The costs of long-term care in every setting, including nursing homes, is considered out of reach for most seniors, averaging more than $100 per day nationwide. This is coupled with the fact that the majority of older adults with very low incomes will need such services and have the fewest resources to pay for them. […]
National Investment Center for Seniors Housing & Care
As Medicare Advantage continues to penetrate the nursing home market, leaders say that MA plans are depressing margins amid higher costs to run operations. This might lead some operators to contemplate closing, while others will be wiser to hire staff in designated roles to help them negotiate better rates – and exclusions – for managed […]
While the ever-present staffing shortages have continued to challenge operators across the industry, some indications may show a “glimmer of relief” as the most severe workforce woes could be behind the industry. Just 9% of senior care operators reported severe staffing shortages at their organization — down from 25% of respondents who reported the same […]
As Covenant Care shakes up its leadership team from top to bottom, its new CEO Nathan Ure is honing in on the skilled nursing operator’s clinical acumen. Taking a page from what is being done both in the state of California and what’s being requested by the Centers for Medicare & Medicaid Services, Ure believes […]
Lenders in the skilled nursing space are increasingly more selective with their financing, adopting stricter underwriting standards while regulatory uncertainties and reimbursement changes leave investors more reserved. There is also a more defined shift toward a buyers’ market as well, as more transactions come back across the sector, according to analysts in the space. A […]
Many investors have not shied away from the skilled nursing industry in spite of the ongoing labor shortages, rising costs and looming federal regulations consuming operators — and they don’t appear to be doing so anytime soon. Private buyers have continued to buy up the overwhelming majority of available assets, closing roughly $1 billion in […]
As Trilogy Health Services has grown from two facilities to 127 since Leigh Ann Barney came on board, the senior care company has continued to scale its business by being “strategically opportunistic.” What that means, according to Barney, is that Trilogy has acquired or built buildings by following the organization’s core tenants: Offering care across […]
Covenant Care has tapped Nathan Ure as its next CEO. He joined the Covenant Care team in June after spending nearly eight years in executive leadership roles at Sun Mar Healthcare. Other career achievements include founding Cambridge Healthcare and being an early equity partner at the Ensign Group, according to a LinkedIn post announcing the appointment. […]
Skilled nursing occupancy declined slightly, reaching 77.3% at the end of June, after seemingly positive momentum over the last several months. Prior to the nine basis point decline seen in June, the sector saw occupancy pick up 522 basis points since its low point in January 2021, according to data from the NIC MAP Data […]
As the Biden administration continues to set its sights on nursing home ownership transparency, most recently through the unveiling of a new database, two members of Congress are trying to take it one step further. U.S. Rep. Jan Schakowsky of Illinois and Rep. Mark Takano of California last week introduced the Linking Investors and Nursing […]
If there’s one financial backing source that’s become a favorite among nursing home owners it’s U.S. Department of Housing and Urban Development (HUD) funding. Even still, it may come with some limitations. HUD loans can be used to purchase, build, refinance or remodel nursing homes, among other health care facilities, and their utilization in the […]
Hiring in the health care field continues to grow as employers in the sector saw an estimated 56,700 more jobs in the month of June. Nursing care facilities specifically added 5,400 workers last month, according to Bureau of Labor Statistics (BLS) data, but the industry still employs more than 200,000 fewer workers compared to pre-Covid […]
With interest rates and inflation rising and prices up 8.6% from a year ago — the fastest increase since 1981 — there seems to be a growing fear that a recession may be on its way. In fact, inflationary concerns continue to erode consumer sentiment, according to the University of Michigan Surveys of Consumers, as […]
Ongoing staffing shortages and the lingering effects of the Covid-19 pandemic hampered skilled nursing census recovery in 2021. Occupancy during that time frame was down 11.2 percentage points compared to pre-pandemic levels in 2019. That’s according to the NIC MAP Vision skilled nursing annual data report, which includes metrics calculated based on a 12-month rolling […]
The Centers for Medicare & Medicaid Services temporary nurse aide waiver will come to an end early next month, leaving nursing homes just four months from the June 7 date to get thousands of temporary workers trained and certified — or risk losing them. TNAs hired after June 7 will have four months from their […]
As the White House blasts the role private equity and real estate investment trusts (REITs) play in the nursing home space, some industry insiders believe that the administration is confused about how ownership actually works and where problems truly lie. David Reis, CEO of Senior Care Development, described “three players at the table,” and said […]
As the White House looks to hold nursing homes more accountable for the care they provide, signaling out private equity ownership as part of the problem, the Government Accountability Office is reportedly expected to release a report in the fall detailing its ongoing investigation into nursing home ownership. The investigation, in part, surrounds how much […]
At a time when more than a quarter of nursing facilities are reporting at least one staffing shortage, skilled nursing operators now more than ever have to find creative ways to establish career paths for entry-level positions that are often seen as “dead end jobs.” Dr. Jeff Farber, New Jewish Home president and CEO, worries […]
Occupancy recovery is picking up for the nursing home sector after a slight fall to begin 2022, according to a new data analysis from the data service affiliated with the National Investment Center for Seniors Housing & Care (NIC). Skilled nursing occupancy reached 77.6% in the first quarter of 2022, according to a NIC MAP […]
More than two years from the early days of the COVID-19 pandemic, the senior care labor market remains in a state of disruption. The industry has yet to fully recover the jobs lost since early 2020, but some in the space are further along than others. The skilled nursing industry remains 15% below the level […]
Subscribe
Receive industry updates and breaking news from SNN.