LTC100 Panelists Weigh in on CMS Staffing Rule’s ‘Bloodbath’, Growth Strategies, and Risk-Based Model Reimbursement

If there’s no additional funding for the minimum staffing rule, well over 5% of existing facilities will close, depending on how successfully operators can pivot to meet the standard. The rates of closure may even reach 10% to 15%, depending on the market, cautioned sector leaders attending the LTC100 conference this week. Steve Nee, CEO […]

Skilled Nursing Outlook 2024: Leaders Bullish on Occupancy But Recruitment, Retention Emerge as Significant Concerns

The year 2024 will pose a challenging landscape for skilled nursing professionals, with staffing problems still creating headaches. And yet, optimism is increasing and providers seem eager to drive expansion amid overall positive expectations for occupancy growth. The Skilled Nursing Outlook 2024 survey, which SNN conducted in partnership with Net Health, points to leaders perceiving […]

Nursing Home Leaders Aim to Harness AI, Data to Beat Staffing and Payment Challenges in 2024

For 2024, the nursing home industry’s focus must be on strategies that prioritize data accuracy, effective leadership, and innovative solutions as facilities evolve to meet changing demands and challenges from staffing. This is the view expressed during a webinar held Thursday based on a survey of our readers on their outlook for 2024 titled, “Skilled […]

Comprehensive Healthcare Warns Company May Close Unless 7 Nursing Homes Are Sold, DOL Seeks Injunction

Comprehensive Healthcare may be forced to close unless the owners are allowed to sell seven nursing homes, according to a report on Wednesday from TribLive, the website of the Pittsburgh Tribune-Review. Comprehensive currently operates 15 facilities. The seven facilities involved in the sale have a combined 747 beds, according to the report. The U.S. Department […]

Future Leader: Steve Nee, Chief Executive Officer, Diversicare Healthcare Services

The Future Leaders Awards program is brought to you in partnership with PointClickCare (BHB, SHN, SNN) and Homecare Homebase (HHCN, HSPN). The program is designed to recognize up-and-coming industry members who are shaping the future of behavioral health, home health, hospice and palliative care, senior housing and skilled nursing. To see this year’s Future Leaders, […]

Diversicare On the Hunt For New CEO After McKnight Exits

Diversicare Healthcare Services is currently on the hunt for a new leader to take the helm after former CEO Jay McKnight left the nursing home operator at the end of August. McKnight joined Tennessee-based Diversicare as executive vice president and CFO in 2012 before taking the helm as president and CEO in 2018. He’s also […]

MarketWatch Shines a Light on Diversicare Acquirer Lahasky

Even skilled nursing industry insiders may not know a whole lot about the investor who recently bought Diversicare Healthcare Services properties – Ephram “Mordy” Lahasky. The private investor doesn’t maintain a corporate website and has “largely avoided reporters for years,” according to a MarketWatch article published Wednesday. MarketWatch spoke with Lahasky for its story; Skilled […]

The Trends That Will Shape Skilled Nursing in 2022

The COVID-19 pandemic continued to put pressure on an already strained skilled nursing industry in 2021. The next 12 months will be yet another test of resilience. Looking ahead to 2022, SNFs must stay nimble and inventive to not only survive but thrive. Private equity will continue to lead the nursing home transaction market pack, […]

DAC Acquisition Completes Deal to Acquire Diversicare

A merger agreement between DAC Acquisition LLC and Diversicare Healthcare Services (OTCQX: DVCR) is complete, according to an announcement made Friday. Diversicare’s stockholders will receive an amount of cash equal to $10.10 per share of Diversicare common stock, as was previously reported by Skilled Nursing News when the proposed deal was announced back in August. […]

Diversicare Reports Net Loss for Third Quarter, Close to Completed Merger with DAC

Diversicare Healthcare Services (OTCQX: DVCR) published its earnings details on Tuesday, reporting a net loss from continuing operations at -$2.9 million, or -43 cents per share in the third quarter. During the third quarter of 2020, Diversicare reported a net income of $3.2 million from operations, or 48 cents per share. The Brentwood, Tenn.-based skilled […]

Some REITs Worry Where Hot SNF Market Will Lead

The average price per bed for nursing homes rose almost 22% year over year for the first quarter of 2021, as staffing shortages and slow occupancy recovery has done little to cool an already heated market, leaving some real estate investment trusts most active in the space disconcerted of what the future may hold. “If […]

DAC Acquisition to Acquire Diversicare

DAC Acquisition LLC has entered into a merger agreement with Diversicare Healthcare Services (OTCQX: DVCR) for $10.10 per share in a deal announced on Friday. The price represents a value of approximately 256% from Diversicare’s closing share price on Aug. 19 at $2.84 and a premium of approximately 210% to the 90-day average trading price […]

New York Investor Makes Takeover Bid for Diversicare

A New York-based investor has expressed interest in buying nursing home operator Diversicare Healthcare Services. New York-based retirement assets manager MCS Plan and its manager Ephram “Mordy” Lahasky have offered to pay $10.10 for Diversicare’s shares, which closed Wednesday trading at $7.81, up $0.22 or 2.9%. Tennessee-based Diversicare, which has 61 facilities in nine states, […]

Delta Variant Strikes as Diversicare Seeks More Government Aid

More than half of Diversicare Healthcare Services (OTC: DVCR) facilities are seeing spikes in COVID-19 cases, which CEO Jay McKnight attributed to the delta variant during the company’s second quarter earnings call. The Brentwood, Tenn.-based nursing home operator had “virtually no” cases as of its first financial quarter earnings call in May, McKnight said. “We […]

Diversicare Sees $1M Boost from Reliant Therapy Shift, Reports $25.9M in Unspent Stimulus

Diversicare Healthcare Services (OTC: DVCR) this week reported a financial boost from its decision to outsource therapy services, along with a significant cache of stimulus funds waiting for deployment. The Brentwood, Tenn.-based nursing home operator in November announced a shift from its wholly-owned Diversicare Therapy Services to Reliant Rehabilitation, a move that Jay McKnight predicted […]

Diversicare Inks Deal to Outsource All Therapy to Reliant Rehab, Expects Cost Savings

Nursing home operator Diversicare Healthcare Services (OTCQX: DVCR) this week announced a deal to shift all of its therapy services to a third-party provider, Reliant Rehabilitation. The Brentwood, Tenn.-based chain had previously offered rehab care under Diversicare Therapy Services, a wholly owned subsidiary. “We believe that this transition will equip us to continue to be […]

Diversicare ‘A Very Different Company’ After Kentucky Exit, Touts 7.5% Medicare Rate Boost

Despite a net loss for the quarter, skilled nursing operator Diversicare Healthcare Services (OTCQX: DVCR) touted its performance at the end of 2019, pointing to a 7.5% Medicare rate boost and generally positive performance under the new Patient-Driven Payment Model (PDPM). “With our portfolio changes behind us after the Kentucky exit and the implementation of the new […]