loan for All Saints Healthcare in North Hollywood, Calif. The 128-bed skilled nursing facility now has permanent financing through the Department of Housing and Urban Development’s (HUD) 232/223 program, according to the Phoenix-based Paragon. All Saints provides skilled nursing care to […]
The federal government last week cracked down on COVID-19 testing in nursing homes, with a host of new fines exceeding $8,000 per instance, but some industry leaders — and a prominent geriatrician — have raised concerns about whether providers can meet the new benchmarks, or whether the plan will have the intended effects. “You cannot […]