The skilled nursing industry has — with good reason — thrown much of its energy and focus onto the challenges of the Medicare reimbursement overhaul taking effect on October 1 of this year. But according to one prominent industry leader, the challenges of Medicaid pose a far greater threat to providers — particularly as the […]
The Ensign Group (Nasdaq: ENSG) closed in on 200 skilled nursing facilities with the acquisition of a combined SNF and senior living facility in Harlingen, Texas. Golden Palms Rehabilitation and Retirement features 60 skilled nursing beds, 38 assisted living beds, and 92 independent living units. The terms of the purchase, which closed June 1, were […]
Acknowledging the disconnect between investor sentiment and opportunity in the skilled nursing space, the CEO of National Health Investors (NYSE: NHI) invited skeptics to check out his company’s portfolio. “I know a lot of people think about skilled nursing and crinkle their nose, but if you took a deep dive on our skilled nursing portfolio, […]
The new Medicare model for skilled nursing facilities more closely links reimbursements with resident conditions — and making sure that facilities completely document those conditions will soon be an essential step for success. But because payment under the current Resource Utilization Group (RUG) system is driven primarily by therapy minutes, capturing those conditions on the […]
A pair of properties formerly operated by the troubled Dycora Transitional Health and Living chain in the Golden State have a new owner. Eduro Healthcare entered the California market with the acquisition of the two former Dycora properties in Fresno and Stockton, Calif. Michael Bewsey, managing partner at the Salt Lake City-based Eduro, characterized the […]
Under the leadership of founder and CEO Stephen Rosenberg, Greystone has grown from a small consulting shop to a heavyweight in the health care and multifamily lending space, with its hands also extending into operations and development. Rosenberg has seen a few decades’ worth of change in the industry in his time at the helm, […]
The collapse of a Chicago-area nursing home business resulted in the largest loss in history for the Department of Housing and Urban Development’s (HUD) loan guarantee program for skilled nursing facilities, the New York Times reported Friday — prompting the paper to question the safeguards in place for the program. The nursing home chain in […]
The Texas Legislature failed to pass two bills that would have provided Medicaid reimbursement relief for skilled nursing providers before the end of its most recent session. That could spell trouble for providers in the Lone Star State, which already has a notably low Medicaid reimbursement rate, according to Kevin Warren, president and CEO of […]
Eastern Union has only been in the skilled nursing real estate space for about three years, but the executive in charge of its health care group has “lofty goals” for deal volume. The New York City-based mortgage brokerage has handled about $12 billion in real estate deals over the last three years, with health practice […]
Two 120-bed skilled nursing facilities in Houston and Lubbock, Texas — both formerly operated by Senior Care Centers — were leased to two regional operators based in the Lone Star State. The transaction, which was facilitated by the Chicago-based advisory firm Helios Healthcare Advisors, was structured at market lease rates and with pre-negotiated purchase options. […]
Patients are discharged from skilled nursing facilities at notably higher rates around day 20 of their Medicare benefit period, compared with day 19 or day 21, a study published Tuesday in JAMA Internal Medicine found. The authors of the study, who hailed from the University of Pennsylvania and the University of Chicago, studied patients discharged […]
As the director of finance for The CHMS Group, Gabe Guttman says many days feel like “a war on many fronts.” With compressed Medicaid rates, a Medicare Advantage market dominated by a duopoly that holds most of the cards, and coming changes to the Medicare payment system for nursing homes, accurately capturing reimbursements is more […]
The final three former Skyline Healthcare nursing homes placed in receivership in Massachusetts have closed. The properties in New Bedford, Fall River, and Dighton, Mass. formally closed Friday, according to a report from the Providence, R.I.-based CBS affiliate WPRI. All of the residents had found new places to receive care, Bedford Village nursing supervisor Grace […]
Lancaster Pollard landed a pair of bridge loans for skilled nursing operator The Arboretum Group, pulling off a total of $42 million in recapitalization efforts at five properties. The first loan, a $12 million product with a 12-month term, refinanced existing debt on two skilled nursing facilities in southern Texas. The second deal saw the […]
From the outside looking in, the flood of capital in the skilled nursing space may seem strange. After all, the main Wall Street headlines about SNFs and their publicly traded landlord partners always come with a heavy dose of caution: Reimbursement pressures, staffing strains, and liability risk make nursing care a bitter pill to swallow […]
Diversicare Healthcare Services (Nasdaq: DVCR) on Wednesday announced a plan to exit the Kentucky market, ceding control of the 10 skilled nursing facilities it operates in the state. The Brentwood, Tenn.-based Diversicare reached an agreement with landlord Omega Healthcare Investors (NYSE: OHI) to terminate operations at the 10-building portfolio, which consists of around 885 skilled […]
Genesis HealthCare (NYSE: GEN) has seen stabilizing occupancy and length of stay in recent quarters, positive trends that its leaders on Wednesday attributed to an unlikely source: long-term care residents covered under Medicaid. “We’re very happy to bring on patients that need our services that have long-term care needs, and we think that that’s the […]
Greystone on Tuesday announced the successful closing of a nearly $72 million bridge loan used in the acquisition and refinance of a seven-building skilled nursing portfolio across North Carolina and Kentucky. The New York City-based lending and advisory firm extended 24-month payment terms on the $71.9 million bridge financing, along with a pair of six-month […]
Several former Skyline Healthcare properties in South Dakota could soon be transferred from a court-appointed receiver to a new permanent operator, but one lender involved in the case is arguing that it won’t get paid if the deal happens. The Aberdeen News first reported the news late last week. Skyline fell apart financially in South […]
In a bid to keep its struggling skilled nursing facility open, Sonoma Valley Hospital (SVH) is looking to outsource operations to The Ensign Group (Nasdaq: ENSG). A proposal for Ensign to take over operations on July 1 is in the works, with the final approval slated to come at a special board meeting scheduled for […]
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