With vaccines administered to seniors at high rates, LTC Properties, Inc. (NYSE: LTC) is optimistic that new residents will be coming back to skilled nursing facilities and senior living properties — and though it’s not clear how quickly census will recover, CEO and chairman Wendy Simpson is encouraged by the “anecdotal evidence” from the real […]
Category: Finance
Skilled nursing giant The Ensign Group (Nasdaq: ENSG) continues to be immune from COVID-era pressures, posting another quarter of record earnings and plotting out post-pandemic growth — with an eye toward taking a page from its spinoff of its non-SNF business lines. The San Juan Capistrano, Calif.-based Ensign has engaged with advisors to potentially capitalize […]
Citing research showing lapses in staffing and care quality, a think tank on Friday released a report calling on Congress to ban all private equity investment in nursing homes. The Roosevelt Institute specifically asked lawmakers to subject all nursing home transactions to Securities and Exchange Commission (SEC) approval in order to weed out “private equity […]
Welltower Inc. (NYSE: WELL) on Thursday again touted the benefits of a blockbuster move to largely end its relationship with troubled nursing home giant Genesis HealthCare, hinting at an even greater return for the real estate investment trust (REIT) than previously disclosed. Welltower CEO Shankh Mitra pointed to the $144,000-per-bed price tag on the transaction, […]
It could be the next major trend in long-term and post-acute care, with benefits for both residents and operators: downsizing bed counts to better match demand and provide higher quality care. Masonicare, a non-profit health system based in Connecticut, became the latest operator to make headlines with a plan to relinquish beds at its skilled […]
Greystone provided a $24.9 million loan insured by the Department of Housing and Urban Development (HUD) for the refinancing of the 120-bed skilled nursing facility Adira at Riverside, in Yonkers, N.Y. The financing was originated for L&A RE Acquisition, LLC, by Greystone managing director Fred Levine, with Shia Fishman of Capital Stack Advisors acting as […]
Even before the pandemic, executives at onehome saw opportunity in developing a robust rehab program that could provide a skilled nursing facility level of care at home. The Miramar, Fla.-based home health provider and convener partners primarily with managed Medicare insurers, with limited traditional fee-for-service Medicare or Medicaid business lines; instead, onehome opts for risk-sharing […]
In times past, the advice for improving census at skilled nursing facilities could generally be distilled to a data strategy. That data might range from statistics on difficult-to-place hospital patients to hard numbers around key outcomes such as readmissions to the acute setting. But always the watchword was “data,” even if it wasn’t always clear […]
Even before the pandemic, American Health Partners saw growth potential by expanding beyond a core of skilled nursing facilities. The Franklin, Tenn.-based firm operates 29 SNFs through its American Health Care arm, but it also provides a wide range of other services, from home health and hospice to psychiatric care to a nurse practitioner organization. […]
Abri Health Care, the company that emerged from the bankruptcy of skilled nursing operator Senior Care Centers, itself filed for Chapter 11 bankruptcy protection on April 16, according to landlord LTC Properties (NYSE: LTC) and court filings. Senior Care Centers LLC, now an Abri subsidiary, is owned 100% by Abri Health Services, LLC, which in […]
Prior to the pandemic, any discussion of investment in skilled nursing facilities usually came with a mention of the “stroke of the pen” risk — the concern that any action by the government around reimbursement could have a substantial impact on the value of properties, given that the majority of revenue in the sector comes […]
Even as the nationwide vaccine rollout eases the clinical crisis in U.S. nursing homes, operators across the senior living spectrum are reporting the highest levels of agency staffing use and overtime pay since the pandemic began — indicating that the longstanding workforce crunch in the sector only has only continued to worsen. That’s according to […]
Cambridge Realty Capital Companies provided a $12 million loan, backed by the Department of Housing and Urban Development (HUD), to refiance the Alden Alma Nelson Manor skilled nursing facility in Rockford, Ill. The Chicago-based Cambridge originated the loan through HUD’s 232 program, which provides long-term financing for SNFs and other residential care facilities; the fully […]
The federal government has made it clear that it wants to adjust how nursing homes receive Medicare reimbursement due to an estimated 5% increase in fiscal 2020 — a gain that runs counter to the goal of keeping Medicare spending level from year to year. Specifically, the Centers for Medicare & Medicaid Services (CMS) determined […]
Skilled nursing facilities and other health care providers will receive 2% more in Medicare reimbursements through the end of 2021 after President Biden signed a long-awaited sequestration moratorium bill into law Wednesday. Congress in late March 2020 suspended the 2% sequestration cut as the coronavirus crisis began to gain steam, and late last year bumped […]
American Health Partners, which operates 29 skilled nursing and senior living facilities among other post-acute ventures, on Wednesday announced its acquisition by the Mitchell Family Office (MFO). The Birmingham, Mich.-based MFO explicitly pointed to the diversity of American Health Partners’ holdings as a reason behind inking the deal. In addition to its brick-and-mortar senior health […]
PDPM Adjustments, Smaller Medicare Raise Show CMS ‘Ready to Pull Back’ on COVID Aid to Nursing Homes
As the federal government’s approach toward nursing homes and COVID-19 continues to shift from emergency support to reflection and reform, analysts are increasingly warning that the coronavirus-era gravy train could soon come to an abrupt stop. In particular, the past week has brought three pieces of news that may signal trouble ahead for operators and […]
The federal government is mulling several options to recalibrate the Medicare payment structure for skilled nursing facilities as it seeks to achieve its intended goal of budget neutrality — with the aim of shutting off excess payments sooner rather than later. The Centers for Medicare & Medicaid Services (CMS) this week determined that the Patient-Driven […]
Five Star Senior Living (NYSE: FVE) on Friday announced that it will exit the skilled nursing business as part of a wider plan to trim its footprint and shift its focus toward independent living and active adult properties. The Newton, Mass.-based Five Star will close or transition the skilled nursing units at all of its […]
Starting in January 2022, nursing home operators in New York will be required to return all profits in excess of 5% to the state — while also spending set percentages of revenue on specific care categories — under a new budget deal reached this week. “Now, more than ever, it is important that nursing homes […]
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