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 […]
Category: Finance
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 […]
The investment will be used to deepen the company’s presence in California, Ohio and Texas, in addition to expanding into other markets, according to a news release. CareConnectMD provides primary and palliative care to high-risk populations in care environments such as the home and skilled nursing facilities. CareConnectMD is currently one of only eight high-needs […]
The Ensign Group (Nasdaq: ENSG) and its captive real estate company Standard Bearer are off to a busy start in July, adding five skilled nursing facilities and one campus to its operations and five real estate assets to the portfolio. These transactions bring the total number of acquisitions in 2022 to 21, the company’s fastest […]
Infection preventionists are more than just an afterthought for nursing homes in 2022. The important role they play in day-to-day operations for skilled nursing facilities is one of the many lessons operators have learned over the course of Covid. But as staffing shortages continue to hurt the industry, operators have had to get creative with […]
A portfolio of 17 existing skilled nursing facilities in West Virginia changed hands this week in a $582 million deal involving a joint venture between a skilled nursing real estate owner and a large regional operator of post-acute facilities. Ohio-based CommuniCare Health Services took over operations of Stonerise, expanding the company’s reach in its home […]
Mergers and acquisitions in the nursing home sector made up a staggering 40% of all senior care deals in June – a surprising jump compared to April and May, which saw 42.5% in SNF deals for both months combined. “We know the buyer interest is there, so this means more SNF owners got off the […]
Physicians are needed more than ever in a nursing home, industry leaders and researchers say, as the sector continues to move toward a setting with higher acuity patients. And the role may become more attractive to prospective clinicians as the post-acute care setting isn’t “tainted by bureaucracy in medicine,” according to Dr. Justin DiRezze, CEO […]
Some healthy competition may be good for nursing home providers. At least that’s what Kevin Griffith, assistant professor in the Department of Health Policy at Vanderbilt University Medical Center and an investigator at the Partnered Evidence-based Policy Resource Center, found when looking at hospital discharge patterns. In a study published in Health Affairs this month, […]
Looming cuts to Medicare funding for nursing homes has garnered attention from a group of congressional leaders. Two separate letters penned by 22 senators and 18 members of the house were sent to the Centers for Medicare & Medicaid Services (CMS) late last month, calling on the federal agency to phase-in the proposed $320 million […]