Under PDPM, Providers Should Expect Close Scrutiny of Nursing Records

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 […]

Eduro Takes Over Two Dycora SNFs in California; $1.5M Texas Turnaround

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 […]

Bill to Boost Medicaid Rates for Texas Nursing Homes Dies Before a Vote

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 […]

Senior Care Centers SNFs Leased to New Regional Operators; $20.7M in Financings for Summit REIT

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. […]

Skilled Nursing Facility Discharges Spike When Medicare Copayments Kick In

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 […]

Final Three Skyline Nursing Homes in Massachusetts Close Doors

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 […]

$42M Portfolio Refinance in Texas; Cambridge Turns Two with $10M Deal

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 […]

Buyer Infighting, Diligence Bombshells, and Long-Term Optimism: Confessions of a Skilled Nursing M&A Executive

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 to Exit Kentucky, Hand Over Control of 10 Skilled Nursing Facilities

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 […]

Bucking Industry Trends, Genesis Sees $25 Million Opportunity in Long-Term Residents

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’s $72M Portfolio Deal; Formation’s 12-SNF Sale in VA; Strawberry Fields Grows to 70 SNFs

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 […]

Transfer of Former Skyline Properties Faces Opposition from Lender

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 […]