Average occupancy for the nursing home sector grew slightly to 80.5% towards year-end, posting a 10-basis-point increase month over month. Over the course of last year, occupancy levels showed a recovery back to pre-pandemic levels. Moreover, according to Stephens Inc.’s latest figures updated through Dec. 1 and released Wednesday, average occupancy for two large sector […]
PACS Group
Despite the sector continuing to grapple with staffing shortages, rising operational costs, and regulatory uncertainty, emerging trends have skilled nursing leaders gearing up for a positive 2025, with fewer challenges and more opportunities on the horizon. As we look ahead, several key trends are expected to shape the sector from regulatory shifts to financial turbulence, […]
It’s no surprise that the Biden administration’s minimum staffing mandate was the source of Skilled Nursing News’ most-read story of 2024. From the proposal stage to its final form, our stories on the staffing mandate covered all aspects of its requirements as well as the legal and legislative challenges against it. Our stories about the […]
The PACS Group closed on a 11-facility skilled nursing portfolio in Tennessee for an undisclosed amount, while CFG closed out five deals totaling $54 million in the last two months. PACS Group Closes on Tennessee Portfolio Sale The PACS Group (NYSE: PACS) on Dec. 1 closed on the operations of 11 skilled nursing facilities in […]
CareTrust REIT (NYSE: CTRE) has acquired a 46-facility skilled nursing and senior housing portfolio for $97 million, the San Clemente, California-based real estate investment trust announced Monday morning. The portfolio is located in the Midwest and is being acquired “in coordination with the bankruptcy and sale of all assets of the debtor/seller,” according to CareTrust’s […]
Ensign Group (Nasdaq: ENSG) executives offered an optimistic outlook for the sector and the company’s future, driven by operational improvements, disciplined acquisitions, and the potential easing of regulations and steady reimbursement rates under President-elect Donald Trump, with the minimum staffing mandate likely never seeing the light of day. “Our overall take on [the incoming administration] […]
Nursing home operator PACS Group (NYSE: PACS) delayed the release of its third-quarter earnings, providing only preliminary results on Wednesday as it carries out an internal audit and cooperates with a federal investigation into its referral and reimbursement practices. Originally scheduled for Nov. 7 after market close, PACS now expects to disclose its financial results […]
Leaders with CareTrust REIT (NYSE: CTRE) added more detail surrounding the company’s latest investments, including the acquisition of 31 skilled nursing facilities in Tennessee and Alabama for $500 million, along with another transaction yet to close for $57 million involving four skilled nursing facilities located in the Northeast. American Health Partners was announced as the […]
Staffing shortages and increased acuity of patients are playing a big role in referral placement, along with preferences and prerequisites of referral sources. This is causing nursing homes and hospitals in high-demand areas to get creative with in-house offerings and hospital partnerships, as they are still experiencing bottlenecks in the referral process. At the same […]
Strawberry Fields REIT completed two separate acquisitions totaling $19.25 million of four Skilled Nursing Facilities (SNF) located in Tennessee and Texas. The acquisition of the Texas facilities for $15.25 million included a 75-bed SNF located in Hondo and 179-bed SNF located in Kerrville, the real estate investment trust (REIT) said in a press release Tuesday. […]
Strong leadership translates into a stable workforce, which is one reason why executives across the nursing home sector are recognizing the urgent need for support for Administrator-in-Training (AIT) programs. High turnover among leadership is causing massive ripple effects in just about every area of the sector. But bolstering the administrator workforce has tremendous challenges. For […]
Staffing is an ongoing concern at nursing homes, but the fires are finally calming down. As Skilled Nursing News continues to monitor shifts in staffing challenges – especially with the federal staffing mandate in place – our focus has become more vigilant. Thus, we wanted to take a step back and provide our readers with […]
Quantity, by virtue of an aggressive growth strategy at PACS Group (NYSE: PACS), has not impacted quality at its facilities, executives said. In fact the opposite has been true, and the resulting quality gains are also one of the reasons for the company’s strong second quarter. The company’s model is based on successfully turning around […]
CareTrust REIT (NYSE: CTRE) has been busy with its investment pipeline this week, announcing $378 million in new investments after June 30, and on top of $268 million in investments during the second quarter. Chief Investment Officer James Callister said competition for skilled nursing acquisitions is high as oncoming improvement and post-COVID performance has resulted […]
Behind the success of PACS Group’s (NYSE: PACS) high-growth model is the nursing home giant’s principle of entrusting its early career administrators with greater autonomy. In rejecting the traditional path, PACS allows administrators in training the opportunity to step into their roles with greater independence much earlier. Enabling new leaders to make crucial decisions and […]
Occupancy shifts appear to be happening across the largest nursing home operators, with the Ensign Group (Nasdaq: ENSG) seeing facility occupancy fall as other leading sector players showed gains while overall sector occupancy levels remained steady. Ensign’s occupancy levels dropped to 78.5%, posting a loss of 40 basis points. Meanwhile, PACS Group (NYSE: PACS) saw […]
PACS Group (NYSE: PACS) plans to acquire the operations of 53 skilled nursing facilities as well as assisted and independent living facilities located across eight states, including five new markets for the company. The facilities in the pending deal are currently operated by family-owned Prestige and comprise 2,511 skilled nursing beds and 1,334 assisted living […]
Scaling up by empowering regional operators has long been a successful strategy for nursing home giant PACS Group (NYSE: PACS), but this growth hasn’t come at the expense of losing its identity nor by over-leveraging itself using high-interest debt, according to CEO Jason Murray. For PACS, which debuted on Wall Street in April, its steady […]
During its inaugural earnings call following an April debut on Wall Street, executives for PACS Group (NYSE: PACS) projected a strong year of growth ahead amid a robust pipeline as they touted the success of their company’s localized business model – one that has enabled it to successfully transform scores of struggling facilities into high […]
If there’s no additional funding for the minimum staffing rule, well over 5% of existing facilities will close, depending on how successfully operators can pivot to meet the standard. The rates of closure may even reach 10% to 15%, depending on the market, cautioned sector leaders attending the LTC100 conference this week. Steve Nee, CEO […]
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