Avoiding Million-Dollar Medicaid Eligibility Mistakes in Nursing Facilities

Skilled nursing operators can’t control day-to-day Medicaid rates in their states, but they do have a broad toolbox that can help them avoid eligibility errors and oversights that can cause millions in losses. In an era of constricted Medicaid reimbursements, frontline staff can still play a crucial role in maximizing dollars, sb2 Inc. CEO and […]

HHC Finance Looks to Build on $1B Year of SNF Lending Despite Shutdown Backlog

Housing & Healthcare Finance rode strong demand for bridge financing to a record-setting 2018 for its skilled nursing and assisted living lending practice, and while the government shutdown may lead to a 2019 slowdown, the company’s chief investment officer still sees strong demand ahead. The North Bethesda, Md.-based HHC Finance clocked more than $1 billion […]

$10.5M for New Rehab Construction in Arizona; Nebraska SNF Survives Receivership

The Washington, D.C.-based Love Funding secured a $10.5 million loan for the development of a new 41-bed transitional rehab facility in Yuma, Ariz. The planned 32,000-square-foot facility will include high-end amenities, with 41 private suites targeted exclusively at Medicare and managed care residents. Love Funding, a subsidiary of Midland States Bank, originated the loan through […]

Greystone Courts Investors in India for New Skilled Nursing Development in FL

Investment in skilled nursing facilities has remained steady despite industry pressures, and one leading operational and investment firm has begun to look abroad for cash as it looks to expand. Greystone & Co., Inc. is pitching potential investors in India on a 180-bed skilled nursing development in the Orlando area under the federal government’s EB-5 […]

Hager: Shift from SNFs to Home Has Run Course, Therapy Costs to Drop 10% to 15% Under PDPM

Large-scale efforts to shift post-acute residents from skilled nursing facilities to the home health space have largely “run their course,” Genesis HealthCare (NYSE: GEN) CEO George Hager said Tuesday, while also predicting serious cost savings under the new Medicare payment model. Though industry leaders have long worried about payers’ growing preference for the lower-cost home […]

Invesque CEO White on Why It’s ‘Dangerous’ to Worry About Year-to-Year Changes in SNF Space

As real estate investment firm Invesque Inc. (TSX: IVQ.U) continues its diversification plan after a 2016 separation from skilled nursing operator Mainstreet, its CEO insists that the future for the SNF space remains bright. In fact, Scott White’s Invesque — known as Mainstreet Health Investments until late 2017 — continues to own buildings developed by […]

Nurses May Need to Shoulder Documentation Burdens Under PDPM

Once the new Medicare payment model takes effect, frontline nurses may prove vital to securing the proper reimbursements for skilled nursing services. The Patient-Driven Payment Model (PDPM) will place increasing pressure on nursing facilities to justify each resident’s need for Medicare-reimbursed skilled care, Zimmet Healthcare Services Group president Marc Zimmet said during a recent industry […]

North Shore CEO: Amid SNF Changes, Regional Operators Poised for Future Success

North Shore Healthcare’s recent acquisition of a 72-bed skilled nursing facility in Ashland, Wis., presented an opportunity for the provider to expand its existing services in the town — and fit with the company’s ethos of growth. Specifically, the Glendale, Wis.-based operator isn’t looking to grow “for growth’s sake,” but it will look for opportunities […]

SLIB Closes $12M, Two-SNF Deal; Elderwood Acquires Vermont Nursing Home

Senior Living Investment Brokerage facilitated the $12.1 million sale of two SNFs, one in Tennessee and one in Kentucky. The buyer was a real estate investment firm in the Northeast making its first long-term care facility acquisition; the seller was an independent owner-operator looking to exit the long-term care industry. The buyer also partnered with […]

One ACO’s ‘Preferred’ Skilled Nursing Providers Actually Performed Worse Than Average

Accountable care organizations (ACOs) have reaped savings by heavily managing post-acute care length of stays and being selective about the skilled nursing facilities they work with. But one Pennsylvania ACO dug into its own data and found that its preferred network of SNFs actually performed worse than other facilities on a series of key metrics, […]

As Medicaid Rates Lag Behind Costs, Unpaid Nursing Home Bills Pile Up

Across the U.S., Medicaid rates tend to fall short of the cost of nursing home care for beneficiaries. In the state of Massachusetts, the financial pressures have rendered many skilled nursing facilities unstable — and forced many of them to close. The trend has also forced many of them to leave bills unpaid, which spreads […]

Ensign Adds SNF in California; Monarch Acquires Former Welcov Facilities

The Ensign Group (Nasdaq: ENSG) acquired the operations of the 99-bed Downey Care Center, a skilled nursing facility in Downey, Calif. The acquisition was effective March 1. “It’s been many years since we have found the right opportunity to grow in Southern California,” Ensign President and CEO Christopher Christensen said in a statement announcing the […]

Five Star Books $74.1M Loss in 2018 as Viability Concerns Remain

Five Star Senior Living (Nasdaq: FVE) reported net losses for both the fourth quarter and fiscal 2018 amid uncertainty about its ability to continue as a going concern. The losses came even as Five Star reported a slight uptick in occupancy in its service lines. The Newton, Mass.-based company operated 284 senior living communities in […]

ProMedica Loses $70M in 2018 After ManorCare Skilled Nursing Acquisition

Non-profit hospital operator ProMedica announced its first set of annual financial data after acquiring skilled nursing giant HCR ManorCare last year, and the early results weren’t positive. The Toledo, Ohio-based firm reported $70 million in losses for fiscal 2018, according to an unaudited financial report for bondholders, despite a major revenue gain from absorbing approximately […]

Greystone Taps Senior Living Vet Handelson to Run Chain of 28 SNFs

Skilled nursing operator Greystone Healthcare Management announced the appointment of Stephanie Handelson, a longtime leader in the senior living industry, as CEO. Handelson formally assumed the top spot at the chain of 28 skilled nursing facilities on Monday, succeeding interim CEO Gerry Jenich. The Tampa, Fla.-based firm operates as the Greystone Health Network, with home […]

NYT: Nursing Home Closures Hit Rural America Amid Financial Hardship

The New York Times covered the wave of rural nursing home closures, which come amid financial problems and aging Americans’ changing preferences, in a deep dive published Monday. The article zeroed in on the closure of a nursing home in Mobridge, S.D., which was taken over by Black Hills Receiver after former operator Skyline Healthcare […]