With reporting from Tim Mullaney and Zahida Siddiqi With the number of nursing home beds in decline across the United States — and providers large and small divesting of facilities, exiting the industry or shutting down completely — some organizations are finding ways to grow. Expansion is one theme uniting this year’s skilled nursing providers […]
The Centers for Medicare & Medicaid Services (CMS) recently finalized two Medicare Advantage rules, and the results will likely be positive for skilled nursing facility operators in 2024. In a rule issued Wednesday, CMS finalized proposals that could decrease the number of Medicare Advantage beneficiaries being diverted from SNFs to home health. That rule, combined […]
California nonprofit Eskaton, in line with other nonprofits and continuing care retirement communities (CCRCs) in the space, is divesting its skilled nursing facility assets for $35.6 million after inflationary pressures, staffing shortages and wage increases caused overbearing losses. The three facilities – Eskaton Care Center Manzanita, Eskaton Care Center Greenhaven and Eskaton Care Center Fair […]
CareTrust REIT (NYSE: CTRE) added one skilled nursing facility in Texas and one in Kansas to its portfolio underlining the company’s keenness to expand into new markets. “We are focused on not just adding buildings to existing tenant relationships, but also on identifying and working with operators that are new, or are new to us, […]
VIUM Capital and its joint-venture partner Merchants Bancorp (Nasdaq: MBIN) have completed a securitization involving over $1.1 billion in skilled nursing and senior housing bridge loans, in a transaction that the firms tout as a first for the sector. “[This deal] will transfer the credit risk on the tranche of those loans to … outside […]
Blueprint Healthcare Real Estate Advisors has arranged the sale of 12 skilled nursing facilities in Utah, with a portfolio of 1,275 licensed beds, to a Nevada-based operator. Blueprint did not disclose the identities of the parties involved, but shared in a March 30 press release that the firm was initially approached “by a longstanding and […]
Ventas (NYSE: VTR) on Friday announced that it intends to take ownership of the collateral that supports its approximately $486 million cash-pay mezzanine loan to Santerre Health Investors. “Ventas expects to take ownership of the Santerre Portfolio through a ‘loan to own’ structure that converts the outstanding principal amount of the Santerre Mezzanine Loan to […]
The process of hiring immigrant workers for the nursing home industry – from start to finish – looks like a grueling task for operators, but leaders in the industry say it’s the closest to a ‘silver bullet’ we have to meeting the staffing crisis. Such a long-term investment is marred by glacial immigration processes, and […]
Medicaid revenue per patient day (RPPD) for skilled nursing facilities is at an all-time high. That’s according to the latest data from NIC MAP Vision, which released its new skilled nursing monthly report on March 30. Despite this new benchmark being reached, Medicaid rates still often are not high enough to cover the cost of […]
As the staffing shortage among nursing homes continues to derail sector recovery, states are taking additional steps to ease some workforce challenges, namely, staffing agencies overcharging for workers. In Massachusetts, Attorney General Joy Campbell issued an advisory to all temporary nursing agencies operating in the state, reminding them of what rates they may charge to […]
Chief financial officers of skilled nursing facilities are increasingly collaborating with the front line while paying close attention to key operational metrics. Such evolutions in the role are crucial, given immense financial pressures caused by the skyrocketing cost of care and low Medicaid reimbursement rates. CFOs in the space would do well to collect real-time […]
Kandu Capital and Bloom Senior Living’s decision to sell the last remaining assets in skilled nursing and psychiatric care was a continuation of a long process to increase the group’s portfolio of senior housing rather than any macro factors related to the skilled nursing space. “Were they a sale arising out of anything with any […]
Greystone Monticello on Monday announced the swift closing of $201.3 million in capital financing for a portfolio of New Jersey SNFs. The majority of financing – $191.3 million of it – was for a health care bridge loan, while $10 million was for a working capital facility on behalf of Peace Capital. Greystone, a private […]
Bloomfield Capital, direct lender and equity investor in commercial real estate assets, announced the closing of a $12.0 million senior bridge loan, which was used to refinance a maturing loan on a skilled nursing facility located in Southern California. The loan’s sponsor purchased and restructured multiple senior living assets throughout the Western U.S. and is […]
Nursing home spending was among the highest compared to other health care categories at the beginning of this year, increasing by 9.2% in January, while the sector’s earnings were also ahead of hospitals and ambulatory care. That’s according to Health Sector Economic Indicators (HSEI) briefs compiled by Altarum, a nonprofit research and consulting organization serving […]
The Federal Reserve’s decision to raise interest rates again by 25 basis points on Wednesday will likely slow deal making in the nursing home sector, especially in the aftermath of the Silicon Valley Bank’s (SVB) closure last week and its impact on regional banks. Experts told Skilled Nursing News that it’s a good thing, however, […]
As resident falls are still a primary source of financial loss for long-term care providers, researchers and tech companies are continuing to develop and improve on tools that predict the risk of falls. The latest offering in clinical tools that predict falls is a risk prediction model aiming to identify residents of nursing homes at […]
Two years after launching real estate investment and management firm Mozart Healthcare in 2016, co-founder Archie Shkop decided to start a skilled nursing operating company. “I started realizing that as much as I knew operations, I needed to be in the thick of it with my tenants to understand the challenges they were facing,” Shkop […]
In announcing fourth quarter earnings results, Invesque (TSX: IVQ) said Thursday that it was selling eight skilled nursing facilities for $125 million as the company moves toward a primarily private-pay, seniors housing portfolio. In February, the Company entered into a purchase and sale agreement to sell the skilled nursing facilities the company currently leases to […]
Citing a tough economic climate of labor shortages and higher staffing costs, Heritage Operations Group is selling 22 of its 44 skilled nursing facilities and an assisted living facility. “Heritage Operations Group has been strategically evaluating how to best provide health care services into the future,” said Hart in a statement to WGLT.org on Wednesday. […]
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