An activist investor of National Health Investors (NYSE: NHI) issued an assessment Tuesday that one of NHI’s largest tenants – National HealthCare Corporation (NYSE: NHC) – could lose 19% to 38% of its earnings under any lease renewal scenario with NHI. According to Land & Buildings Investment Management, which is a significant shareholder of NHI, […]
Category: Original Story
While Centers for Medicare & Medicaid Services (CMS) has made improvements following previous recommendations from the Medicare Advisory Commission (MedPAC), the Medicare Advantage (MA) program and the value-based purchasing program still suffer from “design flaws,” according to the organization. MedPAC is calling attention to what it perceives as design flaws in the programs, including incentives […]
Allegations against UnitedHealth Group (NYSE: UNH) that it secretly paid nursing homes in order to reduce hospital transfers of residents under its Medicare Advantage (MA) plans are leading lawmakers on both sides of the aisle to increase calls for a federal investigation. Last week, UnitedHealth filed a defamation lawsuit against the Guardian newspaper – whose […]
Proposed Medicaid cuts are spurring widespread concern among nursing home providers, as reductions would severely impact care quality, staffing, and facility operations. Activity on the Hill and a new report puts the spotlight on potential impact to stakeholders. About 92% of providers are concerned about further Medicaid cuts, according to a May report from the […]
Nursing home jobs increased by 6,000 in May, or a 6% jump compared to the previous month, according to a new report from the Bureau of Labor Statistics (BLS). The increase represents a sizable improvement in the number of nursing home jobs compared to last May, when the number of such positions decreased by 0.1%. […]
A state bill in Louisiana made progress this week, granting broad legal protections to nursing home management companies, despite widespread concern over poor care and accountability. The legislation would shield nursing homes from most lawsuits, funneling claims through the Medical Malpractice Act which caps damages and limits the financial liability of individual owners to $100,000. […]
Omega Healthcare Investors (NYSE:OHI) announced on Tuesday that its tenant LaVie Care Centers has completed its bankruptcy proceedings effective June 1, and the Omega-LaVie master lease has been assigned to a new entity called Avardis. “Monthly contractual rent amounts under the Avardis lease remain the same as the legacy LaVie master lease,” Omega noted during […]
While Medicare Advantage claim denials represent 17% of initial claim submissions, including those submitted by nursing home providers, about 57% of these denials are ultimately overturned. However, MA claim denials result in a 7% net reduction in provider MA revenue, due to the dollar-weighted share of claim denials that were not overturned, according to a […]
Palm Health Partners’ Paul Walczak on Wednesday was pardoned by President Donald Trump, weeks after Walczak’s mother Elizabeth Fago attended a $1 million-per-person fundraiser at Mar-a-Lago. The Florida-based nursing home executive failed to pay more than $10 million in taxes, instead using the withheld taxes to enrich himself, according to an April statement from the […]
Legislation to streamline and improve outdated prior authorization processes for Medicare Advantage (MA) was reintroduced this week. The Improving Seniors’ Timely Access to Care Act would require MA plans to adopt an electronic prior auth system with standardized transactions, and improve transparency around MA prior auth use and requirements. It’s the third time this legislation […]
Greystone provided $40.5 million in bridge financing to Kalesta Healthcare Group for the acquisition of two nursing homes in California. Meanwhile, Dwight Capital and its real estate investment trust affiliate closed on $521 million in financing for Q1. Greystone Provides $40.5M in Bridge Financing for CA Portfolio Commercial real estate finance company Greystone provided $40.5 […]
Creative Solutions in Healthcare, one of the nation’s largest nursing home operators, has created a new position to explore operational innovation and technology-driven care while reducing administrative burdens among frontline staff. Chelsea Jordan has been named vice president of data integration and payroll, a position that will include traditional payroll oversight while also supporting efforts […]
During a Congressional hearing held Wednesday, U.S. Department of Health & Human Services (HHS) Secretary Robert F. Kennedy Jr. defended the Trump administration’s proposed cuts to top health agencies as lawmakers questioned HHS actions under his leadership – ranging from workforce reductions at HHS to spending cuts on scientific research, including research impacting older adults […]
An unnamed tenant has decided not to renew its lease with real estate investment trust (REIT) LTC Properties (NYSE: LTC) for seven skilled nursing facilities that are currently part of LTC’s assets. LTC leaders said they are continuing with the sale process for the properties, and remain committed to replacing at least $8.3 million in […]
A federal jury has found CVS Health (NYSE: CVS) subsidiary and long-term care pharmacy Omnicare liable for improperly billing the federal government, resulting in more than $135 million in damages. Omnicare is the largest pharmacy serving the nursing home sector. A jury found Omnicare billed Medicare, Medicaid and TRICARE for over 3 million false claims […]
Cost-cutting measures in nursing homes, particularly food budgets, have been a concerning underlying issue in the industry, with more than a quarter of facilities in the country spending under $10 per day on food per resident. An investigative report by NJ Advance Media, in collaboration with Rutgers University and data experts at SNFdata Resources of […]
Welltower Inc.’s (NYSE: WELL) $1.2 billion in skilled nursing investments in the first financial quarter served as a “credit business,” executives of the real estate investment trust (REIT) said Tuesday while discussing details of its investment in Aspire Healthcare. Welltower Co-President and Chief Investment Officer Nikhil Chaudhri described skilled nursing as a credit business, in […]
The Department of Veterans Affairs (VA) has yet to address a recommendation made by the U.S. Government Accountability Office (GAO) to identify additional enforcement actions for VA nursing homes, and to ensure such facilities comply with quality standards. The recommendation was made as part of a November 2022 report to help the VA oversee these […]
Legislation introduced a second year in a row in Louisiana would make it more difficult to sue nursing home operators and limit the amount of money residents and their families could receive from lawsuits involving injuries, neglect and wrongful deaths. Republican Sens. Thomas Pressly and Alan Seabaugh re-introduced the bill in response to an increase […]
States with significant survey backlogs have prompted lawmakers to take action, in one case possibly requiring the state health department to provide quarterly reports on the progress of nursing home inspections. In Maryland, a bill awaiting the governor’s approval will require the state office of Health Care Quality to report to local jurisdictions every six […]
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