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 […]
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 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 […]
Now that you’ve had a chance to check out our top predictions for 2019, it’s time for a look back at the stories that shook the skilled nursing industry over the last 12 months. In some ways, the year represented a continuation of the trends that dominated 2017 and the rest of this decade: Reimbursement […]
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 […]
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 […]
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 […]
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 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 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 […]
Despite having the oldest population of any state, Maine has seen its total number of nursing homes plummet in recent years amid reimbursement and staffing pressures — with 2018 ranking as the worst ever. Six nursing homes closed in the New England state this year, according to a Wednesday report from the Bangor Daily News, […]
The nation’s skilled nursing facilities saw a slight uptick in occupancy between the second and third quarters of 2018, though census remains well below the previous year’s totals — and analysts stress that it’s not time to celebrate the gain as a Christmas miracle just yet. SNFs were 82.2% full in the third quarter of […]
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 […]
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, […]
A new analysis from the Centers for Disease Control and Prevention (CDC) found that large swaths of the Western and Southern states lag far behind the national average for nursing home usage, while the Northeast and the Midwest surged above the pack. In 2016, 24 out of every 1,000 people over the age of 65 […]
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. […]
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 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 […]
Medicare Advantage (MA) plans are trying to reduce post-acute care spending by limiting the skilled nursing facilities in their networks, and by capping the lengths of stay — and SNFs and hospitals aren’t taking it well. That’s according to a study published Monday in the American Journal of Managed Care, which tracked the opinions administrative […]
One day after Senior Care Centers filed for bankruptcy, another one of its landlords reported that the skilled nursing provider has fallen behind on rent. LTC Properties, Inc. (NYSE: LTC) on Wednesday announced that it has not received its December lease payments from the Dallas-based Senior Care Centers, which filed for Chapter 11 bankruptcy protection […]
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