As part of the sweeping $2 trillion coronavirus stimulus package signed into federal law last week, the Small Business Administration will soon offer up to $10 million in fully forgivable loans to small businesses across all industries under its Paycheck Protection Program (PPP). Skilled nursing facilities feeling the payroll or rent pinch can capitalize on […]
Category: Finance
The federal government on Saturday announced a plan to offer advance Medicare fee-for-service payments, as well as accelerated reimbursements, to all Medicare Part A and B providers. Under the terms of the emergency action, most providers who bill under Medicare Parts A and B can request up to 100% of their Medicare payment for a […]
A group of senior housing and care lenders on Thursday emphasized that financing remains available in the space, but buyers and sellers shouldn’t expect business as usual when trying to complete deals during the COVID-19 pandemic. “There is capital out there, but I would say it is definitely a more limited supply and not nearly […]
The financing of skilled nursing facility deals has taken a backseat to emergency health concerns amid the coronavirus crisis, but some transactions are still moving along — while the long-term state of the M&A landscape, along with the rest of the U.S. economy, remains unclear. Over the past week, Skilled Nursing News reached out to […]
Officials had already expressed concerns about the rise of private equity investment in skilled nursing facilities, citing a lack of transparency and concerns over quality. Then the coronavirus crisis hit. As nursing home operators struggle to fight back a disease described as “almost a perfect killing machine for the elderly,” several resident advocates raised worries […]
A note to our readers: As the coronavirus crisis continues to unfold, SNN will bring you the information that you need in one easy-to-access place. The weeks ahead will bring challenges both macro and micro, with potentially sweeping federal action needed to “bend the curve” and maintain our health care system’s ability to function — […]
Genesis HealthCare (NYSE: GEN), one of the largest post-acute operators in the U.S., reported one confirmed case of the COVID-19 disease at one of its facilities, in an otherwise optimistic fourth-quarter and year-end earnings call for 2019. The Kennett Square, Pa.-based operator, which has hundreds of skilled nursing facilities and assisted and senior living centers […]
A sweeping ban on nursing home visits dominated headlines both inside and outside the industry over the weekend, but buried in the federal government’s recent emergency COVID-19 guidelines was a waiver of the three-day hospital stay rule for Medicare skilled nursing coverage. Under normal conditions, a Medicare beneficiary must remain in the hospital for three […]
The Patient-Driven Payment Model (PDPM) was specifically designed to reimburse skilled nursing facilities based on the condition of the patients that they treat, rather than by the minutes of therapy provided to those patients. As part of the change, the Centers for Medicare & Medicaid Services (CMS) included a 25% cap on group and concurrent […]
Another skilled nursing facility in the state of Washington has reported an outbreak of COVID-19, the disease caused by the novel coronavirus that is sweeping the globe — resulting in major declines in the stock prices of several real estate investment trusts (REITs) with holdings in the skilled nursing and senior housing sectors. That facility, […]
A skilled nursing operator or investor could be forgiven for running toward the exits when presented with the opportunity to take over buildings in rural West Texas. Between persistently low Medicaid rates in the Lone Star State and the general operational difficulties that rural buildings face in markets across the country, the combination may not […]
Medicare Advantage plans have long been a thorn in skilled nursing facilities’ sides, with lower-per day rates and increased pressure to reduce lengths of stay than traditional fee-for-service Medicare. But a new report shines a light on why seniors are increasingly choosing the plans in the first place, reinforcing recent calls to embrace working with […]
The stock market was rocked on Monday by a combination of factors, including concerns about the novel coronavirus, with a sharp downturn Monday morning triggering a temporary halt on trading — and the Dow Jones Industrial Average, the S&P 500, and the Nasdaq all ending the day down more than 7%. But even though the […]
The recent federal enforcement pushes haven’t just brought new challenges to skilled nursing operators, who must now adjust to a world of warning icons and lists of struggling facilities now made public on a monthly basis. The lenders that finance skilled nursing acquisitions and renovations have been forced to take a hard look at their […]
Anthem Blue Cross granted $7 million to Sierra View Local Healthcare District in Tulare County, Calif. to support the construction of a new 44-bed nursing and sub-acute facility — which will replace an existing 35-bed facility. The funds will also be allocated to construct two brand-new rural health facilities in Tierra Bella and Strathmore, Calif. […]
At most skilled nursing facilities, the patient and resident population is primarily covered by the state’s Medicaid program — and in many states, the reimbursement for such care doesn’t approach the cost of providing it. As a result, providers across the country have common cause in lamenting the state of payment from their largest payer. […]
Skilled nursing operators with a strong regional focus and market presence are attractive to potential investors and capital partners, but ultimately the realities of the market will trump even the best operator. The operator-driven nature of the SNF field makes the people involved in a given facility paramount, but investors can’t overlook how susceptible nursing […]
Despite a net loss for the quarter, skilled nursing operator Diversicare Healthcare Services (OTCQX: DVCR) touted its performance at the end of 2019, pointing to a 7.5% Medicare rate boost and generally positive performance under the new Patient-Driven Payment Model (PDPM). “With our portfolio changes behind us after the Kentucky exit and the implementation of the new […]
Between 2014 and 2018, the average net income for nursing homes dipped to 50 cents per patient day, down from $4 at the start of that timeframe — but still up from a loss of four cents per day in 2017, according to a new analysis. Specific statistics fluctuate according to region, with some geographies […]
In the wake of an outbreak of the novel coronavirus at a Washington nursing home, the Centers for Medicare & Medicaid Services (CMS) will immediately refocus inspections of skilled nursing facilities on compliance with the agency’s infection control policies — and suspend all non-emergency survey work, the agency announced on Wednesday. “We obviously are looking […]