In times past, the advice for improving census at skilled nursing facilities could generally be distilled to a data strategy. That data might range from statistics on difficult-to-place hospital patients to hard numbers around key outcomes such as readmissions to the acute setting. But always the watchword was “data,” even if it wasn’t always clear […]
Even before the pandemic, American Health Partners saw growth potential by expanding beyond a core of skilled nursing facilities. The Franklin, Tenn.-based firm operates 29 SNFs through its American Health Care arm, but it also provides a wide range of other services, from home health and hospice to psychiatric care to a nurse practitioner organization. […]
Abri Health Care, the company that emerged from the bankruptcy of skilled nursing operator Senior Care Centers, itself filed for Chapter 11 bankruptcy protection on April 16, according to landlord LTC Properties (NYSE: LTC) and court filings. Senior Care Centers LLC, now an Abri subsidiary, is owned 100% by Abri Health Services, LLC, which in […]
Prior to the pandemic, any discussion of investment in skilled nursing facilities usually came with a mention of the “stroke of the pen” risk — the concern that any action by the government around reimbursement could have a substantial impact on the value of properties, given that the majority of revenue in the sector comes […]
Even as the nationwide vaccine rollout eases the clinical crisis in U.S. nursing homes, operators across the senior living spectrum are reporting the highest levels of agency staffing use and overtime pay since the pandemic began — indicating that the longstanding workforce crunch in the sector only has only continued to worsen. That’s according to […]
Cambridge Realty Capital Companies provided a $12 million loan, backed by the Department of Housing and Urban Development (HUD), to refiance the Alden Alma Nelson Manor skilled nursing facility in Rockford, Ill. The Chicago-based Cambridge originated the loan through HUD’s 232 program, which provides long-term financing for SNFs and other residential care facilities; the fully […]
The federal government has made it clear that it wants to adjust how nursing homes receive Medicare reimbursement due to an estimated 5% increase in fiscal 2020 — a gain that runs counter to the goal of keeping Medicare spending level from year to year. Specifically, the Centers for Medicare & Medicaid Services (CMS) determined […]
Skilled nursing facilities and other health care providers will receive 2% more in Medicare reimbursements through the end of 2021 after President Biden signed a long-awaited sequestration moratorium bill into law Wednesday. Congress in late March 2020 suspended the 2% sequestration cut as the coronavirus crisis began to gain steam, and late last year bumped […]
American Health Partners, which operates 29 skilled nursing and senior living facilities among other post-acute ventures, on Wednesday announced its acquisition by the Mitchell Family Office (MFO). The Birmingham, Mich.-based MFO explicitly pointed to the diversity of American Health Partners’ holdings as a reason behind inking the deal. In addition to its brick-and-mortar senior health […]
As the federal government’s approach toward nursing homes and COVID-19 continues to shift from emergency support to reflection and reform, analysts are increasingly warning that the coronavirus-era gravy train could soon come to an abrupt stop. In particular, the past week has brought three pieces of news that may signal trouble ahead for operators and […]
The federal government is mulling several options to recalibrate the Medicare payment structure for skilled nursing facilities as it seeks to achieve its intended goal of budget neutrality — with the aim of shutting off excess payments sooner rather than later. The Centers for Medicare & Medicaid Services (CMS) this week determined that the Patient-Driven […]
Five Star Senior Living (NYSE: FVE) on Friday announced that it will exit the skilled nursing business as part of a wider plan to trim its footprint and shift its focus toward independent living and active adult properties. The Newton, Mass.-based Five Star will close or transition the skilled nursing units at all of its […]
Starting in January 2022, nursing home operators in New York will be required to return all profits in excess of 5% to the state — while also spending set percentages of revenue on specific care categories — under a new budget deal reached this week. “Now, more than ever, it is important that nursing homes […]
Given current recovery trends, skilled nursing facilities may continue to prove a safer near-term bet for investors than the traditionally more attractive senior living landscape, according to a new analysis from Mizuho Securities USA — but 2022 and beyond remains deeply uncertain. Speaking at Mizuho’s virtual health care REIT summit on Tuesday, American Health Care […]
Despite the near-term upheaval of COVID-19, an asset management firm was able to raise nearly half a billion dollars as institutional investors look to play the long game in post-acute, long-term care, and senior housing. Locust Point Capital this week announced the closure of a $428 million debt fund to support its direct lending efforts […]
Skilled nursing giant The Ensign Group (Nasdaq: ENSG) on Tuesday announced the acquisition of three new skilled nursing facilities in Colorado. The San Juan Capistrano, Calif.-based Ensign picked up the following three facilities as of April 1: The 140-bed Boulder Canyon Health and Rehabilitation in Boulder The 76-bed Berthoud Care and Rehabilitation in Berthoud The […]
The Utah-based skilled nursing operator Eduro Healthcare last week announced its expansion into Texas with a four-building pickup. Eduro signed a long-term lease to manage the quartet of buildings in Beeville, Cleburn, Hurst, and Lockhart, Texas, with a total of 434 beds. “We are excited about the opportunity to enter the Texas market,” Eduro managing […]
The federal government last week began recovering the extra Medicare payments sent to nursing homes and other health care providers during the initial height of the coronavirus crisis last year. The Centers for Medicare & Medicaid Services (CMS) in 2020 doled out more than $100 billion in cash to Medicare-certified providers under the Accelerated and […]
A international group of 95 investment firms with holdings in post-acute and long-term care companies on Thursday called on the industry to bolster care and raise wages for frontline caregivers in the wake of the COVID-19 pandemic. “As the sector recovers, and we reflect upon the damage to our societies and the loss of human […]
Capital Funding Group announced on Monday that it closed $285 million in financing for the acquisition of a skilled nursing portfolio secured by 16 facilities in the mid-Atlantic region, in partnership with its credit venture CFG Credit Partners. The bridge-to-HUD [Department of Housing and Urban Development] financing was for “a nationally recognized borrower” who is […]