North Shore Completes 22-Building Atrium Deal; Dwight Closes $50.8M Financing in N.J.

North Shore Healthcare officially completed its acquisition of 21 skilled nursing and assisted living facilities formerly operated by Atrium Health & Senior Living. The Glendale, Wis.-based North Shore now has 71 SNFs and assisted living communities in Wisconsin, Michigan, Minnesota, and North Dakota, according to the operator’s December 1 announcement. Atrium had 33 SNFs and […]

Bottom Line: How One CFO’s Retail, Hospitality Background Led to Skilled Nursing Turnaround Success

Robert Specht had spent years at the financial helm of companies in a variety of spaces, but he was a post-acute and long-term care newcomer when he accepted a crash course in the business: a consulting position for a 33-building senior housing and care chain in receivership. Working with Health Dimensions Group, the provider and […]

Movers & Shakers: New CFOs for Health Dimensions Group, NHI

A pair of companies with presences in the skilled nursing space on Tuesday announced new chief financial officers — with a promotion at a real estate investment trust (REIT) and a retail-industry veteran for a Midwest operator. The board of National Health Investors (NYSE: NHI) promoted John Spaid to the CFO spot effective this past […]

As Medicare Advantage Plans Slowly Migrate from RUG to PDPM, Providers Must Avoid Lost Payments

Most Medicare Advantage (MA) plans that used the old Medicare system for calculating reimbursement for skilled nursing facilities are moving to the new system along with the federal government — at least if the early weeks of the Patient-Driven Payment Model (PDPM) are anything to go by. That said, details on contracts and changes are […]

‘CMS is Watching’: Changing Therapy Patterns Raise Concerns About Skilled Nursing Audits, Care Quality

The first week of the new Medicare payment model for nursing homes has brought stories of rapidly shifting therapy patterns among some providers, and voices from the consulting and advocacy worlds are warning that any sudden movements could cause adverse effects — both immediately and down the road. The advent of the Patient-Driven Payment Model […]

Skilled Nursing Operator Sees Financial Upside, Potential for Innovation in Assisted Living

Skilled nursing and senior living can seem worlds apart, with the former associated with health care and the latter with hotel-style touches like bistro dining and concierge serves. But one operator of skilled nursing facilities sees moving into assisted living as the best way to prepare for the future of both models. The Minneapolis-based Health […]

PDPM Could Create Risk-Sharing Opportunities, Headaches for Skilled Nursing

Risk-sharing has loomed large in health care reform efforts over the last decade, and the new Medicare payment model for skilled nursing facilities could open up additional avenues for operators to take control — along with pointed questions from partners along the spectrum. The Patient-Driven Payment Model (PDPM) marks a step toward a long-teased site-neutral […]

Skilled Nursing Dealmakers Could Be Overlooking PDPM’s Potential for ‘Biggest Year’ in Decades

The market will still need to determine whether the new Medicare reimbursement structure for nursing homes will be a net positive or negative for the industry, but at least one insider says buyers and sellers in the space aren’t optimistic enough. Current prices for skilled nursing facilities don’t typically account for the potential of cost […]

As PDPM Nears, Providers Can’t Rely on Sunny CMS Projections to Succeed

As the implementation date draws nearer for the overhaul of the Medicare reimbursement system, some providers have found comfort in government projections about their revenue under the new model. But that comfort might be misplaced, according to a webinar held Wednesday by Minneapolis.-based consulting and management firm Health Dimensions Group. The Centers for Medicare & […]

Four Atrium Skilled Nursing Facilities in Receivership Close in Wisconsin

Four skilled nursing facilities formerly operated by Atrium Health and Senior Living have closed. The four properties have been under the receivership of Michael Polsky since September, when a court approved the transfer of 33 SNFs and assisted living properties amid financial issues. “Our main focus at this time is to stabilize the company and […]

CMS Spells Out Expanded Skilled Nursing Waiver Requirements for ACOs

The Centers for Medicare & Medicaid Services (CMS) provided details this week on what accountable care organizations (ACOs) have to do to receive waivers of the three-day inpatient stay requirement for skilled nursing care in updated guidance. ACOs consist of hospitals, physicians, and other health care providers that band together to provide care to Medicare […]

Adapt or Shut Down: How Smaller, Rural SNFs Can Ride Out the Storm

While rural skilled nursing facilities are facing the same reimbursement and regulatory challenges as their urban peers, they’re going to have to take some extra steps to survive the pressures. For one thing, rural SNFs are often dealing with a critical access hospital (CAH), defined among other criteria as being located more than 35 miles […]

ACO Announcements Add to Existing Skilled Nursing Pressures

Value-based arrangements generate much of their savings by shifting spending away from the post-acute setting, according to recent government announcements. That ups the already-high pressure on skilled nursing facilities to lower patient length of stay while maintaining quality of care. To cope, they’ll have to make themselves invaluable to both referral sources and payers who […]