American Senior Communities’ incoming CEO, Steve Van Camp, plans to focus on the road to recovery from Covid in restoring occupancy levels while advancing workforce initiatives. In an exclusive interview with Skilled Nursing News, Van Camp also shared his worries about resolving the staffing crisis amid sector-wide concerns related to the forthcoming proposal on minimum […]
Category: Finance
American Senior Communities announced Thursday that Steve Van Camp will become its new CEO effective June 1. Van Camp will replace Donna Kelsey, who is expected to remain with the company as a senior advisor, ASC said in a press release. “I am confident in Steve’s ability to keep delivering quality care as the top […]
Clinical talent leaving the workforce has taken center stage as nursing home industry leaders discuss the ongoing staffing shortage – but that’s only part of the story. The other half of the devastating staffing crisis, operators say, is tied up in a loss of back office talent. And this shortage of back office workers is […]
All skilled nursing facilities that participate in Medicare Fee-for-Service (FFS) can expect a letter from the Centers for Medicare & Medicaid Services (CMS) regarding improper payment rates starting June 5. And, as of an updated memo from CMS on Monday, claims could be adjusted or denied if an improper payment is identified. CMS initially posted […]
Representatives in Hawaii and Alaska are pushing for legislation that would increase funding for skilled nursing facilities in both states. The Equitable Payments for Nursing Facilities Act of 2023, originally introduced in 2021, would authorize a cost-of-living adjustment to the Medicare payment formula for skilled nursing facilities (SNFs) in Hawaiʻi and Alaska to account for […]
As the public health emergency expires today – along with crucial waivers for skilled nursing providers – CareTrust REIT (Nasdaq: CTRE) says some of its tenants could potentially be impacted while others see it as a nonevent. CareTrust CEO David Sedgwick said his team continues to watch Medicaid rebasing closely as the PHE era 6.25% […]
Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, financed over $118.35 million in seniors and healthcare financing during Q1 2023. Among the transactions was a HUD loan for Riverfront Rehabilitation and Healthcare Center, a 180-bed skilled nursing facility (SNF). Dwight closed a $31.2 million HUD refinance loan for Riverfront Rehabilitation and Healthcare Center. According […]
National Health Investors (NYSE: NHI) reported a favorable first quarter, with executives saying Wednesday that the company is well positioned to return on historical investment trends as market conditions improve. “We are content to be patient and believe we are in the enviable position of having significant capital to deploy at a time when capital […]
Infection prevention and control is always front and center at nursing homes and ever more so now in the midst of growing concerns over drug-resistant superbugs, such as Candida auris. While these infections are on the rise, a change to Covid-era protocols has meant less money for infection prevention efforts. However, clinical experts say that […]
Medicare fee-for-service (FFS) admissions increased among skilled nursing facilities by 5.8% in 2022, while other care settings saw a decrease in this metric, and as SNF utilization rates increased nationwide. However, quarterly skilled nursing admissions still decreased faster than FFS enrollment. That’s comparing 2019 and 2022 directly, according to Trella Health’s annual industry trend report […]
Compass Healthcare, which rebranded the center as Lakehouse Healthcare and Rehabilitation Center, paid $23.75 million for a Walker Methodist skilled nursing facility in south Minneapolis, a 39-year-old facility. Walker Methodist owns and operates 18 senior living communities in Minnesota and Wisconsin. The company also closed three sales in 2022, including $4.5 million for Vista Prairie […]
Ongoing portfolio restructuring suppressed first quarter earnings for Sabra Health Care REIT (Nasdaq: SBRA), but executives are bullish on improving market conditions and metrics for skilled nursing. “It feels good to at least believe that we’ve gotten the worst behind us, and I really do feel pretty good about things going forward,” CEO Rick Matros […]
Following its first quarter earnings release, executives at Omega Healthcare Investors Inc. (NYSE: OHI) said Wednesday that new investments along with restructuring of existing deals will result in gains. This is in part due to rent deferrals ending on some of Omega’s properties and operating trends continuing to improve for the sector, company leaders said […]
Leaders with Welltower (NYSE: WELL) are touting improvements in a portfolio of seven skilled nursing facilities, saying that a similar playbook is being deployed across the large portfolio of SNFs in its joint venture with Integra Health. The seven SNFs in question transitioned from being operated by Genesis HealthCare to Complete Care Management, in 2021. […]
In announcing its first quarter earnings results, Omega Healthcare Investors Inc. (NYSE: OHI) said Tuesday that it completed $233 million in new investments so far in the second quarter of 2023. These new investments include Omega’s acquisition on April 14 of four skilled nursing facilities (SNFs) in West Virginia for $114.8 million, which it leased […]
Leaders with LTC Properties (NYSE: LTC) said the real estate investment trust (REIT) has made significant investments so far this year and currently has a pipeline of an additional $100 million in intended investments that are skewed toward private pay assets. This, despite higher interest rates and economic challenges impacting the sector, company executives said […]
California-based health care group Kaiser Permanente on Wednesday announced its plans to acquire Pennsylvania-based, Geisinger Health, to form a new healthcare entity in a deal that aims to expand value-based care access across the U.S., with potential implications for how care is delivered to older adults. The new entity, Risant Health, will be headquartered in […]
Nursing home operators that were able to diversify their businesses and adjust to the patient-driven payment model (PDPM) while battling through Covid-19 now find themselves in a position of strength. This was one message that top operator executives delivered last week at Skilled Nursing News’ CLINICAL conference in Washington, D.C. They discussed how Covid-era practices […]
Last week, Siena Healthcare Finance announced the closing of a $15M working capital facility for Michigan based Optalis Health & Rehabilitation, through a line of credit for Optalis’ acquisition of a new SNF group. “We are thankful to partner with Raj, who has led Optalis on a continued growth strategy,” said Jennifer Sheasgreen, Siena Healthcare […]
Nursing homes in Ohio may see a significant boost in state investment from Medicaid and Coronavirus relief funds thanks to a budget proposal expected to pass the House on Thursday. The House framework includes major changes to the governor’s proposed budget including giving Medicaid dollars to put residents in private rooms, and an amendment that […]