Sabra Sues for Control of Senior Care Centers Properties Amid $385M Sale

Sabra Health Care REIT (Nasdaq: SBRA) this week filed a lawsuit seeking control over 38 properties operated by Senior Care Centers, which entered Chapter 11 bankruptcy protection earlier this month. In a filing submitted to the U.S. Bankruptcy Court for the Northern District of Texas, lawyers for the real estate investment trust (REIT) accused Senior […]

CMS Looks to Expand 3-Day SNF Waivers, Encourage Risk with New ACO Models

The Centers for Medicare & Medicaid Services (CMS) on Friday finalized its new set of rules for accountable care organizations (ACOs), removing the no-risk tracks that represented financial drains on Medicare and expanding three-day stay waivers for nursing homes. Under the new “Pathways to Success” model, most new ACOs will only have two years to […]

Sabra’s ‘Genesis Exodus’ Nears Completion with $75.7M Sale of 13 SNFs

Sabra Health Care REIT (Nasdaq: SBRA) on Wednesday announced the sale of 13 more skilled nursing facilities operated by Genesis Healthcare (NYSE: GEN), leaving just three more to sell before the real estate investment trust (REIT) completes its long-planned divestiture of Genesis assets. Four of the Genesis-leased facilities sold last week for $38.6 million, with […]

White Oak Picks Up $700M Portfolio of Skilled Nursing, Senior Housing Loans from Capital One

White Oak Healthcare Finance on Wednesday made another major splash in the long-term care world, announcing the acquisition of a $700 million portfolio of 12 loans associated with skilled nursing and senior housing properties. The investment company — a subsidiary of the San Francisco-based alternative asset management firm White Oak Global Advisors — bought the […]

Long-Term Care Providers Drive Growth in Special Medicare Advantage Plans

SNN presents this guest analysis from Anne Tumlinson and Elizabeth Walsh of Anne Tumlinson Innovations. Health care providers selling Medicare Advantage (MA) products isn’t a new trend, but typically “providers” refers to hospitals, health systems, or physician groups. Few would expect nursing homes and assisted living operators to be able or willing to manage health care […]

Looking Ahead to the Top Skilled Nursing Trends of 2019

We’ve made it to the end of 2018, which will likely go down as one of the most eventful years in the history of the long-term and post-acute care industry. Between the first round of Value-Based Purchasing penalties taking effect and the rapid rollout of the Patient-Driven Payment Model (PDPM), it’s probably a safe bet […]

As Lengths of Stay Decline, Drug Costs Loom Larger in Skilled Nursing

Escalating drug costs have made headlines in the health care sector at large in recent months, and as patient length of stay (LOS) declines, skilled nursing facilities are particularly feeling the pinch due to their unique supply requirements. For Transitional Care Management, which has two skilled nursing locations in Illinois, the average cost of medications […]

Greystone’s $24M Deal in the Bronx; SNF-to-Behavioral Conversion in Mass.

Greystone Lands Nearly $24M Loan for Bronx Building Lending and advisory firm Greystone originated a $23.9 million loan to refinance the 200-bed Eastchester Rehab & Health Care Center in the Bronx, N.Y. The transaction represents a permanent financing of the property through the Federal Housing Administration, with a 30-year term. Eastchester Realty Associates will use […]

Families Prefer Non-Profit, Non-Chain Nursing Homes with Strong Staffing

Families of residents feel better about care in nursing homes if the property has a non-profit owner, features higher than average registered nurse (RN) staffing, and isn’t part of a chain — at least according to the results of a new study that attempts to quantify some of the more qualitative reasons why people choose certain […]

Centers’ $19M Hospital-to-SNF Conversion Moves Forward; $28M Construction in FL

Centers Moves Forward on Hospital Conversion Nearly five years after buying a defunct hospital in Brooklyn, Centers Health Care is nearing completion on a skilled nursing conversion project. Formerly St. Mary’s Hospital, the 280-bed facility in the Crown Heights neighborhood had sat vacant since a 2005 bankruptcy, according to a report on the local news site […]

Marquis Cuts Readmission Rate By 60% with Patient-Tracking Software Pilot

In less than six months, a skilled nursing provider in the Pacific Northwest cut hospital readmissions by 60%, and its director of data analytics credits a novel pilot partnership with a growing software provider. Starting in May, the Milwaukie, Ore.-based Marquis Companies rolled out Collective Medical software at three facilities in Oregon; at the time, […]

$32M Bridge Loan for TX Portfolio; Nursing Home Breaks Ground in Illinois

Greystone Provides $31.5M Bridge Loan for SNF Portfolio in Texas Greystone provided a $31.5 million bridge loan for a portfolio of four skilled nursing facilities in Texas. The non-recourse loan carries an initial term of 24 months with two six-month extension options; it also includes a floating interest rate and interest-only payments for the entire term. […]

OIG: 46% of Medicare Patients in LTACs Experience Harm

Almost half of Medicare patients experience either adverse events or temporary harm events inside the walls of a long-term care hospital (LTCH) according to a November report from the Department of Health and Human Services (HHS). The Office of Inspector General (OIG) found that 21% of Medicare patients in LTCHs — also known as long-term […]

Sabra Inks Deal to Sell 38 Senior Care Centers Buildings for $385 Million

Sabra Health Care REIT (Nasdaq: SBRA) on Thursday announced a $385 million deal to sell all 38 buildings in its portfolio operated by troubled skilled nursing provider Senior Care Centers. The deal — which the Irvine, Calif. based real estate investment trust (REIT) had previously announced earlier this year — is expected to close early […]