Quality Care Properties, Inc. (NYSE: QCP) on Monday issued an ultimatum to HCR ManorCare, Inc., its primary skilled nursing tenant: Pay the nearly $80 million in back rent that you owe, or you’ll be on the hook for a whole lot more. The Bethesda, Md.-based real estate investment trust (REIT) issued a notice of default […]
Date: July 11, 2017 Time: 1 PM ET Register here Join industry expert, Michael Katri, who will lead this webinar discussing the Advance Notice of Proposed Rule Making (ANPRM) related to SNF PPS Payment Reform published by CMS on April 27, 2017. With this pending proposal, the industry consensus is that therapy utilization and revenue […]
Though many of the chief executives behind some of the biggest public skilled nursing companies in the U.S. made millions of dollars last year, some earned more than others. Company leaders at Quality Care Properties (NYSE: QCP), Kindred Healthcare (NYSE: KND), and Omega Healthcare Investors (NYSE: OHI) made the most in total compensation in 2016 — […]
New York State SNF to Close Due to Declining Occupancy Michaud Residential Health Services in Fulton, N.Y. is making plans to transfer its 64 residents and close by October 1. The 89-bed facility, which has been in operation since the 1970s, was previously owned by Oswego County, but was sold to not-for-profit St. Luke Health Services […]
It’s the end of a holiday-shortened week, but the days off didn’t stop a wave of SNF news. In case you’ve been enjoying some extra time away from the office, here’s what you missed. We continued to untangle the strands in Kindred’s deal to exit the SNF business, a blockbuster transaction that’s worth $700 million, $910 […]
The Senate’s proposed health care legislation, like the bill that passed the House, includes significant cuts to Medicaid, which is the top payer for skilled nursing services. This presents obvious challenges for SNFs, but also may provide some positive outcomes. In the first quarter of 2017, 65.2% of patient days were attributed to Medicaid, and the Medicaid patient […]
Illinois has been ordered by a U.S. judge to pay its Medicaid bills — to the tune of more than half a billion dollars per month. Illinois must pay a staggering $586 million per month to Medicaid providers to ensure continued care for beneficiaries, a U.S. judge ruled on June 30. The ruling comes after […]
Skilled Nursing News Take: In the same week that the Centers for Medicare & Medicaid Services (CMS) announced that it would delay enforcement of new skilled nursing regulations, Kaiser Health News took this deep look into how some troubled SNFs continue to rack up safety violations even after graduating from the agency’s most stringent monitoring […]
Last year, the Centers for Medicare and Medicaid Services (CMS) issued its first comprehensive overhaul of skilled nursing rules since 1991. But faced with objections from operators in the industry about the scope and timing of the new requirements, CMS decided to delay their enforcement of the regulations. The Phase 2 stipulations of the revised Requirements […]
When Kindred Healthcare (NYSE: KND) finalized a blockbuster deal to sell its SNF portfolio for $700 million in cash at the start of the holiday weekend, the post-acute giant may have been making a long-term bet with significant upfront costs. Much of the $210 million that Kindred expects to net from the deal will come from […]
Skilled nursing operator HCR ManorCare, Inc. missed another rent payment, the latest milestone in a long-developing conflict with its landlord, Quality Care Properties, Inc. (NYSE: QCP). QCP, the real estate investment trust (REIT) that serves as ManorCare’s primary landlord, announced Wednesday that the provider had missed its July 3 rent deadline as attempts to restructure […]
Last month, the Centers for Disease Control and Prevention issued a warning to skilled nursing operators and other health care providers about the dangers of Legionnaires’ disease, an airborne illness that can claim lives — and costs operators hundreds of millions of dollars annually. Advances in skilled nursing facility design have made disease prevention easier for […]
About six months after announcing its intention to cease being an owner and operator of skilled nursing facilities, Kindred Healthcare (NYSE: KND) has struck a deal to sell its SNF business for $700 million in cash. The total value of the transaction to Kindred is expected to be $910 million, the Louisville-based company announced late […]
You’ve made it to the Friday ahead of a long holiday weekend! Whether you’re still in the office or checking this on a phone from a beach, lakefront, or park, all of us at Skilled Nursing News would like to wish you a happy and safe July 4 weekend. Our headquarters in Chicago will be […]
As the Republican health care plan undergoes changes before its day on the Senate floor for a vote, health care providers are tracking how the legislation, the Better Care Reconciliation Act, could impact the skilled nursing field. While potential cuts to Medicaid — ranging from estimates between more than $770 billion and $810 billion — […]
Date: July 11, 2017 Time: 1 PM ET Register here. Join industry expert, Michael Katri, who will lead this webinar discussing the Advance Notice of Proposed Rule Making (ANPRM) related to SNF PPS Payment Reform published by CMS on April 27, 2017. With this pending proposal, the industry consensus is that therapy utilization and revenue will drop […]
The House of Representatives on Wednesday passed a bill that would limit skilled nursing and other health care providers’ liability in malpractice cases, prompting praise from industry groups but concern from patient advocates. The Protecting Access to Care Act of 2017 would establish federal statutes of limitation on lawsuits stemming from injuries incurred at any […]
Various health care agencies and groups have expressed concerns over the effects of Obamacare repeal on Americans’ access to skilled nursing care, as well as the ongoing viability of SNFs as a business amid steep Medicaid cuts. At least one commentator also claims that the GOP health plans could lead to a return to the […]
Flying in the face of “contrarian” analysts who “signed its death certificate,” the skilled nursing industry continues to attract attention and dollars from investors, with per-bed prices tripling since 2003, a new report states. The median SNF sold for $94,600 per bed in 2016, a gain of 42% from 2015, according to a report released Wednesday by Irving […]
Faced with growing dissent from both the conservative and moderate wings of his own party, Senate Majority Leader Mitch McConnell delayed a vote on the Republican plan to repeal and replace Obamacare — one day after the Congressional Budget Office foresaw a dark future for Medicaid under the bill. McConnell announced Tuesday that the Senate would […]
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