One of the nursing home industry’s largest trade groups, LeadingAge, received a $1 million grant from the John A. Hartford Foundation on Tuesday with the aim of furthering some of the recommendations laid out in the recently released National Academies of Sciences, Engineering and Medicine (NASEM) report. The report – dubbed The National Imperative to […]
Category: Finance
ProMedica’s Angela Brandt is fairly upbeat about the year ahead, despite the fact that the not-for-profit health system’s senior care division is facing rough waters and headwinds continue to pound the industry as a whole. ProMedica Senior Care reported a $124.3 million loss during the first quarter of 2022, pointing to lagging occupancy recovery and […]
Federal legislation was reintroduced on Monday to effectively remove a certified nursing assistant (CNA) education barrier for the nursing home sector, at a time when the industry is facing a historic staffing crisis. Under the Ensuring Seniors’ Access to Quality Care Act, originally introduced by Sens. Mark Warner of Virginia and Tim Scott of South […]
Skilled nursing facilities situated in small markets across the country have faced mounting pressure to sell or close after more than two years of a pandemic, an ongoing workforce crisis and federal reform on the horizon with no monetary support. If a closure does happen, that leaves residents and their families sometimes separated 40-plus miles […]
Hospital systems across the country are seeing a bottleneck of referrals to nursing homes, as staffing shortages have forced many facilities to hit pause on new residents. The Washington State Hospital Association (WSHA) saw an opportunity to address the backup of patients in an upcoming state legislative session, with plans to advocate for more funding […]
Hudson Realty Capital anticipates that a new bridge lending platform will deploy $300M to $400M in loans to senior living and skilled nursing communities within 18 to 24 months. The platform has been in the works for “quite some time” and follows Hudson Realty Capital’s first senior housing transaction last fall, Managing Director Justin Elshire […]
Building partnerships with leaders of different parts of the health care continuum will continue to be a big part of strengthening the industry’s business model, as getting recognition from other sectors builds credibility, along with referrals and business opportunities. That’s according to executives from Genesis HealthCare, ProMedica Senior Care and Principle LTC. Larger corporate organizations […]
Tryko Partners continues to expand its New Jersey skilled nursing portfolio after acquiring two facilities from one of the state’s largest health systems. Purchased from Virtua Health, the two facilities will be renamed Berlin Rehabilitation & Healthcare Center and Mount Holly Rehabilitation & Healthcare Center, according to a news release announcing the deal. The standalone […]
The clock is ticking on the long-term care sector. Whether an operator is part of a larger organization, a continuing care retirement community (CRCC), or a standalone facility, industry headwinds are pushing leaders across the country to think more closely about what moving to private rooms would look like for their organization. For many that […]
Skilled nursing occupancy continues to reach new pandemic highs – reaching 77.1% at the end of March 2022 – as recovery continues after a slight downturn during the height of the omicron variant. The sector’s occupancy has increased 1.2% since January, according to data from the NIC MAP Data Service, powered by NIC MAP Vision. […]
Skilled nursing was one of three health care sectors to experience an increase in Medicare spending, while spending overall for 32 million Medicare beneficiaries declined in 2020. An analysis conducted by the Kaiser Family Foundation confirmed SNF spending experienced a 4.4% bump, or $1.1 billion increase between 2019 and 2020, despite a decrease in utilization; […]
As many in the nursing home sector pursue opportunities to add additional service lines to diversify their offerings, and potentially build new revenue streams, Ignite Medical Resorts has stuck to doing one thing well — and so far it’s paid off. The short-term rehabilitation and nursing care provider has turned the traditional post-acute experience on […]
Healthcare Transactions Group completed the sale of Bon Secours Mercy Health’s post-acute portfolios in Ohio and Florida. This marks the final phase of a divestiture process that began in November 2019. The Ohio portfolio included four skilled nursing facilities, four assisted living facilities and one independent living facility. The Florida portfolio was made up of […]
There has been a flurry of proposed legislation to better regulate staffing agencies, as those in the sector continue to charge soaring prices for much-needed staff in nursing homes. Operators and the state associations that represent them have pressed lawmakers to pass legislation on the largely unregulated staffing agency industry, with the exception of a […]
Just a few weeks after announcing $126 million in financial losses for the first financial quarter of 2022, ProMedica has made major changes to its leadership lineup. Arturo Polizzi, for one, has been promoted to serve as president for the company, a title previously held by CEO Randy Oostra. Polizzi will take on the new […]
Finance leaders have updated their outlook on the nursing home sector – with data points worsening as funding cuts and inflation continue to do lasting damage to the industry. About 47% of nursing home residents are now at risk of displacement due to financially imperiled facilities; roughly 417,000 residents may be relocated, according to a […]
Ziegler announced it closed $27.5 million in Series 2022A and 2022B Bonds for the Lutheran Homes of South Carolina. The Luther Homes of South Carolina currently operates five life plan communities, three hospice offices and four non-medical in-home services throughout South Carolina that includes a total of 1,077 units – 409 independent living, 308 assisted […]
As the nursing home workforce emergency worsens across the country, aging services organizations are pushing back on “illegal and unconstitutional” staffing laws. LeadingAge New York, for example, on Monday filed a lawsuit seeking to overturn two state mandates: one requiring a minimum staffing ratio and another which dictates where nursing homes may direct their funds. […]
Despite the arduous operating challenges facing skilled nursing providers in 2022 — workforce shortages, inflation, occupancy and looming federal regulations just to name a few — the future of the sector may not be as dark and stormy as one might anticipate. The obstacles nursing home operators have already and will continue to face over […]
Everything Highland Oaks has built has been for “the grandmothers and grandfathers” in its community to have a place to grow old while maintaining a high quality of life. Coming out of the pandemic, however, the church-owned facility is finding that its model, a model that stayed relatively the same for over the past 30 […]
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