Data continues to be the watchword in a skilled nursing marketplace where hospitals and other referral partners demand increasingly concrete information about post-acute outcomes. In response, numerous tech companies have stepped into the fray to provide potential solutions — from data analytics tools that can identify serious health issues before they escalate to a hospitalization, […]
Walker & Dunlop (NYSE: WD) on Friday announced that it had provided a $12.8 million bridge loan for the acquisition of The Grove Fox Valley, a 156-bed skilled nursing facility in the Chicago suburb of Aurora, Ill. The Bethesda, Md.-based real estate finance company originated the loan for Cascade Capital Group of Skokie, Ill., which […]
The inpatient rehabilitation facility (IRF) represents the fastest-growing asset class within the post-acute care spectrum, according to a new report from real estate services firm Colliers International — thus making it a prime target for investors in the overall real estate space. “Freestanding IRFs tend to have a healthy operating margin, and help expedite the […]
Because of delays by the Illinois government in processing Medicaid coverage applications, the non-profit operator of a skilled nursing facility that closed a year ago is now declaring bankruptcy. The State Journal-Register reported the news August 16th. The state of Illinois made headlines last year for a multi-million Medicaid eligibility backlog, and it already had […]
Skilled nursing operators frequently bemoan the shorter lengths of stay and lower daily payment rates for Medicare Advantage residents, but the leader of one plan says it’s also up to providers to present novel ideas to insurance executives. Before taking the CEO role at the nursing-home focused Longevity Health Plan earlier this year, René Lerer […]
When LTC Properties (NYSE: LTC) announced a $38 million deal to buy a pair of high-end transitional rehab facilities in Missouri, it marked the end of a multi-year planning process that saw a skilled nursing developer try to plug holes in the area’s health care system. The transaction covered a completed skilled nursing facility in […]
The Evangelical Lutheran Good Samaritan Society continues to strategically trim its post-acute portfolio, selling off a trio of skilled nursing campuses along the Illinois-Iowa border. The three properties had a total of 214 skilled nursing beds and 65 independent and senior living apartments, according to Blueprint Healthcare Real Estate Advisors — which brokered the deal […]
An administrative law judge approved a nearly $1 million penalty against the owner of an Illinois nursing home chain responsible for the worst default in the history of the Department of Housing and Urban Development’s loan program for health care facilities, the New York Times reported on Friday. Under the terms of the deal, Zvi […]
With the new Medicare overhaul set to take effect on October 1 and the recent finalization of a Medicare rate boost for fiscal 2020, leaders at Invesque Inc. (TSX: IVQ.U) were upbeat about the future of its skilled nursing facilities in its second-quarter earnings call Thursday. In its earnings release, Invesque highlighted the formation of […]
The new Medicare payment model for skilled nursing facilities has consumed most of the oxygen around the industry over the past year-plus, with operators, vendors, and consultants working in tandem to adjust to the new math. But according to one leader, all of that attention on the Patient-Driven Payment Model may not be focused on […]
Summit Healthcare REIT on Thursday announced the promotion of two top executives to new posts. President Kent Eikanas will now serve as CEO of the Lake Forest, Calif.-based real estate investment trust (REIT), which has holdings in both skilled nursing facilities and senior housing. Eikanas had held the title of president since September 2012, and […]
Accurately diagnosing and treating depression could bring significant rewards for operators under the new Medicare payment model for nursing homes — both financially and clinically. Training frontline caregivers to notice the signs of depression among residents of skilled nursing facilities will be vital to success under the coming Patient-Driven Payment Model (PDPM), according to Zimmet […]
A new model for reducing unnecessary transfers from skilled nursing facilities to hospital emergency departments (ED) drastically cut hospitalizations and ED use — albeit with a very small sample size. Three SNFs made use of the Reducing Avoidable Facility Transfers (RAFT) model from January 1, 2016 and June 30, 2017, as detailed in a study […]
White Oak Healthcare Finance secured an $81 million credit facility for 14 skilled nursing facilities owned by GMF Capital, White Oak announced last week. The transaction included a $66 million senior credit facility to refinance the properties, located in Ohio and Kentucky, along with a $15 million line of credit for the operating company. GMF […]
When Mission Healthcare Communities took over 15 distressed skilled nursing facilities in the state of Kansas last year, it leaders didn’t consider turnaround projects as a specific focus of its business. At the time, the Tampa, Fla.-based Mission had one goal for the properties: to stabilize them and get them ready for new ownership. The […]
LTC Properties (NYSE: LTC) on Friday announced a $38 million pair of transactions that will see the real estate investment trust (REIT) strike up a new relationship with transitional-care operator Ignite Medical Resorts. The two separate agreements consist of a $19.5 million deal to purchase a recently constructed 90-bed skilled nursing facility in the Kansas […]
Genesis HealthCare (NYSE: GEN) reported improvement in its 2019 second-quarter financial results, and CEO George Hager is optimistic about the second half of the year — in part because of the skilled nursing operator’s participation in the Medicare Shared Savings Program (MSSP) as an accountable care organization (ACO). The skilled nursing giant, which operates about […]
Sabra Health Care REIT (Nasdaq: SBRA) on Thursday announced its impending entrance into the growing addiction treatment and behavioral health marketplace, with a specific eye toward potentially repurposing skilled nursing facilities for the task. “There aren’t very many other uses for skilled nursing facilities,” Sabra CEO Rick Matros said on his company’s second-quarter 2019 earnings […]
When the Dallas-based skilled nursing operator Senior Care Centers filed for Chapter 11 bankruptcy protection last December, management placed the blame firmly on its leases with its real estate investment trust (REIT) and other landlords, specifically calling them “expensive.” But Wendy Simpson, president and CEO of SCC landlord LTC Properties, Inc. (NYSE: LTC), says the […]
CareTrust REIT (Nasdaq: CTRE) emphasized the importance of local knowledge for skilled nursing operators in its second-quarter earnings call held on Wednesday, both in the case of a planned operator switch in Ohio and in the skilled nursing market more broadly. Specifically, the San Clemente, Calif.-based real estate investment trust (REIT) is looking to sell […]
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