Short-Staffed Missouri Nursing Homes Given Two-Year Window to Close, Reopen Due to Vaccine Mandate

With the lowest vaccination rate among nursing home staff in the country, currently at 56.71%, Missouri’s health department is looking to provide operators some flexibility should they see a mass staff exodus ahead of President Biden’s vaccine mandate. The emergency rule, published on Friday, is meant as a precaution that will allow skilled nursing and […]

Delta Variant Prompts Rent Relief for Avamere, Sabra CEO Says

Sabra Health Care REIT (Nasdaq: SBRA), in a Monday statement to shareholders, said it will use an $11.9 million letter of credit to fund rent for Avamere Family of Companies from September through November. Wilsonville, Ore.-based Avamere leases 27 skilled nursing facilities and one continuing care retirement community (CCRC) with Sabra. The portfolio made up […]

AHCA Demands HHS Release Remainder of the Provider Relief Fund for SNFs

The American Health Care Association and National Center for Assisted Living (AHCA/NCAL) are making another push for the federal government to release the remainder of the Provider Relief Fund (PRF) established by the CARES Act. This comes at the heels of the organization’s most recent survey, which revealed that only a quarter of nursing homes […]

SNF Operators — Including Omega Tenant — Strained By Delay in CARES Act Funds

Omega Healthcare Investors (NYSE: OHI) may provide summertime rent relief to one of its skilled nursing tenants, as the delay in federal financial relief is causing strains on operators. The Florida-based operator told the Maryland-based real estate investment trust (REIT) that it would need help with its June rent, roughly $2.5 million, according to a […]

SNF Occupancy Recovery Continues, But Pace Is Critical for REIT Rent Coverage

Though skilled nursing occupancy continues to tick upwards, the growth decelerated recently, which could have significant implications for the real estate investment trusts who are landlords to operators across the U.S., according to a June 6 note from BMO Capital Markets. The national data collected from nursing homes by the Centers for Medicare & Medicaid […]

PDPM Adjustments Loom Over Skilled Nursing Investors, But Impact Could Be Softer Than Previous Cuts

The federal government sent a shockwave through the post-acute and long-term care landscape earlier this month when it disclosed that the new Medicare payment model for nursing homes had increased total spending by 5% — counter to its goal of budget neutrality. But while officials mull the ways that the Patient-Driven Payment Model (PDPM) could […]

PDPM Adjustments, Smaller Medicare Raise Show CMS ‘Ready to Pull Back’ on COVID Aid to Nursing Homes

As the federal government’s approach toward nursing homes and COVID-19 continues to shift from emergency support to reflection and reform, analysts are increasingly warning that the coronavirus-era gravy train could soon come to an abrupt stop. In particular, the past week has brought three pieces of news that may signal trouble ahead for operators and […]

Home Health Giants Find Partners in Speeding Skilled Nursing Diversions Amid COVID ‘Fear Factor’

Home health operators aren’t the only players in post-acute and long-term care looking to capitalize on a weakened skilled nursing sector: As health systems and managed care insurers look to adapt their offerings to the post-COVID tastes of their patients, home health providers may find themselves with significant regulatory and payment tailwinds as they work […]

Fitch Upgrades Sabra Outlook Despite Specter of Permanent 30% Rent Cuts

Senior housing and care operators that had been struggling prior to the COVID-19 pandemic may need permanent rent cuts of 30% to survive in the long term, a top financial ratings agency noted — but even that hit is unlikely to hurt one of the top landlords in the sector. Fitch Ratings on Monday upgraded its […]

Slow Vaccine Rollout Prompts Skilled Nursing REIT Downgrades, But Stimulus Optimism Remains

Two investment firms provided opposite takes on the stocks of publicly traded real estate investment trusts (REITs) with skilled nursing portfolios, with Mizuho Securities USA downgrading two of the REITs and Jefferies upgrading the same two firms. The two REITs involved were Omega Healthcare Investors (NYSE: OHI) and Sabra Health Care REIT (Nasdaq: SBRA). “We […]

Sabra: Genesis, Signature Not Alone in COVID-19 Troubles, But Wider Write-Down Trend Unlikely

General improvements in access to testing and vital protective gear have put skilled nursing facilities in a better spot than the springtime, a top landlord in the space asserted Tuesday, but operators and investors shouldn’t necessarily expect complete adoption of a long-awaited vaccine when it hits the market. And although Sabra Health Care REIT (Nasdaq: […]

Sabra Joins Fellow REITs, Takes $14.3M Write-Off on Genesis and Signature Rent

Sabra Health Care REIT (Nasdaq: SBRA) this week became the latest landlord to change its accounting for nursing home tenants Genesis HealthCare (NYSE: GEN) and Signature HealthCARE, writing off $14.3 million of non-cash rent receivables associated with the operators. The real estate investment trust (REIT) cited concerns about Genesis and Signature’s operational futures in the […]