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 […]
Category: Finance
New York City-based health care lender and asset manager MONTICELLOAM, LLC announced that it provided a $70 million, five-year loan to refinance a seven skilled nursing facility portfolio. That portfolio consists of 953 beds throughout Arkansas. The sponsors of the transaction have a total portfolio of approximately 1,200 beds in Arkansas and have a proven […]
Although the Centers for Medicare & Medicaid Services (CMS) has backed off high-dollar civil monetary penalties (CMPs) in recent years, a trend that was heavily criticized by the AARP Foundation earlier this year, new research indicates that CMPs are picking back up. Fines collected through per-incident penalties increased more than eight-fold from 2016 to 2020 […]
Skilled nursing facilities need a boost in Medicaid reimbursement rates to pay for increased caregiver compensation, as well as an overhaul of the current payer structure, according to a six-strategy vision report from the senior care advocacy group LeadingAge. LeadingAge released the report, “Feeling Valued Because They are Valued,” on Thursday, a timely push as […]
Home health and hospice provider Amedisys Inc. (Nasdaq: AMED) late Wednesday announced plans to acquire SNF-at-home company Contessa Health for $250 million. The Baton Rouge, La. company said it intends to grow Contessa’s logistics platform CareConvergence, in addition to owning its hospital-at-home and home-based skilled nursing services. Amedisys’s total addressable market (TAM) for in-home care […]
The California Department of General Services (DGS) has begun preconstruction on an ambitious $269-million skilled nursing and memory care center in Napa Valley, a project eight years in the making. DGS’s client, the California Department of Veterans Affairs (CalVet), plans to combine the new 240-bed SNF with three existing facilities on the 615-acre campus. This […]
The overall market for health services assets shows no signs of slowing, as investors continue to aggressively seek deals. The long-term care dealmaking landscape, in particular, remains robust, though transaction volume is down slightly compared to recent stretches. “We expect deal activity to remain strong, building on the resurgence that began in June 2020,” John […]
A unique combination of investor interest, public attention and a floundering workforce offers the skilled nursing industry a unique chance to reinvent itself. Owners and operators of nursing homes need to be working with industry partners to drive not just anyone to the SNF workforce, but individuals with a drive and talent to recast the […]
With more than half of nursing homes currently operating at a loss, only a quarter are confident that they can last a year or more. That’s according to a survey of 616 skilled nursing facilities conducted by the American Health Care Association and National Center for Assisted Living (AHCA/NCAL). The organization posted its findings on […]
National Healthcare Corp. looks to further diversify its service lines within the care continuum, this month acquiring outstanding stakes in hospice and palliative care system Caris Healthcare for $38.95 million. NHC deals primarily in skilled nursing facilities, with its affiliates operating 75 SNFs, followed by 35 home health agencies, 28 hospice agencies, 24 assisted living […]
An increasing number of skilled nursing facilities have had to depend on staffing agencies, and find other alternative ways to fill shifts, during the height of the pandemic and into this year. Operators have historically tried to use agencies as a last resort because of additional fees associated with the service; residents need to see […]
Griffin-American Healthcare REIT III (GAHR III) and Griffin-American Healthcare REIT IV (GAHR IV) on Thursday announced a merger agreement — as well as the acquisition of American Healthcare Investors — to become American Healthcare REIT, Inc. In a $1.125 billion joint venture transaction that closed in 2015, GAHR III acquired a majority stake in Louisville, […]
The nursing home industry has been through the wringer over the past 24 months, first with the implementation of a new Medicare payment model, the Patient-Driven Payment Model (PDPM), and then the COVID-19 pandemic. Coming out of the pandemic, operators across the country need to start thinking about their future in the post-acute care continuum. […]
While all senior housing properties experienced an increase in vacancy rates across the country, skilled nursing facilities saw higher levels than other sectors in the first quarter of the year, according to a report released by Moody’s Analytics REIS. That was despite the introduction of Covid-19 vaccines — the trend means that questions still exist […]
Institutional Property Advisors announced it closed on a deal for a skilled nursing portfolio in Iowa last month. The portfolio, Pearl Valley Rehab & Healthcare, includes ten assets in the state for a total of 568 beds, sold for $24.2 million, for $42,606/a bed. The seller, a private owner-operated out of the East Coast, decided […]
In a wide-ranging conversation about value-based care, skilled nursing industry leaders said operators and owners need to be more willing to take on risk to benefit from such models. Integrated Care Solutions CEO Brian Fuller and Eric Tanner, chief executive of SNF operator OnPointe, said during a fireside chat at the Synergy Summit that providers […]
Omega Healthcare Investors (NYSE: OHI) may provide summertime rent relief to one of its skilled nursing tenants, as the delay in federal financial relief is causing strains on operators. The Florida-based operator told the Maryland-based real estate investment trust (REIT) that it would need help with its June rent, roughly $2.5 million, according to a […]
Skilled nursing facility operators and others in the senior care industry with diversified service lines are in a better position to care for residents at this point in the pandemic — and in the future. Operators with a diverse payer mix also have an edge, long-term care experts told Skilled Nursing News. Broadly, operators have […]
Chicago-based specialty investment bank Ziegler last week announced it closed on $44,415,000 Series 2021 Bonds for a 47-acre CARF Accredited not-for-profit continuing care retirement community in Durham, North Carolina. Based just south of Duke University in Durham, North Carolina, The Forest at Duke opened in 1992 and serves as a Type B life care community […]
Skilled nursing facilities continue to be plagued by insurance issues more than a year into the pandemic, with more and more carriers pulling out of the sector or attaching COVID-related exclusions to policies. Chicago-based risk management, insurance brokerage and advisory firm Willis Towers Watson in a November report said the COVID impact exacerbated existing problems […]
Subscribe
Receive industry updates and breaking news from SNN.