In just two years, Ford Motor Company’s (NYSE: F) medical transportation business has gone from an idea to a fleet of 60 vehicles serving clients in two states, and Detroit has its sights set on a wider presence in the post-acute and long-term health space in the years to come. Founded in March 2017 by […]
Amid the macro-level shift of care from institutions to the home, adult day providers are positioning themselves as an in-between option for caregivers and their families — as well as direct competitors to skilled nursing facilities. In the last six years alone, the number of adult day providers in the United States has doubled, according […]
Trillium Healthcare Group has announced the impending closure of three nursing homes in Nebraska, the Lincoln Journal Star reported this week. The three facilities — located in Crete, Fremont, and West Point, Neb. — will close sometime in August, after a 60-day window in which Trillium will assist residents with finding alternate accommodations. Around 140 […]
In an unusual outcome, the federal government’s top health care watchdog arm publicly cleared a nursing home it suspected of providing unnecessarily intensive therapy services. The Department of Health and Human Services (HHS) this week determined that the skilled nursing facility at an Oklahoma continuing care retirement community (CCRC) properly supported all its therapy minutes […]
The siphoning of residents from skilled nursing facilities into the home health space remains a troubling trend for institutional operators, and an executive at one of the nation’s largest health systems sees nothing but acceleration ahead. “There’s almost nothing that won’t eventually move to the home,” Scott Powder, chief strategy officer of Advocate Aurora Health, […]
Paramount Care Centers picked up a 169-bed portfolio in Philadelphia with the help of Chicago-based specialty investment bank Ziegler. The Newark, N.J.-based Paramount offers a variety of skilled nursing services — including orthopedic rehab, cardiac care, and respite care — with a footprint in New York, New Jersey, and Pennsylvania. Ziegler’s involvement as a capital […]
The skilled nursing mergers-and-acquisitions world is dominated by the gulf between haves and have nots, and a new survey from real estate giant CBRE shows that gap widening by at least one metric. Cap rates for the most desirable, Class A nursing facilities in core locations averaged 11.3%, according to CBRE’s Summer 2019 U.S. Seniors […]
Accountable care organizations (ACOs) have generated a slight reduction in overall Medicare spending, a new analysis found — adding another viewpoint to a growing and occasionally contradictory body of research. The Medicare Payment Advisory Commission (MedPAC) determined that ACOs led to a 1 to 2 percentage-point drop in Medicare outlays between 2013 and 2016, though […]
For the second time in less than a month, a national provider of dialysis services has teamed up with a major skilled nursing operator looking to expand its specialty capabilities — with an eye toward rolling out the program in a significant chunk of its buildings. Signature HealthCARE, which has 115 skilled nursing facilities spread […]
After blaming its acquisition of HCR ManorCare for a significant annual loss in 2018, non-profit health system ProMedica credited its new skilled nursing assets for helping to offset a rough first quarter for its insurance business. The Toledo, Ohio-based acute- and post-acute giant logged a net loss of $9.8 million in the first quarter of […]
Colony Capital, Inc. (NYSE: CLNY) on Thursday announced the successful refinance of a $1.73 billion consolidated loan on its health care portfolio, which includes skilled nursing facilities, senior housing properties, hospitals, and medical office buildings. The new interest-only loan totals $1.52 billion, with a five-year term and a blended interest rate of one-month LIBOR plus […]
After four years of declines, skilled nursing occupancy inched up year-over-year between the first quarters of 2018 and 2019, a major industry data tracker announced Wednesday. Nationwide occupancy at skilled nursing facilities ticked up 28 basis points to 83.7% in the first quarter of the year, according to the most recent data release from the […]
In the competitive world of short-term rehab, success depends on both who and what you know — and, by extension, how you tell your individual building’s story to the people whose opinions matter the most. The Medicare-focused building has been hailed as the future of skilled nursing and questioned as a difficult-to-achieve pipe dream, but […]
Though the leasing relationships between real estate investment trusts (REITs) and their skilled nursing tenants have come under scrutiny — and criticism — in recent months, it may be premature to declare their permanent demise. “There’ll be health care — broadly defined — REITs that’ll move in and out of the sector, upsize and downsize,” […]
A few weeks after a lender attempted to hold up the transfer of nursing homes formerly operated by Skyline Healthcare in South Dakota to a new permanent provider, a new report reveals that another party has jumped into the fray. Avera, a regional health system based in Sioux Falls, S.D., moved to stop a planned […]
The market will still need to determine whether the new Medicare reimbursement structure for nursing homes will be a net positive or negative for the industry, but at least one insider says buyers and sellers in the space aren’t optimistic enough. Current prices for skilled nursing facilities don’t typically account for the potential of cost […]
Berkadia closed a $21.7 million bridge-to-HUD loan for the acquisition of two skilled nursing facilities, one of which was located in Idaho. The interest-only loan carries a floating rate with an initial term of 18 months. The facilities, which opened between 2016 and 2017, have an almost 100% Medicare-eligible population and an average occupancy of […]
Nursing home operators in one of the toughest states for Medicaid reimbursements will receive a $240 million reprieve in the next fiscal year. Illinois lawmakers approved the funding boost as part of the state’s most recent budget, which Democratic Gov. J.B. Pritzker signed into law Wednesday; Capitol News Illinois initially reported the nursing home windfall […]
The skilled nursing industry has — with good reason — thrown much of its energy and focus onto the challenges of the Medicare reimbursement overhaul taking effect on October 1 of this year. But according to one prominent industry leader, the challenges of Medicaid pose a far greater threat to providers — particularly as the […]
The Ensign Group (Nasdaq: ENSG) closed in on 200 skilled nursing facilities with the acquisition of a combined SNF and senior living facility in Harlingen, Texas. Golden Palms Rehabilitation and Retirement features 60 skilled nursing beds, 38 assisted living beds, and 92 independent living units. The terms of the purchase, which closed June 1, were […]
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