Pruitt: Funding for Private Rooms Top Challenge as Nursing Homes Look to ‘Learn from History’

The final report from the Coronavirus Commission for Safety and Quality in Nursing Homes contained plenty of ideas on how to keep residents and staff safer should COVID-19 resurge or if another pandemic hits the United States. While some of the onus falls on the federal government, nursing home operators must also raise the bar […]

Fitch: 30% Rent Cuts for Skilled Nursing Facilities May Be Necessary, But Not for All Operators

Major skilled nursing landlords are likely to institute rent reductions over the course of 2021 in order to help keep them afloat, according to Fitch Ratings — but the effect won’t be equally felt across all operators. In affirming twin BBB- ratings for Omega Healthcare Investors (NYSE: OHI) and National Health Investors (NYSE: NHI), Fitch […]

Sabra Mulls $14M Write-Off for Signature, Genesis After ‘Going Concern’ Warnings

Concerns about the future of skilled nursing operators Genesis HealthCare (NYSE: GEN) and Signature HealthCARE have spread to a second public landlord, though in this case, Sabra Health Care REIT (Nasdaq: SBRA) stopped short of taking definitive action just yet. Sabra late last week disclosed that the real estate investment trust (REIT) and its auditors […]

Genesis, Signature Raise ‘Going Concern’ Doubts with Omega, Prompting $140M Write-Down

Omega Healthcare Investors (NYSE: OHI) on Thursday announced that it will begin recording revenues associated with tenants Genesis HealthCare (NYSE: GEN) and Agemo Holdings LLC — the legal name for its portfolio of buildings operated by Signature HealthCARE — on a cash basis, citing concerns about the nursing home operators’ future. As a result, the […]

To Stay Ahead of Shifting Science and Regulations, Signature’s COVID-19 Testing Strategy Goes Digital

In the absence of a vaccine or proven treatment for COVID-19, testing will serve as the nursing home operator’s primary weapon against the spread of the virus for an indefinite period. Widespread baseline testing of nursing facilities was painfully slow to materialize, particularly during the early days of the crisis. But now that operators — […]

Spending $5 Million a Week on COVID-19, Signature HealthCARE Faces ‘Toughest Period in Our Company History’

Like many nursing home operators, Signature HealthCARE has seen its fair share of strain during the COVID-19 crisis, with skyrocketing costs prompting the provider to lay off 100 corporate employees earlier this month. But its CEO has indicated that the stress on the Louisville, Ky.-based company may just be starting. “We think we did it […]

PruittHealth, CareRite, Signature Represented on Federal Nursing Home Commission

The 25 members of a federal commission tasked with analyzing nursing home safety in the wake of COVID-19 were announced Friday, with leaders from operators PruittHealth, Signature HealthCARE, and CareRite among the selected stakeholders. Initially announced by President Trump at the end of April, the Coronavirus Commission for Safety and Quality in Nursing Homes will […]

Signature HealthCARE Lays Off 100 Corporate Employees, Blaming Lack of Medicaid Support Amid COVID-19

Nursing home operator Signature HealthCARE on Wednesday announced 100 layoffs at its corporate headquarters in Louisville, Ky., with leaders blaming the action on a lack of temporary payment support during the COVID-19 crisis. “We are at a point where difficult decisions have to be made on how to survive,” CEO Joseph Steier said in a […]

Multi-State Nursing Home Operators Navigate Conflicting COVID-19 Rules

Skilled nursing operators across the U.S. are grappling with the challenge of caring for patients most vulnerable to COVID-19 while staying on top of a variety of state and federal guidelines. To do that without getting overwhelmed, it’s critical to have all the various components of an operation working together — and for operators with […]

Rethink Podcast #24: Arif Nazir of Signature HealthCARE and AMDA

The 24th episode of our podcast, Rethink, is now available! As both the chief medical officer for Signature HealthCARE and president of AMDA, the Society for Post-Acute and Long-Term Care Medicine, Dr. Arif Nazir has a micro- and macro-level view on how skilled nursing facilities are fighting the novel coronavirus.Dr. Nazir sat down with SNN […]

Signature’s Chief Medical Officer: COVID-19 Crisis Will Usher in ‘New Era’ of Skilled Nursing, Post-Acute Care

As both the chief medical officer for Signature HealthCARE and president of AMDA, the Society for Post-Acute and Long-Term Care Medicine, Dr. Arif Nazir has a micro- and macro-level view on how skilled nursing facilities are fighting the coronavirus. And even in these early days of the crisis, Nazir believes that the sweeping emergency steps […]

After Successful Pilot at Signature, SNF Care-Planning Initiative to Expand with $3M Grant — and Eye on Reducing Hospitalizations

Advance care planning has emerged as a key win-win for nursing home operators and their residents, improving quality of life while also helping providers avoid unnecessary and costly rehospitalizations. Backed by a multi-million-dollar grant and adopted by some major players in the skilled nursing space, a program designed to improve advance care planning opportunities — […]

Why Signature Believes 18 Months of PDPM Prep Will Pay Off

The first round of earnings calls these past two weeks revealed few firm outcomes related to the new Medicare payment model for nursing homes, but one provider was identified as potentially ahead of the curve: Signature HealthCARE. Omega Healthcare Investors (NYSE: OHI) chief investment officer Robert Stephenson on Wednesday praised Signature, one of its tenants, […]

Omega Looks to Cut Daybreak Skilled Nursing Exposure After Performance ‘Deteriorated Further’

Despite showing long-term optimism about Daybreak Venture, executives at Omega Healthcare Investors (NYSE: OHI) on Wednesday revealed an ongoing plan to replace the struggling skilled nursing operator at many of its facilities in Texas. The two parties have mutually agreed to work toward a deal that would “selectively downsize” Daybreak’s footprint across the Lone Star […]

Proposed Mandatory Payment Model for Dialysis Could Have Skilled Nursing Promise

The federal government on Wednesday unveiled a new proposed payment model for certain kidney-related conditions, and several providers in the space say it could have serious potential for skilled nursing operators. Under the proposed End-Stage Renal Disease (ESRD) Treatment Choices (ETC) model, Medicare would expand coverage of care for kidney diseases and offer financial incentives […]

HHS, DOJ Tout $2.3B in Fraud Recoveries — Including $47M from Skilled Nursing Facilities

The federal government recovered $2.3 billion in allegedly fraudulent health care reimbursements in fiscal 2018, with several big-dollar skilled nursing settlements contributing to that total. The Department of Health and Human Services (HHS) and the Department of Justice (DOJ) last week released a joint report on their health care fraud activities for the previous fiscal […]

REIT Resurgence Could Boost Skilled Nursing M&A Despite Near-Term Stress

The recent bullish performance of publicly traded real estate investment trusts (REITs) could have a virtuous cycle effect in the space, potentially boosting mergers-and-acquisitions activity in the skilled nursing and broader health care industries. That’s the thesis of Alex Pettee and Hoya Capital Real Estate, a Connecticut-based investment advisory firm that on Monday published a […]

PDPM 101: What Skilled Nursing Providers Need to Know Now

With a new Medicare payment model for skilled nursing facilities just months away, operators who haven’t started planning for the changes are already months behind. Skilled Nursing News has been reporting on the new Patient-Driven Payment Model (PDPM) since the day it was finalized last July 31, and we’ve spent those eight months speaking to […]