Respiratory service vendors have seen a boom in business due to the pandemic, with respiratory therapists sometimes filling in when COVID unit staff on a nursing home campus became scarce. RTs became indispensable when facilities were experiencing a surge in COVID-19 cases, and continue to be needed to treat virus “long-haulers,” administering high-flow oxygen without […]
Category: Finance
Members of the U.S. House of Representatives this week introduced bipartisan legislation to strengthen Medicare’s value-based care models and accountable care organizations (ACOs), among other alternative payment models (APMs). Doctors, hospitals and other providers make up an ACO — the group coordinates care for Medicare patients while limiting extraneous services and preventing medical errors. The […]
During the course of its 19-facility expansion — in the middle of a pandemic — Texas operator Creative Solutions in Healthcare avoided hiring additional accounts receivable personnel by utilizing a health care payment automation platform. Fort Worth, Texas-based vendor CoreCare supplies reimbursement automation technology to make this feat possible, while the SNF industry faces a […]
Greystone announced that it provided a $36,464,000 loan insured by the Department of Housing and Urban Development (HUD) for the financing of three skilled nursing facilities (SNFs) in North Carolina. The properties are located in Durham, Rutherfordton, and Pinehurst. Fred Levine originated the loans for New York City-based Greystone. The Durham location, Carver Living Center, […]
Providers are scrambling to make sure they are filing Provider Relief Fund (PRF) reports correctly and have all relevant data to avoid auditing woes or rejected reports. Consultants and skilled nursing advocacy groups have stepped up to provide guidance on how to submit reports to the newly opened PRF portal — the Health Resources and […]
With five skilled nursing properties acquired this month and two more due to come on board in August, Indiana operator Majestic Care is definitively in growth mode. The operator continues to look for different opportunities to serve its core Midwest market while expanding to other geographic areas, Majestic CEO Bernie McGuinness said, including expansion into […]
As the road to recovery continues for the senior housing and care industry, a new survey from real estate giant CBRE, released this month, indicates significant investment growth in the short-term with a full recovery expected sometime in 2022. With the skilled nursing mergers-and-acquisitions market hotter than ever right now, summer cap rates for these […]
The federal government has again proposed reductions to Medicare reimbursement for various Part B therapy services as part of its 2022 Medicare Physician Fee Schedule Proposed Rule. And while the suggested roughly 2% in cuts are measurably lower than reductions floated this time last year, Cynthia Morton, the executive vice president for the National Association […]
From increased facility access points and HVAC innovation to rethinking communal and private spaces, nursing homes built in the wake of COVID-19 are expected to come with a different look and feel, with more space to spread out, compared to more traditional facilities. Charleston, W.Va-based Stonerise has 17 transitional and skilled nursing care centers throughout […]
LTC Properties says they’re not seeing many investment opportunities in the skilled nursing space currently, but their approach hasn’t changed — they remain committed to the space. Pricing has been surprisingly robust compared to other senior sectors such as private-pay senior living due to financial support provided by the CARES Act Provider Relief Fund. Total […]
The American Health Care Association and National Center for Assisted Living (AHCA/NCAL) are making another push for the federal government to release the remainder of the Provider Relief Fund (PRF) established by the CARES Act. This comes at the heels of the organization’s most recent survey, which revealed that only a quarter of nursing homes […]
Chicago-based specialty investment bank Ziegler last week announced it closed on $115,630,000 Series 2021A and Series 2021B Bonds for a 24.3-acre continuing care community within Sawgrass, a 4,800-acre private resort and residential community in Florida. Based 20 miles southeast of Jacksonville, Fla., in Ponte Vedra Beach, the community, Vicar’s Landing, includes 227 independent living units, […]
With the market for nursing homes showing no sign of slowing, an investment firm is looking to expand in the skilled nursing sector with a new team headed by Jason Dopoulos. As managing principal of White Oak Healthcare Partners, a subset of White Oak Healthcare Finance, which is a subsidiary of White Oak Global Advisors […]
While the skilled nursing sector will continue to experience occupancy recovery well beyond this year, the average sale price of facilities per bed has been the highest since 2016. Nursing care assets have traded with an average sale price of $90,700 per bed, according to an outlook report released by Calabasas, Calif.-based real estate brokerage […]
Operator investment in talent, company culture and technology, along with a close eye on local markets, are key to survival at this stage of the pandemic. That’s with skilled nursing care becoming an increasingly localized, segmented industry, according to Bill Kauffman, senior principal with the National Investment Center for Seniors Housing & Care (NIC). Kauffman […]
With the Provider Relief Fund (PRF) portal opened as of July 1, the Health Resources and Services Administration (HRSA) issued guidance updates from those initially released June 11, aimed at those looking to submit their reports. Webinars on updated reporting requirements start today with HRSA at 3 p.m. ET and continue in several weeks with […]
Despite low occupancy rates and uncertainty around federal funding, experts say the market for nursing homes has not slowed, as buyers want to get in on the frenzy and are willing to pay near stabilized rates to do so. Some, like Symphony Care Network, with a portfolio that totals more than 30 properties throughout Illinois, […]
Summit Healthcare REIT acquired three skilled nursing facilities in San Bernardino County, Calif. for more than $20 million, the real estate investment trust announced Wednesday. The facilities, which include 191 licensed beds, will be leased to Rockwell Healthcare LLC on a triple net lease basis, the announcement stated. “This has been a dream of ours […]
DispatchHealth, an in-home medical care company that started in 2013 and is now in 18 states and 33 markets across the country, wants to grow its skilled nursing-at-home model coming out of COVID. Since its inception, DispatchHealth has seen in excess of 300,000 patients in the home setting, saving more than $350 million in the […]
Nursing home occupancy has increased for the third month in a row, according to a new analysis from the data service affiliated with the National Investment Center for Seniors Housing & Care (NIC). From March to April, the NICMAP Vision report recorded a jump of 94 basis points to end at 73.2% for April; that’s […]
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