Dwight Capital and its mortgage real estate investment trust (REIT) affiliate Dwight Mortgage Trust ended the second financial quarter with $297.6 million in seniors and health care financings. Notable transactions from Q2 included bridge loans for an eight-property SNF portfolio in Minnesota, along with New Jersey-based Riverfront Rehabilitation and Healthcare Center and continuing care retirement […]
Category: Finance
Whether it’s uttered during an interview, highlighted during an industry conference or referenced in a news release, I’ve heard and seen the word “crisis” quite often during my time reporting on the skilled nursing industry. And it’s not surprising the word has been used so frequently. Covid-19 was a global crisis that hit the nursing […]
While the staffing crisis continues to have devastating impacts on nursing homes across the country, some states are expanding stopgap measures to recruit and retain positions that are in many ways the backbone of the industry – the certified nursing assistant (CNA). Such initiatives in states like California, Minnesota and Wisconsin come at a time […]
The second attempted sale of a bankrupt Iowa nursing home chain may be held up yet again as the current owner reportedly has plans to close three of the 10 facilities. QHC was expected to sell its portfolio to Cedar Health Group after a federal bankruptcy judge gave the green light to the deal back […]
Nearly half of the for-profit nursing homes in the state of Maryland have changed hands in the last five years, putting operators like Lorien Health Services in a unique position. Lorien, which offers a range of services from skilled nursing to assisted living across its 15 facilities, was founded in 1977 by the same family […]
Retail giant Amazon (NASDAQ: AMZN) has agreed to buy primary care organization One Medical in a cash deal valued at $3.9 billion. One Medical’s services as a direct-to-consumer membership-based primary care practice involves the use of a mobile app that helps schedule appointments, renew prescriptions and message with a provider. As of March 31, One […]
Consulting firms in the skilled nursing space are getting a better snapshot of the labor market as data continues to pour in, and the outlook remains bleak – dwindling workforce numbers are running up against increased average cost of labor and overall inflation. While the SNF workforce lost approximately 238,500 staff during the pandemic, an […]
As the year so far has brought rising inflation, the looming possibility of a recession and uncertainties around staffing stability and post-Covid demand, there are still operators — like Ensign Group (Nasdaq: ENSG) — that have continued on a path toward growth. In a note previewing 2Q earnings for the health care services industry, Stifel […]
Skilled nursing providers have walked a tightrope trying to rebuild census, balancing bringing on agency staffing with holding back at the risk of further disrupting an already wobbly workflow or compromising care quality. Some have seen the practice as a necessary evil over the course of the pandemic, while others have vowed at all costs […]
Evans Senior Investments (ESI) assisted in the sale of a large Florida skilled nursing community. Built in the 1960s, the 200+ bed facility features semi-private or three bed wards. The community was operating at a loss at the time of marketing with occupancy at 41%, according to a news release. Prior to the pandemic, the […]
A number of new partnerships have formed between health systems and skilled nursing facilities centered on offering consumers access to new services or services that require specialized skill sets. “A high-performing SNF is a critical ally for health systems, particularly those that are focused on performance in value-based care arrangements or looking to enable earlier […]
Providers are staring down yet another slash to their bottom lines as the federal government last week proposed reductions to Medicare reimbursement for various Part B therapy services. Early assessments of the 2023 Medicare Physician Fee Schedule Proposed Rule have found that cuts could fall between 4 to 4.5%, according to Mark Besch, senior specialist […]
If there’s one financial backing source that’s become a favorite among nursing home owners it’s U.S. Department of Housing and Urban Development (HUD) funding. Even still, it may come with some limitations. HUD loans can be used to purchase, build, refinance or remodel nursing homes, among other health care facilities, and their utilization in the […]
Specialty investment bank Ziegler closed on Series 2022A Bonds for Ohio-based not-for-profit senior care provider Eliza Jennings. Eliza Jennings owns and operates three senior living campuses with a combined total of 216 skilled nursing beds, 175 independent living apartments and villas and 89 assisted living units. The Renaissance, located on 88 acres in Olmsted Falls, […]
The draft version of a unified Medicare payment model for post-acute care contains “numerous fundamental flaws.” That’s according to a statement issued late last week by the American Hospital Association (AHA). Among those flaws, AHA cited the lack of a workable risk adjustment approach and missing reforms outlined by the Centers for Medicare & Medicaid […]
Some lawmakers are listening to calls for help from the nursing home industry, at least at the state level. Pennsylvania Governor Tom Wolf recently approved a Medicaid reimbursement increase of 17.5% for the state’s nursing homes for next year, translating to an increase of around $35 per resident per day. The increase to the state’s […]
Hiring in the health care field continues to grow as employers in the sector saw an estimated 56,700 more jobs in the month of June. Nursing care facilities specifically added 5,400 workers last month, according to Bureau of Labor Statistics (BLS) data, but the industry still employs more than 200,000 fewer workers compared to pre-Covid […]
An estimated 72% of New York’s 394 for-profit nursing homes do business with companies that have common or overlapping ownership, a recent report from the Empire Center for Public Policy reveals. The report showed that payments from for-profit nursing homes to these related companies totaled almost $1.1 billion, or 16% of their total expense for […]
Guidance on staffing measures tied to the five-star rating system was released on Thursday – the Centers for Medicare & Medicaid Services (CMS) updated its staffing measures to include three on staffing levels and three on staff turnover. Total nurse staffing hours per resident per day on weekends, in addition to previously announced nurse turnover […]
Nursing home occupancy continues to climb from its pandemic low of 74% in the first quarter of 2021 – the data point currently sits at 78.5%. NIC MAP Vision reported a 0.9 percentage point increase for skilled nursing census during the second financial quarter, but the number remains below pre-pandemic levels of 86.6%. That’s an […]