For many potential skilled nursing investors, the threat of government action — either through new regulations or wholesale changes to payment models — has represented one of the largest risks. But while COVID-19 has brought unprecedented operational strain to nursing homes across the country, leaders at major health care landlord CareTrust REIT (Nasdaq: CTRE) believe […]
Category: Finance
The Ensign Group’s (Nasdaq: ENSG) skilled nursing facilities, like other many others across the U.S., have been hit by the COVID-19 pandemic, and received federal government assistance to help ease the financial strains caused by the emergency. But the San Juan Capistrano, Calif.-based operator is doing well enough that it raised its 2020 annual earnings […]
Occupancy at Sabra Health Care REIT’s (Nasdaq: SBRA) skilled nursing facilities tumbled 811 basis points since the start of the COVID-19 pandemic, but executives remained upbeat about the shift toward Medicare-funded services — even if the rafts of federal relief cash muddy the overall valuation picture. That census decline sits slightly higher than other industry […]
Omega Healthcare Investors (NYSE: OHI) reported that it collected 99% of contractual rent and mortgage payments for the month of July, with the exception of one skilled nursing operator that had been struggling well before the COVID-19 pandemic hit — a testament to the various financial aids provided by state and local governments. But Omega […]
Welltower Inc. (NYSE: WELL) CEO Tom DeRosa didn’t mince words on Thursday when describing the impact of COVID-19 on the real estate investment trust’s (REIT) senior care tenants. “When we last spoke with you in early May, Welltower was in the midst of the most challenging period in the company’s history,” DeRosa said on REIT’s […]
Health care providers that received more than $750,000 in federal awards from the federal coronavirus Provider Relief Funds (PRF) will face a single audit or program-specific audit, and they need to ensure that the funds are used in accordance with the federal government’s terms and conditions — especially since they can’t be classified as a […]
Sabra Health Care REIT (Nasdaq: SBRA) on Wednesday announced the $18.4 million sale of a skilled nursing and transitional facility leased to operator Genesis HealthCare (NYSE: GEN), formally concluding a long-term disposition plan that began in 2017. The August 1 transaction also saw the unnamed buyer assume $17.6 million in mortgage debt, backed by the […]
The federal government is proposing a range of reductions to Medicare reimbursement for various Part B therapy services as part of its Medicare Physician Fee Schedule for the calendar year 2021, including physical, occupational and speech-language services in skilled nursing facilities. The fee schedule was announced by the Centers for Medicare & Medicaid Services (CMS) […]
The federal government has opened its coffers of COVID-19 relief funds to the operators of facilities that changed hands in the months leading up to the coronavirus pandemic, but the window to strike is small. In the name of expediency, the Department of Health and Human Services (HHS) rushed out relief dollars to health care […]
An executive associated with a portfolio of nursing facilities that saw a record-setting federal loan default has been indicted on a single count of equity skimming, the Department of Justice announced late last week. Mark Yampol of St. Louis faces up to five years in prison if convicted, according to the DOJ. A federal grand […]
The federal government on Friday finalized a previously proposed rule that will bring a 2.2% Medicare payment bump to the nation’s skilled nursing facilities. Under the Centers for Medicare & Medicaid Services’ (CMS) 2021 payment rule, facilities will see a total increase of $750 million in Medicare reimbursements over the next fiscal year, which begins […]
Occupancy at LTC Properties’ (NYSE: LTC) skilled nursing facilities slid from 80% at the end of March to 71% by mid-July, but the impact on operators’ ability to pay rent without deferrals has so far been minimal, leaders at the real estate investment trust (REIT) disclosed Friday. Those occupancy figures represent voluntarily submitted data covering […]
Amedisys Inc. (Nasdaq: AMED) has already logged an uptick in diversions from skilled nursing facilities as the COVID-19 pandemic rages on, and leaders at the home health giant see even more opportunity ahead with a more expansive SNF-at-home model. “We have not seen a material recovery in elective procedures, yet we have seen a significant […]
Widespread outbreaks of COVID-19 at skilled nursing facilities have increased calls to accelerate the shift to in-home care whenever possible, but one major home health provider took things a step further by floating the potential for replacing SNF care with stays at inpatient rehabilitation facilities (IRFs). Speaking on the company’s second-quarter earnings call this week, […]
As the major publicly traded players in post-acute and long-term care prepare to reveal another set of post-COVID results over the coming weeks, Sabra Health Care REIT (Nasdaq: SBRA) CEO Rick Matros remains confident that the government’s response to COVID-19 has averted severe financial strains for its tenants — at least for now. The Irvine, […]
Berkadia this week announced the completion of about $50 million in financing for skilled nursing facilities in four separate deals across the country. First up, the real estate investment firm’s Seniors Housing & Healthcare Group provided a $22.2 million loan — backed by the Department of Housing and Urban Development (HUD) — for a 157-bed […]
Developing new post-acute and long-term care infrastructure during normal times isn’t always easy — in fact, for one Illinois company, the phased opening of three new skilled nursing facilities this year represented the culmination of more than five years of work. But as COVID-19 continues to reveal the fatal shortcomings of outdated nursing home design, […]
In terms of total deals completed, long-term care operators led a health care mergers-and-acquisitions market devastated by COVID-19 — but that volume came with a significant drop in value. The long-term care space saw 158 completed transactions in the first half of 2020, according to a new report from accounting and consulting firm PwC, the […]
COVID-19 has prompted the media and general public to consider the state of the standard nursing home more closely than ever, and many national outlets have turned to the Green House model as the prime example of the way forward. These “small-house” style developments eschew the traditional institutional nursing home structure for multiple cottages with […]
Skilled nursing operators and associated providers received about $165 million in small loans under a federal program designed to keep businesses afloat during the pandemic, an analysis of public data by Skilled Nursing News has found. In turn, those 3,300 loans — all under $150,000 apiece — helped operators in the space preserve a total […]