Former Rosewood Executive Indicted in Nursing Home Equity Skimming Case

An executive associated with a portfolio of nursing facilities that saw a record-setting federal loan default has been indicted on a single count of equity skimming, the Department of Justice announced late last week. Mark Yampol of St. Louis faces up to five years in prison if convicted, according to the DOJ. A federal grand […]

CMS Finalizes $750M Medicare Payment Boost for Nursing Homes in Fiscal 2021

The federal government on Friday finalized a previously proposed rule that will bring a 2.2% Medicare payment bump to the nation’s skilled nursing facilities. Under the Centers for Medicare & Medicaid Services’ (CMS) 2021 payment rule, facilities will see a total increase of $750 million in Medicare reimbursements over the next fiscal year, which begins […]

LTC Properties’ Skilled Nursing Occupancy Slips to 71%, But Rent Deferrals Minimal

Occupancy at LTC Properties’ (NYSE: LTC) skilled nursing facilities slid from 80% at the end of March to 71% by mid-July, but the impact on operators’ ability to pay rent without deferrals has so far been minimal, leaders at the real estate investment trust (REIT) disclosed Friday. Those occupancy figures represent voluntarily submitted data covering […]

Home Health Heavyweight Encompass Sees Potential to Replace Skilled Nursing with IRFs Post-COVID

Widespread outbreaks of COVID-19 at skilled nursing facilities have increased calls to accelerate the shift to in-home care whenever possible, but one major home health provider took things a step further by floating the potential for replacing SNF care with stays at inpatient rehabilitation facilities (IRFs). Speaking on the company’s second-quarter earnings call this week, […]

Matros: Federal Aid Keeps Nursing Homes Afloat for Now, but Industry Facing ‘One Long Wave’

As the major publicly traded players in post-acute and long-term care prepare to reveal another set of post-COVID results over the coming weeks, Sabra Health Care REIT (Nasdaq: SBRA) CEO Rick Matros remains confident that the government’s response to COVID-19 has averted severe financial strains for its tenants — at least for now. The Irvine, […]

Berkadia’s $50M Skilled Nursing Summer; Cushman & Wakefield’s Portfolio Deal

Berkadia this week announced the completion of about $50 million in financing for skilled nursing facilities in four separate deals across the country. First up, the real estate investment firm’s Seniors Housing & Healthcare Group provided a $22.2 million loan — backed by the Department of Housing and Urban Development (HUD) — for a 157-bed […]

Five Years in the Making, Thrive Sees Post-COVID Upside in Three New Skilled Nursing Facilities

Developing new post-acute and long-term care infrastructure during normal times isn’t always easy — in fact, for one Illinois company, the phased opening of three new skilled nursing facilities this year represented the culmination of more than five years of work. But as COVID-19 continues to reveal the fatal shortcomings of outdated nursing home design, […]

How a Nursing Home Developer Made Green Houses Work: ‘It’s Not Hard to Pencil Out’

COVID-19 has prompted the media and general public to consider the state of the standard nursing home more closely than ever, and many national outlets have turned to the Green House model as the prime example of the way forward. These “small-house” style developments eschew the traditional institutional nursing home structure for multiple cottages with […]

HHS Issues Details on Reporting Requirements for Provider Relief Funds

The Department of Health & Human Services (HHS) on Tuesday released details on the reporting requirements for companies that received federal money designated for health care providers grappling with the COVID-19 pandemic. The notice of reporting requirements details the timing of future reporting for recipients of distributions from the Provider Relief Fund (PRF), created by […]

Fitch Downgrades ProMedica, But Cites ManorCare Nursing Home Business as Bright Spot

Major hospital system ProMedica received another downgrade to its credit rating, but its HCR ManorCare nursing home arm remains a bright spot amid stresses elsewhere, according to Fitch Ratings. The ratings agency late Thursday announced a downgrade of the non-profit’s issuer default rating from BBB to BBB-, while also raising its outlook from negative to […]

Operators Greet Nursing Home COVID Testing Initiative with Cautious Optimism, Pointed Questions

One day after the federal government announced an ambitious plan to send point-of-care testing units for COVID-19 to all of the nation’s more than 15,000 nursing homes, leaders in the space expressed cautious optimism — while often emphasizing that they have more questions than firm answers. Starting next week, the Department of Health and Human […]

Longwood Management, Affiliates to Pay $16.7M in False Claims Act Settlement Over Rehab Services

Longwood Management Corporation, along with 27 individual affiliated skilled nursing facilities, will pay $16.7 million to settle federal allegations of rehabilitation billing fraud, the Department of Justice announced Monday. The government accused the Los Angeles-based firm of pressuring therapists to hit predetermined targets for rehab minutes under the Ultra High category, which provided the greatest […]

Walker & Dunlop’s $25M Deals; NHI’s $100M Term Loan

Walker & Dunlop last week announced the closure of $25 million in Department of Housing & Urban Development-backed financing for a skilled nursing and supportive living facility. The Bethesda, Md.-based real estate finance firm provided $10.7 million in financing for the 106-bed Landmark of Laurel Creek, a skilled nursing facility in Manchester, Ky. The property, […]