Leaders with LTC Properties (NYSE: LTC) see opportunity in a fluctuating bank lending environment, with maturities coming due for operators at a brisk pace and interest rate increases causing a fair amount of anxiety among operators and some lenders. This environment favors real estate investment trusts (REITs) like LTC, which maintain a conservative investment strategy […]
Category: Finance
With nursing home operators having a couple months to process the minimum staffing proposal, many are taking a hard look at what would need to change to meet the proposal in its current form, and what revisions would make the most sense. Leaders with Trilogy Health Services, Avamere Living and Ignite Medical Resorts caution that […]
Nursing home industry stakeholders should try to shape the proposed federal minimum staffing policy to best fit with what providers can handle rather than railing against the rule completely. At least that’s what leaders of the Ensign Group (Nasdaq: ENSG) plan to do, CEO Barry Port said during the company’s third quarter earnings call on […]
More guidance is available on how to conduct mood interview changes, with the Centers for Medicare & Medicaid Services (CMS) updating the Resident Assessment Instrument (RAI) manual to reflect key changes in the new Minimum Data Set (MDS). Notably, if a resident refuses or is unwilling to participate in the interview, assessors need to go […]
WellSky, a health and community care technology company, announced the acquisition of Corridor, a tech-enabled services platform designed for the post-acute care industry. The acquisition was made from HealthEdge Investment Partners, a healthcare-focused private equity firm. WellSky is geared towards enhancing its medical coding and revenue cycle management (RCM) offerings. With Corridor’s addition, WellSky said […]
Only 6% of real estate investment trust (REIT) assets are in compliance with the federal minimum staffing proposal for nursing homes, compared to the industry average of 19%. This difference is due at least in part to less nonprofit representation in REITs, BMO Capital Markets analysts said in a note on Thursday. The BMO analysts […]
Hundreds of nursing homes in the nation’s second-most populous county are waiting to see if they will get a substantial property tax break, with the fate of the measure uncertain. As nursing home operators are facing rising costs in labor, interest rates and inflation, some states are looking to make facilities more financially viable for […]
The proposed federal staffing mandate for nursing homes is drawing more opposition on Capitol Hill. U.S. Senators Kevin Cramer (R-ND) and Angus King (I-Maine), both members of the Senate Veterans Affairs Committee (SVAC) sent an opposition letter on Oct. 19 to the Centers for Medicare and Medicaid Services (CMS), expressing concerns that the mandate may […]
The third quarter of 2023 marked the lowest quarterly spend on senior housing and care acquisitions in the last decade. That’s according to newly released data from LevinPro LTC, which showed 115 total deals for the quarter, of which 41% were skilled nursing transactions. SNF deals trailed only assisted living, which accounted for 49% of […]
States continue to take action on addressing wage disparities for nursing home staff even as the industry undergoes massive shifts marked by economic, operational and regulatory changes. Skilled nursing facility staff, as well as other health care workers in California, will slowly see their hourly wage increase to $25 over the next decade under a […]
The U.S. Department of Labor (DOL) failed to block a $56 million deal between Pennsylvania operator Comprehensive Healthcare Management Services and Kadima Healthcare Group for seven properties, according to court documents. The parties convened before the U.S. District Judge William Stickman IV in September when Acting Secretary of Labor Julie Su had asked for a […]
LECOM Health, the nation’s only osteopathic academic health center, announced its acquisition of another long-term care facility, bringing the total of senior living communities owned by the Pennsylvania-based health and education system to 10. The health system has been expanding its senior living and care arm, and provides primary care and consultative clinical services to […]
While financial pressures have created challenges and precipitated closures for smaller mom-and-pop nursing homes, the trend has also meant opportunities for those looking to acquire and add scale. Operators who have recently acquired mom-and-pop or small facilities say the most important consideration when expanding a portfolio with mom-and-pops is getting to know the culture of […]
About one year after being acquired by Dwyer Workforce Development (DWD) in a $590 million deal, Regency Integrated Health Services has rebranded as Wellsential Health and is moving forward under a “new nonprofit model,” the company announced Thursday. The 63 skilled nursing facilities under the Wellsential banner now represent the “largest family” of non-profit SNFs […]
Capital Funding Group (CFG) has successfully closed a significant financing deal, totaling $93.31 million, to support the refinancing of multiple healthcare facilities. This financing arrangement encompassed a $13.84-million mezzanine loan, complemented by $78.46 million in senior debt placement. The facilities spread across Washington, Idaho, and Oregon, collectively offer over 1,554 beds. CFG, a well-known financial […]
Comprehensive Healthcare may be forced to close unless the owners are allowed to sell seven nursing homes, according to a report on Wednesday from TribLive, the website of the Pittsburgh Tribune-Review. Comprehensive currently operates 15 facilities. The seven facilities involved in the sale have a combined 747 beds, according to the report. The U.S. Department […]
At least 5% of the nation’s nursing homes had private equity ownership in 2022, according to a new report issued by the Government Accountability Office (GAO), which also noted “limitations” in the federal government’s data on nursing home ownership. The congressional watchdog based its analysis on a review of the Centers for Medicaid & Medicare […]
More than 280,000 residents, or nearly a quarter of all residents, could be impacted by the staffing mandate – if nursing home operators have no choice but to reduce their census in order to meet hourly requirements. The proposed federal mandate would require an estimated 102,154 additional full-time employees. That’s 80,077 certified nursing assistants (CNAs) […]
With the minimum staffing mandate coming into effect soon, nursing home operators may be looking for creative ways to increase staffing and retain employees. Dr. Jasmine Travers, a gerontological nurse practitioner and assistant professor of nursing at New York University Rory Meyers College of Nursing, told Skilled Nursing News that a program that the Centers […]
Against the backdrop of economic and staffing challenges still facing the nursing home sector, operators are seeking business innovations that are community-centered and that expand their health care offerings through unique public-private partnerships and financial arrangements. The innovations include transition into a nonprofit model, creative ways to use state and federal dollars, and addition of […]
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