Post-Acute Facilities Feel Short-Term COVID Pain, But May Have the Easiest Path Back

Prior to the start of the COVID-19 pandemic, skilled nursing facilities that specialize in post-acute care were a rare target of true investor excitement in the greater institutional senior care continuum. With a shiny new Medicare payment model that gave providers more financial credit for the high-acuity services they’d increasingly added over the years, and […]

Sabra Sells Pair of Genesis Skilled Nursing Facilities; SLIB Pulls Off Sale Despite COVID-19 Market Pressures

Sabra Health Care REIT (Nasdaq: SBRA) late last week announced the sale of two facilities operated by publicly traded skilled nursing giant Genesis HealthCare (NYSE: GEN). The Irvine, Calif.-based real estate investment trust (REIT) sold the properties, both located in Montana, to an undisclosed buyer for a total price of $14.4 million — which included […]

Fitch: Skilled Nursing REITs Can Withstand COVID-19 Crisis — To a Point

Most of the real estate investment trusts (REITs) with holdings in skilled nursing and senior housing facilities can weather the financial strains caused by COVID-19, a major credit rating agency affirmed this week — but only if current trends hold. Various REITs have responded to the pressures of the coronavirus pandemic by taking steps to […]

REIT Stocks Fall Again After Reports of New Nursing Home Coronavirus Case

Another skilled nursing facility in the state of Washington has reported an outbreak of COVID-19, the disease caused by the novel coronavirus that is sweeping the globe — resulting in major declines in the stock prices of several real estate investment trusts (REITs) with holdings in the skilled nursing and senior housing sectors. That facility, […]

Matros: ‘We All Knew PDPM Wasn’t Going to Be Revenue-Neutral,’ Doesn’t Expect CMS Clawback

Sabra Health Care REIT Inc. (Nasdaq: SBRA) is optimistic about how the new Medicare reimbursement for skilled nursing facilities will play out among its operators – even if the new Patient-Driven Payment Model (PDPM) doesn’t quite have the results the federal government expected. Specifically, the Irvine, Calif.-based real estate investment trust (REIT) is seeing PDPM […]

Behavioral Health Providers Plot Conversions of Former Nursing Homes Across the Country

As 2020 begins, several mental health providers have pounced on former skilled nursing facilities, providing some concrete evidence of a trend toward repurposing post-acute real estate into behavioral health facilities. In recent years, a variety of industry-watchers have floated the idea of converting unused skilled nursing assets into behavioral health sites, including treatment centers for […]

Sabra Installs Ignite as Operator of Three Oklahoma Skilled Nursing Facilities

Ignite Medical Resorts, an Illinois-based operator of post-acute care facilities, continued its expansion push this week in a new partnership with Sabra Health Care REIT (Nasdaq: SBRA). Ignite formally took over management of three Sabra-owned properties in Oklahoma City, Bartlesville, and Norman, Okla. on New Year’s Day, the provider announced Thursday. The previous operator, Vision […]

Judge Confirms Senior Care Centers’ Plan of Post-Bankruptcy Reorganization

A bankruptcy court judge formally signed off on Senior Care Centers’ plan of reorganization, enabling the beleaguered skilled nursing operator to continue operations with a fraction of the facilities it held at the time it entered Chapter 11 bankruptcy in December of last year. U.S. Bankruptcy Judge Stacey G.C. Jernigan officially confirmed the plan on […]

Sabra CEO Matros Has ‘No Sympathy’ for Third-Party Therapy Companies Amid Switch to PDPM

The new Medicare payment model for nursing homes has brought significant upheaval around therapy provision — an outcome that one prominent CEO in the space says therapy companies should have seen coming sooner. Given all of the warning signs from Washington and Baltimore — dating back to when the federal government was planning on implementing […]

Sabra Eyes Repurposing Skilled Nursing Facilities as Part of Addiction, Behavioral Expansion

Sabra Health Care REIT (Nasdaq: SBRA) on Thursday announced its impending entrance into the growing addiction treatment and behavioral health marketplace, with a specific eye toward potentially repurposing skilled nursing facilities for the task. “There aren’t very many other uses for skilled nursing facilities,” Sabra CEO Rick Matros said on his company’s second-quarter 2019 earnings […]

PDPM Countdown: ‘We Are All Crossing Our Fingers and Knocking on Wood’

With the Medicare Part A reimbursement overhaul taking effect in just a few months, skilled nursing providers across the country are in countdown mode. But the clock is moving at different paces for different providers, several experts said. Some SNFs began their analysis and preparations months ago; others are barely getting started. That’s led to […]

Providers Turn to Behavioral Health to Boost Sagging Skilled Nursing Revenue

Depending on the state they’re in, skilled nursing facilities could jolt flagging finances by adding a behavioral health component to their lineup of services. But they have to proceed carefully. Such services can bolster reimbursement significantly, while also creating additional pressure on hiring, staffing, and programming, according to providers presenting at the LTC 100 conference […]