CareTrust: COVID Response Proves State, Federal Leaders ‘Will Not Allow the Industry to Fail’

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 […]

Skilled Nursing Giant Ensign Returns All $110M in Federal Relief Funds After ‘Record-Breaking’ Quarter

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 […]

Sabra’s Surging Medicare Mix Helps Offset Skilled Nursing Occupancy Drops During COVID-19

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 […]

As Tenants Receive $250M in Federal Relief, Omega Collects 99% of Rent and Mortgage Payments for July

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 […]

After ‘Most Challenging Period in the Company’s History,’ Welltower Sees Stability Ahead for Needs-Based Care

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 […]

As Provider Relief Audits Loom and Scrutiny Increases, Tracing Dollars to Care Vital to Avoid Clawbacks

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 Completes Genesis Disposition with $18.4M Sale; Ensign Acquires Post-Acute Care Campus in Arizona

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 […]

CMS Proposes 9% Cut to Medicare Therapy Rates, Threatening PT, OT, Speech Services in Nursing Homes

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) […]

Former Rosewood Executive Indicted in Nursing Home Equity Skimming Case

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 […]

CMS Finalizes $750M Medicare Payment Boost for Nursing Homes in Fiscal 2021

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 […]

LTC Properties’ Skilled Nursing Occupancy Slips to 71%, But Rent Deferrals Minimal

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 […]

Home Health Heavyweight Encompass Sees Potential to Replace Skilled Nursing with IRFs Post-COVID

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, […]

Matros: Federal Aid Keeps Nursing Homes Afloat for Now, but Industry Facing ‘One Long Wave’

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’s $50M Skilled Nursing Summer; Cushman & Wakefield’s Portfolio Deal

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 […]

Five Years in the Making, Thrive Sees Post-COVID Upside in Three New Skilled Nursing Facilities

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, […]

How a Nursing Home Developer Made Green Houses Work: ‘It’s Not Hard to Pencil Out’

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 […]