“Wild” and “crazy” are adjectives that describe aspects of the skilled nursing business at the moment, according to Health Dimensions Group (HDG) CEO Erin Shvetzoff Hennessey. Labor is “just wild,” she told Skilled Nursing News during an interview at the recent National Investment Center for Seniors Housing & Care (NIC) conference in Washington, D.C. And […]
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. […]
As the Biden administration continues down its path toward comprehensive nursing home reform, owners and investors in the space have kept a close ear to the ground when it comes to federal leaders’ increasingly loud opposition toward certain for-profit models — perhaps for good reason. Congresswoman Jan Schakowsky of Illinois and Congressman Mark Takano of […]
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 […]
New nursing home construction loan closings increased sixfold during the first quarter of the year compared to the same time period in 2021. The change marks the sector’s strongest quarter for such loans. The rate of change is partially explained by a “very weak” fourth financial quarter in 2021, according to the National Investment for […]
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 […]
Policymakers would better serve the nursing home industry if they understood where, and how, capital markets can most effectively support the sector – namely how private funding plays a role in helping support a challenging operating environment. A deeper understanding of the SNF capital market structure will help legislators develop policies that better align with […]
Skilled nursing leadership believes the sector won’t be receiving any more significant funding support from the federal government moving ahead, despite a dragging occupancy rebound and historic labor shortage. The SNF market will become increasingly more financially stressed as operators struggle to pay back Medicare advances and payroll tax deferrals as well, according to Brian […]
Skilled nursing has seen its highest occupancy level since April 2020, increasing 94 basis points to end February at 76.7%. That’s according to NIC MAP Data Service, powered by NIC MAP Vision. Authors of the monthly report suggest the demand for skilled nursing properties is recovering despite challenges encountered by staffing shortages and the delta […]
Investors have a continued interest in the skilled nursing space, despite increased costs associated with staffing challenges and Covid expenses at this point in the pandemic. That’s based on data collected by commercial real estate services company JLL for its latest seniors housing & care investor survey and trends outlook report published on Thursday. Investor […]
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 […]
Persistent skilled nursing headwinds – namely the ongoing labor crisis – have largely marred occupancy gains for the industry since census first took a dive at the start of the pandemic. Additionally, high levels of turnover among skilled nursing positions across the board is resulting in the need for increased wages and bonuses, among other […]
Bank and finance company executives have found skilled nursing facilities (SNFs) to not only be increasingly changing hands in the last year, but are also changing from a tax-exempt, not-for-profit status to a for-profit facility. That’s according to commentary collected during an executive survey published by speciality investment bank Ziegler and the National Investment Center […]
Industry leaders, including nursing home executives, believe margins will increase between 1% and 5% in the next six months, thanks to an easing pandemic and occupancy recovery. Only 5% of long-term care leaders expect their margins to decrease during that time, according to the latest National Investment Center for Seniors Housing & Care (NIC) executive […]
Skilled nursing workers are in the midst of a mass exodus from the profession, and not even unprecedented wage increases can compensate for the concerns of the 238,000 caregivers who have left the industry since the start of the COVID-19 pandemic. The combination of workload, environment, culture and the physical and emotional strain exacerbated an […]
As the nursing home industry tried to digest a sweeping set of industry reforms proposed by the Biden administration on Monday, a Capitol Hill lawmaker got in on the action by proposing a bill to force private equity firms to disclose their ownership in facilities. Amid all these developments, one thing has become evident: the […]
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