More than 280,000 residents, or nearly a quarter of all residents, could be impacted by the staffing mandate – if nursing home operators have no choice but to reduce their census in order to meet hourly requirements. The proposed federal mandate would require an estimated 102,154 additional full-time employees. That’s 80,077 certified nursing assistants (CNAs) […]
As the nursing home industry finally gets a first look at the long-awaited proposed minimum staffing mandate released early Friday, leaders across the sector say that its most critical aspects deal with implementation timing, a “good faith” provision, and requirements for registered nurses (RNs). As it stands, the proposed rule has major implications for access […]
As nursing homes limit admissions due to ongoing labor challenges, residents can expect a mounting access crisis, with some U.S. counties being turned into “nursing home deserts.” This is according to a report released Wednesday by the American Health Care Association (AHCA), which notes that nearly 450,000 residents will be displaced if a potential minimum […]
Amid a banking and credit crisis, financial backers of the nursing home industry are seeing less stable assets, a product of volatility in the market. And even as some states are now responding with Medicaid reform and rebasing to mitigate the sector’s losses, many operators were struggling financially prior to the pandemic, and the sector’s […]
Labor costs and interest rates, among other macroeconomic factors, continue to affect the nursing home industry as use of temporary staff and AI also appear to be exerting an influence. That’s according to CliftonLarsonAllen’s (CLA) economic outlook for 2023, which outlined industry priorities for the next couple of years. Containing labor costs in part by […]
Leaders at nursing homes could create long-term value for their organizations if they adopted a population health focus, empowered local leaders and pursued actively value-based purchasing models. That’s according to a report published by CliftonLarsonAllen (CLA) earlier this month. In an industry facing seismic changes, SNF operators should seize strategic opportunities, empower local leadership, and […]
Life plan communities (LPC) are seeing significant credit risk linked to skilled nursing facility components. And some of this risk is heightened by labor issues at SNFs. That’s according to data published by Fitch Ratings in its latest Labor Dashboard for the sector, which found persistently high wage inflation among SNF workers – wages remain […]
As nursing home closures displace residents across the country, state legislatures are scrambling to place stopgaps for operators, their residents and families facing access issues. The two bills introduced in the Montana legislature last week both stem from closures in the state – 11 in the past year, which is about 16% of the state’s […]
As the federal staffing minimum mandate proposal and study is due to be revealed in a matter of months, some state leaders are calling on the Centers for Medicare & Medicaid Services (CMS) to rethink the mandate’s “one-size-fits-all” approach. Thirteen senators across nine rural states last week issued a letter addressed to CMS Administrator Chiquita […]
Leaders in the skilled nursing space have increasingly seen value in creating a primary care strategy, with some intending to become part of a risk-based model as part of that strategy — especially as acuity continues to be high among residents. Operators looking to shift to such a strategy need a clear vision of how […]
The nursing home industry remains largely fragmented, evidenced by the fact that just under one-third of the sector is currently made up of single site providers. But that number is beginning to slowly decline — having fallen two percentage points over the course of the Covid-19 pandemic, according to NIC MAP Data, powered by NIC […]
Nursing home leaders have largely steered clear of making predictions given the events of the last two-plus years, but the head of the sector’s largest trade group confidently made one Monday. “One thing that I am sure about, and that I see very clearly is my prediction, and that is that you and your team […]
Consulting firms in the skilled nursing space are getting a better snapshot of the labor market as data continues to pour in, and the outlook remains bleak – dwindling workforce numbers are running up against increased average cost of labor and overall inflation. While the SNF workforce lost approximately 238,500 staff during the pandemic, an […]
While the skilled nursing sector has seen a seller’s market the past couple years, brokers believe the pendulum is swinging the other way, toward more of an equilibrium and normalization of prices. Increased expenses tied to inflation, the ongoing staffing crisis and lackluster occupancy are all contributing to a less favorable market for sellers, while […]
Finance leaders have updated their outlook on the nursing home sector – with data points worsening as funding cuts and inflation continue to do lasting damage to the industry. About 47% of nursing home residents are now at risk of displacement due to financially imperiled facilities; roughly 417,000 residents may be relocated, according to a […]
More than one-third of nursing homes in the U.S. could be at financial risk if the Centers for Medicare & Medicaid Services stands by its proposed funding cut and federal Medicaid dollars tied to the public health emergency end in 2022. That’s according to a report released on Thursday by the American Health Care Association/National […]
Citing operational challenges, 44.5% of life plan communities (LPCs) or Continuing Care Retirement Communities (CCRCs) are looking to downsize their skilled nursing services on campus. Minimizing, but not eliminating, the use of skilled nursing will fall to “independent living internal use,” CliftonLarsonAllen (CLA) said in a report published at the end of December. In other […]
Financial performance indicators for nursing homes are changing at this point in the pandemic — instead of interest, depreciation, and amortization (EBIDA)—operators should instead be looking at alternative drivers of performance: occupancy, skilled mix and staffing, as well as external market fundamentals. CliftonLarsonAllen (CLA) prefers these drivers over more traditional means, because they cut through […]
Occupancy at the nation’s nursing homes cratered during the COVID-19 pandemic, as hospitals suspended non-emergency surgeries and families looked to avoid institutional care settings for their loved ones at all costs. During the initial coronavirus wave last spring, leaders in the sector hoped that the second half of 2020 would bring a return to normalcy […]
Even with limited data due to COVID-19, an annual benchmarking report found that the operating margin for skilled nursing facilities remained at zero for 2019. And given the costs of managing operations during the pandemic — to say nothing of the occupancy hit — the picture is bleak for margins in 2020. But for all […]
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