Home health operators aren’t the only players in post-acute and long-term care looking to capitalize on a weakened skilled nursing sector: As health systems and managed care insurers look to adapt their offerings to the post-COVID tastes of their patients, home health providers may find themselves with significant regulatory and payment tailwinds as they work […]
Walker & Dunlop this week announced the completion of $172 million in financing for a seven-building skilled nursing portfolio across the Northeast and the Midwest. Four of the properties were refinanced through the Department of Housing and Urban Development’s (HUD) 232/233 program, with the remaining three undergoing HUD 232 loan modification. The portfolio consisted of: […]
Six skilled nursing entities — spanning operations, management, and rehabilitation — this week filed for Chapter 11 bankruptcy after the reinstatement of a multimillion False Claims Act (FCA) judgement against them last year. The entities themselves are part of a group of corporate affiliates of major nursing home operator Consulate Health Care, but the bankruptcy […]
Genesis HealthCare (NYSE: GEN) on Wednesday announced that it will voluntarily remove itself from the New York Stock Exchange — while also landing a $50 million capital infusion from ReGen Healthcare as part of an ongoing restructuring effort. ReGen’s $50 million debt investment gives the company — a health care turnaround firm — a 25% […]
Welltower Inc. (NYSE: WELL) late Tuesday announced that it will largely end its relationship with troubled nursing home giant Genesis HealthCare (NYSE: GEN), with its joint venture health system partner ProMedica picking up some of the buildings — while also divesting 25 properties acquired through its 2018 ProMedica JV. The Genesis exodus spans 51 assets, […]
With federal relief propping up nursing home operations during the ongoing COVID-19 crisis, the mergers-and-acquisitions market has remained relatively stable over the past year — but buyers and sellers are already starting to adjust to a world where the full licensed bed capacity is more of a pipe dream than a realistic benchmark. Amy Sitzman, […]
Whether or not home health providers can maintain the volume they siphoned away from skilled nursing facilities during the pandemic has emerged as a top question for policymakers and financial analysts alike. A permanent shift from SNF to home could portend financial and operational chaos for a sector already battered by COVID-19, the thinking goes, […]
The vaccine rollout at nursing homes and other congregational care settings has brought rapid and substantial declines in COVID-19 case numbers, but leaders at a top landlord in the sector say the desperately welcome trend has yet to have an impact on persistently low occupancy. “Fortunately, the rollout of the vaccine to over 94% of […]
Private equity ownership of nursing homes has resulted in a variety of negative outcomes, including an elevated risk of death for short-term Medicare patients, higher rates of antipsychotic drug use, and increased taxpayer spending on episodes of care, a new study concluded. Published as a National Bureau of Economic Research working paper, the February 2021 […]
The size and permanence of a COVID-era shift to home health has emerged as a top metric to watch in post-acute and long-term care in 2021. Should hospitals and patients continue to elect direct trips home even after the COVID-19 danger subsides, the natural trend could have far-reaching effects on the future of the nursing […]
Per-bed prices — a gold-standard valuation metric for buyers looking to invest in skilled nursing facilities — have remained stable for most of the COVID-19 pandemic, and even picked up at the end of 2020. But focusing on cash flow is perhaps even more important as the government shoots money into the industry. Bed prices […]
A management company that provided financial back-office services to health care facilities agreed to pay $714,996 to resolve allegations that it violated the False Claims Act — specifically related to claims for reimbursement of Medicare bad debt — acting U.S. attorney Rachael A. Honig announced this week. The federal government through the U.S. Department of […]
Executives at LTC Properties (NYSE: LTC) on Friday struck an upbeat tone about some of the top pressure points for health care real estate investment trusts (REITs) amid the ongoing pandemic, including a troubled tenant and the significant shift of patient volume to home health. Genesis HealthCare (NYSE: GEN), the nursing home giant that spurred […]
The national nursing home landscape saw multiple positive operational trends prior to the onset of the COVID-19 pandemic, including a slight gain in margins and an increase in the proportion of top-ranked facilities, according to a new national benchmarking report. The national average nursing home net income per patient day rose from just two cents […]
Bank Leumi USA this week announced the completion of a $23.5 million deal covering four skilled nursing facilities and one assisted living property operated by Prestige Care. The family operator used the cash to refinance an existing asset-based loan revolver and a real estate term loan, with the goal of boosting liquidity and funding future […]
Over the course of 2020, as skilled nursing facilities battled the COVID-19 pandemic, the Patient-Driven Payment Model (PDPM) was one of the bright spots for operators, allowing them to secure payments for caring for the clinical needs of patients at a time when those needs grew markedly more complex. The Centers for Medicare & Medicaid […]
PruittHealth, a major nursing home operator across the Southeast, took a $137.2 million revenue hit during the COVID-plagued year of 2020 — but saw a significant increase in demand for home health services. That income loss includes the operator’s skilled nursing, therapy, pharmacy, and hospice business lines, according to a new report released this week, […]
Operators of skilled nursing facilities for years have dealt with the aging post-acute and long-term care infrastructure across the U.S., coping with problems ranging from multi-resident rooms to poor plumbing to outdated building design. During the COVID-19 pandemic, it became apparent that poor building design was more than a headache for cash-strapped operators; in the […]
Executives at CareTrust REIT (Nasdaq: CTRE) expect to see hospital referrals to skilled nursing facilities eventually return, with executives arguing that a recent spike in diversions to home health is unlikely to become permanent. Eventually, the referral destinations for post-acute patients are going to stop coming out so lopsidedly in home health’s favor, according to […]
Welltower Inc. (NYSE: WELL) this week announced another major write-down related to troubled nursing home tenant Genesis HealthCare (NYSE: GEN) as the provider’s future — along with the outlook for the rest of the sector — remains unclear. During the fourth quarter of 2020, the Toledo, Ohio-based real estate investment trust (REIT) wrote down $83 […]