After divesting of its sizable portfolio over the course of several years, SavaSeniorCare will cease to exist as a company once its last five nursing homes transition to other operators, which the company expects to occur by the end of January 2023. The end of Atlanta-based Sava marks another sea change in the skilled nursing […]
Nursing home operators continue to reevaluate their position at this stage of the pandemic, as the industry continues to tackle a historic workforce shortage – some, like North American Health Care Inc., have decided to downsize in order to better manage existing properties. This shift to a more conservative strategy serves as the backdrop to […]
The Ensign Group (Nasdaq: ENSG) kept busy during the third financial quarter, signing off on a whopping 17 new skilled nursing deals. Ensign COO Chad Keetch told listeners during the company’s latest earnings call on Thursday that it was “one of the biggest” acquisition quarters in several years. The San Juan Capistrano, Calif.-based operator is […]
Doing away with large, multi-layered corporate structures, as some of the largest skilled nursing operators have done in recent months, has given companies both big and small the opportunity to assess — and in some cases — rethink the role of the company’s top executive. Iowa-based Accura HealthCare CEO Ted LeNeave purposely placed himself at […]
It’s hard to pin down how nursing home operators should be feeling as the end of the year approaches. The best way I could describe it, one week after attending the American Health Care Association/National Center for Assisted Living (AHCA/NCAL) conference in Nashville, is a combination of optimism and pessimism that fluctuates depending on the […]
The Ensign Group (Nasdaq: ENSG) is poised to overtake Genesis HealthCare as the largest nursing home operator in the country as it continues to build upon its rapidly growing portfolio, according to ownership data released last week by the Centers for Medicare & Medicaid Services (CMS). Ensign could be the largest skilled nursing provider in […]
The nursing home industry was thrust back into the national spotlight this week as federal lawmakers called out for-profit ownership for their lack of resources during the early months of the pandemic and confounding corporate structures. The Congressional Select Subcommittee on the Coronavirus Crisis, chaired by Rep. James Clyburn, held a hearing on Wednesday to […]
Federal reforms — on top of chronic underfunding in the state — has Texas-based Cascade Health Services fearing that certain facilities will be left at a disadvantage as the operator looks to grow regionally. Permanent Medicaid rate increases could be a start, Cascade CEO Ron Haney told Skilled Nursing News, but facilities in Texas will […]
ProMedica Senior Care is on a better path more than a year after Welltower (NYSE: WELL) bolstered its joint venture with the senior housing and care operator — but agency labor remains a challenge. The Toledo, Ohio-based health system this year has reported significant losses in its senior care division — which includes skilled nursing […]
As the staffing crisis continues to challenge nursing home leaders across the sector, the hundreds of thousands of workers lost over the course of the pandemic may leave a bigger hole in the industry beyond the ability to fill shifts and accept new patients. Specifically, some executives worry about a dwindling number of future female […]
Nearly half of the for-profit nursing homes in the state of Maryland have changed hands in the last five years, putting operators like Lorien Health Services in a unique position. Lorien, which offers a range of services from skilled nursing to assisted living across its 15 facilities, was founded in 1977 by the same family […]
ProMedica’s Angela Brandt is fairly upbeat about the year ahead, despite the fact that the not-for-profit health system’s senior care division is facing rough waters and headwinds continue to pound the industry as a whole. ProMedica Senior Care reported a $124.3 million loss during the first quarter of 2022, pointing to lagging occupancy recovery and […]
Building partnerships with leaders of different parts of the health care continuum will continue to be a big part of strengthening the industry’s business model, as getting recognition from other sectors builds credibility, along with referrals and business opportunities. That’s according to executives from Genesis HealthCare, ProMedica Senior Care and Principle LTC. Larger corporate organizations […]
When Melissa Powell first joined Genesis HealthCare back in November, she likened it to the “Wild West.” The skilled nursing operator had more than 5,000 open positions, ranging from frontline staff to leadership level jobs. Genesis was also in the early stages of its shift toward a market-focused model as part of its ongoing restructuring […]
Welltower Inc. (NYSE: WELL) continues to shrink its long-term care portfolio, selling seven Genesis HealthCare properties in the first quarter of this year. Overall, the senior care segment represented just 4.8% of Welltower’s total NOI in place at the end of 2021 — versus 10.1% at the end of 2020. The 530 basis point decline […]
While the calls for nursing home ownership reform tied to private equity (PE) have grown louder from the current administration and other federal figureheads, industry leaders say such endeavors are old hat — investors are already leaving the SNF sector in favor of home health and private-pay senior housing. That’s according to an article published […]
Capital providers dealing in the skilled nursing space are pushing back on the White House’s position on institutional capital, stressing the need for it in the sector. While institutional capital is critical to many of the key players in the space, some capital providers say newer owner-operators will have a hard time getting the necessary […]
Almost one year ago exactly, Brian Beckwith ended his tenure as CEO of Formation Capital and began to consider his next moves. Sheryl Marcet was also considering her future. At the time, Marcet was a managing director at Formation, and she had first worked with Beckwith when they were both at GE Capital. Beckwith and […]
Of all aspects of the current workforce crisis in skilled nursing, the role of staffing agencies arguably evokes the most reaction. It’s an issue that has sparked interest not only from long-term care and senior living groups like the American Health Care Association/National Center for Assisted Living (AHCA/NCAL) and LeadingAge, but members of Congress as […]
This year was another rollercoaster for the skilled nursing industry as operators – and truthfully the nation alike – went from the tail end of another covid surge, to the widespread availability of vaccines, then considerable optimism and a possible light at the end of the tunnel, back to another COVID-19 surge and as I’m […]
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