Just one day after the new Medicare payment model for nursing homes took effect, providers throughout the industry have begun showing signs of changing therapy strategies — and one of the nation’s top operators confirmed the layoff of about 585 rehab employees. A spokesperson for Genesis HealthCare (NYSE: GEN) confirmed to SNN that the company […]
Lawmakers in the state of Connecticut have targeted nine facilities for major Medicaid cuts due to low occupancy, raising concerns about access issues from operators and employees alike — and highlighting the occasionally paradoxical relationship between skilled nursing usage and funding. The nine properties face a total of $6 million in lost Medicaid reimbursements, the […]
Genesis HealthCare (NYSE: GEN) reported improvement in its 2019 second-quarter financial results, and CEO George Hager is optimistic about the second half of the year — in part because of the skilled nursing operator’s participation in the Medicare Shared Savings Program (MSSP) as an accountable care organization (ACO). The skilled nursing giant, which operates about […]
Skilled nursing providers, seeking more control over their own destiny and the premium dollar, have been driving the growth of a specific subtype of Medicare Advantage plan designed for the care of patients in the institutional setting. But Jason Feuerman, senior vice president for strategic development and managed care at nationwide operator Genesis HealthCare (NYSE: […]
In an unusual alliance, the Service Employees International Union (SEIU) District 1199 joined with Genesis HealthCare (NYSE: GEN) administrators in Connecticut on Thursday to stave off the closure of several skilled nursing facilities in the state due to low occupancy. Under a provision in Connecticut’s biennial budget, nursing homes that have an occupancy rate below […]
The siphoning of residents from skilled nursing facilities into the home health space remains a troubling trend for institutional operators, and an executive at one of the nation’s largest health systems sees nothing but acceleration ahead. “There’s almost nothing that won’t eventually move to the home,” Scott Powder, chief strategy officer of Advocate Aurora Health, […]
The skilled nursing industry has — with good reason — thrown much of its energy and focus onto the challenges of the Medicare reimbursement overhaul taking effect on October 1 of this year. But according to one prominent industry leader, the challenges of Medicaid pose a far greater threat to providers — particularly as the […]
Once the new Medicare payment model for nursing homes takes effect this fall, skilled nursing giant Genesis HealthCare (NYSE: GEN) expects to see significant expense savings — while also changing the way it negotiates therapy contracts with its third-party clients. The Kennett Square, Pa.-based operator projects that the expanded opportunity for group and concurrent therapy, […]
Skilled nursing utilization and occupancy have been on the decline in recent years, as both payers and consumers migrate to home health and other community care options for cost and preference reasons. But as low Medicaid reimbursements force operators to scale back their long-term services or shut their doors entirely, available beds for residents who […]
Genesis HealthCare (NYSE: GEN) has seen stabilizing occupancy and length of stay in recent quarters, positive trends that its leaders on Wednesday attributed to an unlikely source: long-term care residents covered under Medicaid. “We’re very happy to bring on patients that need our services that have long-term care needs, and we think that that’s the […]
Major landlords have taken steps in recent years to reduce their exposure to Genesis HealthCare (NYSE: GEN) and skilled nursing properties more broadly — and now a leading national provider is looking to return the favor. The Kennett Square, Pa.-based Genesis is actively searching out more real estate acquisition opportunities after pulling off a 15-building, […]
Ventas Inc. (NYSE: VTR) on Friday announced an extension of its lease arrangement with Genesis HealthCare (NYSE: GEN) — a move that intrigued analysts given other landlords’ moves away from the operator. The real estate investment trust (REIT) granted Genesis five more years under its existing rent and escalator terms, with a few landlord-friendly twists: […]
The recent bullish performance of publicly traded real estate investment trusts (REITs) could have a virtuous cycle effect in the space, potentially boosting mergers-and-acquisitions activity in the skilled nursing and broader health care industries. That’s the thesis of Alex Pettee and Hoya Capital Real Estate, a Connecticut-based investment advisory firm that on Monday published a […]
Long-term care deals dominated the health care mergers-and-acquisitions landscape in February, clocking in at 32 transactions, according to a Friday report from Bloomberg Law’s transactions advisory board. That number is double the next-closest sector, health care information technology and software, which racked up 16 deals for the month, according to the list compiled for Bloomberg […]
Genesis HealthCare (NYSE: GEN) struggled overall in 2018, but managed to cut its net loss in half from the year before — and executives described the previous 12 months as a “pivotal year” for the beleaguered skilled nursing provider. For the fourth quarter of 2018, Genesis reported a net loss of $68.95 million, or 67 […]
Skilled nursing operators saw static occupancy between the third and fourth quarters of 2018 — a notable, if moderate, bit of good news for an industry that had seen four straight years of declines. The nation’s nursing homes were approximately 82.4% full during the fourth quarter of last year, according to the most recent set […]
Large-scale efforts to shift post-acute residents from skilled nursing facilities to the home health space have largely “run their course,” Genesis HealthCare (NYSE: GEN) CEO George Hager said Tuesday, while also predicting serious cost savings under the new Medicare payment model. Though industry leaders have long worried about payers’ growing preference for the lower-cost home […]
Nimble, regional operators have been the belles of the ball in skilled nursing over the last few years, but the leader of the nation’s largest chain says he wouldn’t trade his scale for anything. “The advantages of my scale well outweigh the negatives of my scale,” George Hager, CEO of Genesis HealthCare (NYSE: GEN), told […]
After a rollicking 18 months that saw Sabra Health Care REIT (Nasdaq: SBRA) substantially restructure its portfolio, the company’s CEO is looking forward to some peace and quiet over the course of 2019 — but not before swiping back at another leader’s assertion that the real estate investment trust (REIT) model has put a strain […]
The property associated with the Sanatoga Center skilled nursing and rehabilitation facility in Sanatoga, Penn., sold for more than $20.9 million, The Santoga Post reported Wednesday. The deal closed on Jan. 28. The property was previously owned by DELM Nursing Inc. of Kennett Square, Pa.; it was sold to a company called Santoga RE, according […]
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