Even as operating pressures and staffing shortages persisted at nursing homes, long-term care corporate executives with multi-facility organizations were paid 3.69% more in 2023 compared to the previous year. This represents an increase from the 3.17% salary jump reported in 2022. And, there’s a planned increase of 3.45% on average expected from 2023 to 2024 […]
Category: Finance
Pricing for nursing home care continued to grow the fastest in the first month of 2024 compared to other major health care categories, jumping by 4.9% in January, as wages grew but job growth lagged. That’s according to Altarum’s Health Sector Economic Indicators (HSEI) Briefs published on Tuesday. Nursing home care was among service prices […]
Petersen Health Care, which runs around 100 nursing homes and assisted living facilities across the Midwest, is preparing to file for Chapter 11 bankruptcy in the coming weeks, according to Bloomberg News. “Talks are not final and plans could change,” the Bloomberg report stated, citing unnamed sources with knowledge of the matter who asked not […]
Market conditions are currently favoring REITs – and leaders with LTC Properties (NYSE: LTC) are feeling “very bullish” on their investment outlook for the year. LTC executives expressed optimism about the sector’s growth prospects, citing strong market fundamentals and increasing demand for senior housing. Specifically, they see a looming wall of debt maturities coming in […]
Ventas Inc. (NYSE:VTR) sold some of its skilled nursing assets at “favorable” prices in the last quarter of 2023, and is planning more, executives for the Chicago-based real estate investment trust (REIT) said Thursday. “We’ll continue to pick our spots and be opportunistic … on disposing off certain of the Santerre assets over time, including […]
Sanford Health announced plans Tuesday to break ground on a $200 million project for a continuing care retirement community (CCRC) in South Dakota through its subsidiary, the Evangelical Lutheran Good Samaritan Society. The Good Samaritan Society executives told Skilled Nursing News that the funding for the project is an outcome of a strategy to expand […]
Investors appear to be less interested in the skilled nursing space, while other post-acute care settings like assisted living and independent living are increasingly sought after. Investors looking for SNF deals dropped drastically year-over-year in the last quarter of 2023, according to a seniors housing and care survey released by commercial real estate and investment […]
In the midst of lagging Medicaid reimbursements, more nursing providers are pushing states to launch quality incentive programs that are designed to enhance care and reward high-performing long-term care providers. Twenty-four states already have them in place, and the latest to join this trend is Pennsylvania. And to that end, nursing home providers in Pennsylvania […]
In Center Point and Jonesville, Louisiana, two properties comprising 244 licensed skilled nursing beds, operated by CommCare, have been successfully sold to Omega Healthcare REIT and their operator, Venza Care. According to Blueprint, who facilitated the sales, the facilities have stable performance levels, and experienced a significant financial boost following Louisiana’s Medicaid rate adjustment effective […]
Rural and small market areas continue to experience growing “nursing home deserts,” an increasing crisis for local officials and beneficiaries facing access issues. In Nebraska, for one, state data shows 29 facilities closed their doors in the past three years, leaving pockets of “nursing home deserts” across 20 counties, according to a report from KETV […]
As Omega Healthcare Investors Inc. (NYSE: OHI) advanced on its restructuring efforts at 2023’s end, company executives said that they were finally able to have a better grasp on their outlook for 2024. And, while the company’s current fundamentals were looking strong, the looming federal staffing mandate might obscure the path forward for the sector […]
American Healthcare REIT fell short of its targeted initial public offering (IPO) amount, raising $672 million. The Irvine, California-based real estate investment trust was aiming to raise up to $840 million. Shares were sold at the bottom of a marketed range, adding to a run of modest performances as more companies moved ahead with new […]
CMS isn’t expected to finalize the minimum staffing proposal until the summer at the earliest, with the agency having to wade through more than 40,000 comments before moving forward with the rule. The voices of skilled nursing providers, along with coalition partners like the American Hospital Association, will hopefully have been heard by CMS and […]
Presbyterian Homes & Services’ president and CEO Dan Lindh has announced his retirement after a career of almost five decades with the organization. The PHS board of directors has launched a national search for the next CEO. The faith-based provider of senior housing, care and services anticipates that the leadership transition with Lindh will be […]
An Illinois-based nursing home operator, which owns nearly 100 senior living properties across the state as well as others in Missouri and Iowa, faces legal challenges as prosecutors point to alleged unpaid loans. Petersen Health Care faces two foreclosure cases filed in the Illinois Northern District Court – litigation is linked to an alleged failure […]
Acquisitions and localized growth, along with the looming federal minimum staffing proposal and legal settlements were top of mind for executives of the Ensign Group (Nasdaq: ENSG) as the California-based organization closed out the year. Managed care revenue and census increased during the quarter by 12.3% and 3.5% respectively, compared to the prior year’s quarter, […]
The nursing home industry led the health care sector in wage growth while prices for skilled nursing services grew at the fastest pace at the end of 2023. Meanwhile, employment growth slowed to a crawl in December despite a desperate need to bolster the nursing home workforce. This is according to Altarum’s Health Sector Economic […]
Bottlenecks at hospitals have mounted over the last year with long wait times for patient transfers to nursing homes – recent facility closures in the sector not helping the situation. These persistent delays in discharges from emergency departments and inpatient care resulted in unnecessary hospital-level care and deep financial losses for hospitals because these delayed […]
As Medicare Advantage becomes an increasingly important – and controversial – payer for skilled nursing services, operators should note a major shift has occurred in the insurance landscape. Cigna Group (NYSE: CI) agreed Wednesday to sell its Medicare businesses and CareAllies to Health Care Service Corporation (HCSC). HCSC said it intends to acquire the Cigna […]
The landscape of healthcare financing, especially for skilled nursing facilities, has been undergoing significant shifts in recent times, but the growth outlook has improved and approval of government-backed loans is expected to rise in the coming months. The Department of Housing and Urban Development’s (HUD) lending in the skilled nursing space for less risky loans […]
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