Most newly admitted nursing home residents could not be safely and cost-effectively diverted to home- and community-based services (HCBS) because many of them have health issues, such as dementia and stroke, that require high levels of care, according to a Canadian study in the July issue of JAMDA. Only about one in 20 nursing home residents could […]
Skilled Nursing News Take: On the same day that Kaiser Health News published this story, American Health Care Association President and CEO Mark Parkinson estimated that the Senate’s health reform bill would ultimately cost individual SNFs $600,000 annually. This KHN story suggests what that might look like—compromising care for people like Alice Jacobs while forcing providers like Dogwood […]
Under the Senate’s plan to repeal and replace Obamacare, most skilled nursing facilities will lose far more in Medicaid dollars than they make each year — and states could start the belt-tightening as soon as next year if the legislation passes in its current form. Pointing to two key changes in the way Medicaid funding […]
With skilled nursing facing a labor crunch that could explode into a full-scale crisis, one major provider association has launched a Center for Workforce Solutions. Washington, D.C.-based LeadingAge — an organization with more than 6,000 members, mostly consisting of non-profit senior care providers — officially announced the Center for Workforce Solutions last week. It will […]
Kentucky SNF to Break Ground in July After Eight-Year Wait After an eight-year process that saw legal actions and the death of the project’s champion, the Loveland, Ohio-based Carespring Health Care Management finally has a start date for construction on a skilled nursing facility in the Cincinnati suburb of Boone County, Ky. Carespring will break […]
While the exact effects of the Senate’s version American Health Care Act remain to be seen, one leading home health care company says the legislation could shift dollars away from institutional care — directly contradicting an earlier report that indicated skilled nursing would represent a vital care option that states would be loath to take […]
Welcome to an eventful Friday in the world of skilled nursing, as both industry players and average Americans still struggle to untangle the implications of the Senate’s version of the American Health Care Act — and the Senate GOP leadership attempts to wrangle enough votes to pass the legislation by the time Congress takes off […]
A recently filed lawsuit alleges that U.S. investors moving to acquire 14 skilled nursing facilities and other senior housing properties actually were tricked by Canadian fraudsters. Illinois-based developer SSU LLC, which does business as Sunny Side Up, filed a lawsuit for $36 million in damages against Ontario-based Paramount Equity Financial Corporation, Canadian businessman Enzo Mizzi, […]
The U.S. Senate on Thursday released the long-awaited details of its Obamacare repeal plan, confirming rumors that it would see the House’s plan to cut Medicaid spending and raise it — potentially spelling trouble for skilled nursing operators. Medicaid remains the single largest payer for skilled nursing services in the United States, shelling out $55 billion to SNFs […]
A five-star rating from the Centers for Medicare & Medicaid Services (CMS) can boost a skilled nursing facility’s profile in a community and perhaps attract increased attention — and dollars — from potential investors. But savvy buyers should consider the wider context of a particular SNF’s Nursing Home Compare stars, as buried beneath a supposedly “bad” […]
Chief executives and financial managers who work in California’s skilled nursing industry make more per year than the national average for those professions, while general and operations managers earn less. That’s according to a sample from a newly launched National Investment Center for Seniors Housing & Care (NIC) MAP report that tracks metropolitan, state, and national employment and wage […]
As the Senate reportedly prepares to release its version of legislation that would repeal and replace the Affordable Care Act, a leading health care nonprofit warns that changes to the Medicaid program under the American Health Care Act could harm the skilled nursing industry. Medicaid represents the largest payer for skilled nursing services, providing $55 […]
Florida Gov. Rick Scott signed into law this week a health care bill that will bring a prospective payment system (PPS) to skilled nursing providers for Medicaid, but a statewide trade group says it has several issues with the legislation that it hopes to address before it takes full effect in 2018. Under the new law, […]
MedEquities Pays $10 Million for Conn. SNF Real Estate MedEquities Realty Trust, Inc. (NYSE: MRT) acquired the real estate of Woodlake at Tolland Nursing & Rehabilitation Center, a skilled nursing facility in Tolland, Conn., from Prospect Medical Holdings, Inc. for a total of $10 million. The Nashville, Tenn.-based MedEquities plans to enter into a 12-year, triple-net lease […]
Several publicly traded real estate investment trusts (REITs) have backed off skilled nursing in recent months and years, but one major player recently made an eye-popping investment in the asset class. The largest health care REITs — Ventas (NYSE: VTR), Welltower (NYSE: HCN), and HCP (NYSE: HCP) — all have either spun off the majority […]
The Senate’s version of the American Health Care Act may include an even more austere future for Medicaid spending than the House’s vision of $800 billion in cuts over the next decade. Medicaid is the largest payer for long-term care nationally, and skilled nursing providers are watching the evolving legislation closely — though it remains unclear what […]
In an almost paradoxical landscape, where the outlook for skilled nursing operators remains bleak while prices for individual SNFs have never been higher, one particular type of buyer stands to benefit the most — and it’s not the big boys or the mom-and-pops. Mid-sized SNF operators and owners — those with perhaps 15 to 30 properties — are in […]
Genesis HealthCare (NYSE: GEN) on Friday announced the execution of a $53.6 million settlement with the United States Department of Justice over a variety of improper billing allegations. The Kennett Square, Pa.-based post-acute provider denied all of the government’s claims, which included four separate sets of allegations involving various Genesis subsidiaries. In its complaint, the DOJ […]
The American Health Care Act (AHCA)—the Republican plan to repeal and replace Obamacare—would alter the way Medicaid is funded, and could influence more states to shift care back to skilled nursing facilities (SNFs), according to a recent report. By switching Medicaid financing to per capita caps, which provides states with an aggregate amount of funding […]
It’s Friday afternoon, which means it’s time for a quick look back at the biggest skilled nursing headlines of the past week, and a peek into what could be on the horizon in the coming days. Skilled Nursing News brought you extensive coverage from the Post Acute Link Care Continuum Conference in our hometown of […]
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