Following President Joe Biden’s decision to drop out of the 2024 presidential race, leaders in the nursing home space say there likely won’t be any change to the federal minimum staffing mandate or lawsuit given an ongoing strong connection with unions. Biden endorsed Vice President Kamala Harris to run in his place. On Monday, Harris […]
The nursing home industry, along with other settings in long-term care, is expected to be a central campaign focus for presidential candidates in future elections. One reason is growth of the older population just as the Medicare trust fund is projected to show a deficit starting around 2026 when the oldest of baby boomers will […]
The proposed federal staffing mandate is a potential “kill factor” for nursing home providers, while the rise of Medicare Advantage (MA) is a “major challenge” — and how well the sector responds to these threats will play a major part in shaping the future. This is the perspective of Phil Fogg Jr., CEO of Marquis […]
Past White House administrations – including those headed by Democratic presidents – have not tried to enact a federal nursing home staffing mandate, former Speaker of the House Paul Ryan observed on Tuesday. “Even the Obama administration didn’t do that,” Ryan commented, during a discussion with Direct Supply Founder and CEO Bob Hillis at the […]
Nursing home costs skyrocketed in July, up 2.4% compared to June, along with adult day services – it’s the biggest monthly increase seen since 1997, while overall consumer prices were up 0.2% month over month. That’s according to the latest Consumer Price Index (CPI) report from the Bureau of Labor Statistics. The increase may be […]
Downside risks may finally be fading with occupancy for skilled nursing facilities showing improvements in June. That’s the view according to BMO Capital Market analysts, who noted recent occupancy data put out by the Centers for Medicare & Medicaid Services (CMS). CMS’ data showed a monthly jump of 40 basis points in occupancy rates between […]
When consumers see that a skilled nursing facility has a low rating on the Five-Star Quality system, they might naturally assume that the SNF is of low quality – but some of these facilities actually are preferred referral partners for hospitals in their area, and their star ratings are suffering from their willingness to take […]
The Federal Reserve’s decision to raise interest rates again by 25 basis points on Wednesday will likely slow deal making in the nursing home sector, especially in the aftermath of the Silicon Valley Bank’s (SVB) closure last week and its impact on regional banks. Experts told Skilled Nursing News that it’s a good thing, however, […]
Nursing care facilities added 5,400 jobs in February on a month-over-month basis. That’s according to the U.S. Bureau of Labor Statistics jobs report issued March 10, which showed a slight uptick in the overall U.S. unemployment rate, which rose from 3.4% in January to 3.6% in February. “Today’s report shows the labor market remains strong […]
Last week, Cascadia Healthcare officially took over management of three facilities formerly operated by the Evangelical Lutheran Good Samaritan Society, with the remaining six buildings in the transitioning portfolio scheduled to follow suit in April and May. The transition process is going smoothly, with each building presenting a “microcosm of opportunity,” Cascadia President and CEO […]
Bed pricing for nursing homes remains astronomically high, despite a spate of economic factors that have dampened dealmaking, leading operators surprised and confused about the trend. Unfavorable interest rates, higher costs of care and market inflation have caused M&A activity to normalize, and yet bed prices haven’t budged. Bed prices averaged $97,000 per bed in […]
Sabra Health Care REIT (Nasdaq: SBRA) on Thursday announced about $185 million has been received in gross proceeds since Sept. 30, 2022, including through a “sizable portfolio” of skilled nursing assets that fetched $200,000 a bed. The previously disclosed sales were “almost entirely comprised of skilled nursing investments,” Sabra said in a statement. The $200,000-per […]
The gap between current skilled nursing occupancy and pre-pandemic occupancy is “99%” due to lack of staff, and addressing the sector’s workforce crisis is clearly the top priority for 2023. That’s according to Phil Fogg Jr., president and CEO of Marquis Companies and chairman of the American Health Care Association. Milwaukie, Oregon-based Marquis owns and […]
Lenders, operators, industry lobbying organizations and consumer advocates all agree that an expansion of skilled nursing financing programs through the Department of Housing and Urban Development (HUD) could be a game-changer in driving much-needed innovation. Building on suggestions from the National Academy of Sciences, Engineering, and Medicine (NASEM), the authors of a recent Health Affairs […]
Nursing care facilities added about 2,800 jobs in November 2022, as the health care sector overall saw payrolls increase by about 45,000 workers. Hiring in nursing care slowed down from October, when nursing homes added about 4,100 new workers. Job growth overall slowed in November, with nonfarm payrolls increasing by 263,000, compared with average growth […]
Loans and other types of financing through the Department of Housing and Urban Development (HUD) may be key to incentivizing operators to seek innovation, such as scaling the small home model in a meaningful way – but the program isn’t quite at that point yet. The National Academy of Sciences, Engineering, and Medicine (NASEM) report […]
The nursing home industry remains largely fragmented, evidenced by the fact that just under one-third of the sector is currently made up of single site providers. But that number is beginning to slowly decline — having fallen two percentage points over the course of the Covid-19 pandemic, according to NIC MAP Data, powered by NIC […]
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 […]
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 […]
By Austin Montgomery The National Investment Center for Seniors Housing & Care (NIC) has chosen a familiar face to succeed president and CEO Brian Jurutka – former board member and previous NIC chairperson Raymond Braun is set to take on the role immediately. Braun most recently served as dean of the Allen W. and Carol […]
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