For-profit nursing home owners such as private equity firms and real estate investment trusts are under fire from the federal government — but current trends suggest that not-for-profit ownership alone is not a viable alternative to meet the needs of the United States’ aging population. Freestanding senior housing and care not-for-profits (NFPs) are closing altogether, […]
Dialyze Direct, already the nation’s leading provider of hemodialysis services in skilled nursing facilities, shows no signs of slowing as it’s poised to enter states in 2022. The national provider now in 13 states and 130 SNFs across the country, announced this week that it acquired Renew Dialysis, a regional provider of on-site dialysis with […]
As Medicare Advantage enrollment continues to climb and operators look for a seat at the table, ProMedica Senior Care President Angela Brandt believes now is the time to recognize the role long-term care facilities can play in value-based payment. “We all have to get comfortable with where we add value for the health care continuum […]
Randy Oostra, the president and CEO of ProMedica Health System, is well situated to see every angle of the unfolding COVID-19 pandemic in both the acute and pos-acute fields. The Toledo, Ohio-based ProMedica acquired the operations of HCR ManorCare in 2018 – which puts ProMedica in a unique position during a pandemic that is attacking […]
The structure and finances of private equity investors in the skilled nursing space have come under the federal microscope, with two U.S. senators and a U.S. representative demanding answers from four major firms about their investment in nursing homes. Presidential hopeful Sen. Elizabeth Warren, along with Sen. Sherrod Brown and Rep. Mark Pocan, sent strongly-worded […]
The influx of cash into the nursing home world from outside investors such as private equity firms came under fire during testimony in a hearing of the House Ways and Means Committee on Thursday. The hearing focused on the costs — both financial and social — of caring for elderly Americans, with testimony from caregivers, […]
Skilled nursing facilities will become more financially stable under the new system for Medicare reimbursement – which is a good sign for their landlords, according to Moody’s. Specifically, the stabilized cash flows under the Patient-Driven Payment Model (PDPM) are set to improve real estate investment trusts’ (REIT) credit standing, allowing more investments in this sector, […]
The skilled nursing world has seen its share of bankruptcies over the last few years, and this past week a vendor with a heavy concentration in the space blamed the industry’s woes for its own filing. Joerns, a private-equity owned company that makes medical equipment, began Chapter 11 bankruptcy proceedings late last month, citing post-acute […]
Non-profit hospital operator ProMedica announced its first set of annual financial data after acquiring skilled nursing giant HCR ManorCare last year, and the early results weren’t positive. The Toledo, Ohio-based firm reported $70 million in losses for fiscal 2018, according to an unaudited financial report for bondholders, despite a major revenue gain from absorbing approximately […]
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