The Tax Cuts and Jobs Act adds to the financial headwinds already rattling skilled nursing facilities by removing a key deduction without any kind of offsetting mechanism, American Health Care Association (AHCA) president and CEO Mark Parkinson argued in an op-ed published in Bloomberg Tax. Specifically, the tax law limits deductions on loan interest payments […]
Category: Finance
A pharmacy company that helped lead the charge to automate medicine dispensing collapsed at the end of last month, leaving some nursing homes with less than a month to find a replacement, the Indianapolis Business Journal reported on Friday. Wellfount Corp., based in Indianapolis, put “Redbox-style vending machines” in SNFs that dispensed medicines, with an […]
The leader of the federal government’s center for reimbursement innovation said he is considering bundled payment models where post-acute care providers could take the lead on care — but right now it’s only at the consideration stage. Adam Boehler, who leads the Center for Medicare and Medicaid Innovation (CMMI), said that there has been significant […]
Greystone on Wednesday announced the closing of a $58.8 million refinance loan for a skilled nursing facility in Southampton, N.Y. The 35-year loan was originated under the Department of Housing and Urban Development’s (HUD) 232 program, which allows investors and operators to refinance existing debt into non-recourse loans with lower fixed interest rates. The 280-bed […]
Though experts and federal authorities alike stress that the coming change to Medicare reimbursement shouldn’t affect the levels of rehabilitation provided to skilled nursing patients, the reality is that therapy is likely to evolve. That makes it all the more important for operator to clearly tie any changes in therapy provision to clinical needs and […]
The Yountville Veterans Home in Yountville, Calif., is looking to build a 240-bed skilled nursing facility to replace three state-licensed care facilities on campus, including two SNFs, the Napa Valley Register reported. The project could cost $300 million, depending on the design process, campus administrator Fred Just told the publication. But he said it would […]
The senior housing and health care team of Meridian Capital Group arranged for more than $500 million in financing for skilled nursing, independent living, and assisted living facilities with 17 transactions across 9 states in the first quarter of the year. The deals included $126 million in acquisition financing and equity for a 14-property SNF […]
Eight skilled nursing facilities in Wisconsin operated by Dycora Transitional Health and Living have been placed into receivership, with an affiliate of landlord Golden Living Centers taking back control after a two-year break. The Fresno, Calif.-based Dycora on Thursday became the latest entrant in a string of receivership actions in Wisconsin, with the Milwaukee County […]
The Ensign Group (Nasdaq: ENSG) acquired the real estate and operations of the 130-bed Phoenix Mountain Post Acute skilled nursing facility, effective April 1. The community had an average occupancy rate of about 80% at the time of the acquisition, according to Jim Guschl, president of Bandera Healthcare, Inc., Ensign’s Arizona-based subsidiary. “We have admired […]
Amid a major restructuring with one of its primary tenants, Senior Housing Properties Trust (NYSE: SNH) is looking to shed up to $900 million worth of its assets — with standalone skilled nursing facilities in the crosshairs. The Newton, Mass.-based real estate investment trust (REIT) earlier this week announced a overhaul of its longstanding relationship […]
CareTrust REIT (Nasdaq: CTRE) on Tuesday announced the successful completion of a $211 million deal that saw 12 properties change hands and two operators expand their portfolios in the South. The San Clemente, Calif.-based real estate investment trust (REIT) picked up seven skilled nursing facilities, along with an eighth SNF/assisted living campus, in Louisiana. Management […]
Despite industry headwinds, analyses have found that the nationwide supply of nursing home beds falls far below potential demand for the services — a trend that will only worsen as changing payment models knock some providers out of the business entirely. Writing in a commentary piece last week, Cain Brothers director Taaha Shaikh claimed that […]
One academic health system found that though the process can require considerable time and resources, establishing a preferred skilled nursing facility network could provide a leg up in improving care and in implementing value-based health strategies. Johns Hopkins Medicine (JHM), an integrated care system that includes five hospitals in Maryland and the District of Columbia, […]
]With the increased premium placed on preventing rehospitalizations from skilled nursing facilities, timely interventions from a doctor can potentially make a major difference. Between 2012 and 2014, about 10.4% of residents did not see a physician at all during their time in the skilled nursing facility, according to a study published Monday in the journal […]
Long-term care deals dominated the health care mergers-and-acquisitions landscape in February, clocking in at 32 transactions, according to a Friday report from Bloomberg Law’s transactions advisory board. That number is double the next-closest sector, health care information technology and software, which racked up 16 deals for the month, according to the list compiled for Bloomberg […]
A federal bankruptcy court this week approved a settlement agreement between Sabra Health Care REIT (Nasdaq: SBRA) and embattled tenant Senior Care Centers, the real estate investment trust (REIT) announced Friday. Under the terms of the deal, the Irvine, Calif.-based Sabra will receive $9.5 million from the bankrupt operator. Of that amount, Senior Care Centers […]
Major real estate investment trusts (REITs) with stakes in the skilled nursing world almost universally expressed optimism about the coming change in Medicare Part A reimbursement — and several predicted changes in mergers and acquisitions as a result. But the expected wave of small mom-and-pops exiting the skilled nursing industry because the Patient-Driven Payment Model […]
Southern Health Corporation of Ellijay, Inc., a subsidiary of SunLink Health Systems (NYSE American: SSY), sold its Parkside Ellijay Nursing Home and related real estate for about $7.3 million. The net proceeds, about $6.4 million, will be retained for working capital and general corporate purposes. SunLink expects to recognize a pre-tax gain of about $2.1 […]
The Evangelical Lutheran Good Samaritan Society has sold a pair of skilled nursing facilities to for-profit industry leader The Ensign Group (Nasdaq: ENSG), Skilled Nursing News has learned, marking the latest in a series of recent dispositions by the non-profit provider. The two properties in Mesa and Peoria, Ariz., branded as Good Shepherd, will be […]
Pressured by already light coffers and razor-thin margins, skilled nursing facilities could see an even wider gulf grow between top and bottom performers under the new Medicare payment model. That’s at least according to Cain Brothers director Taaha Shaikh, who this week wrote a commentary calling the coming Patient-Driven Payment Model (PDPM) “the next great […]
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