Recent collaboration between Signature HealthCARE and Genesis HealthCare during the COVID-19 pandemic revealed that industry leaders should look to establish formal networks and build on pre-existing programs to facilitate and encourage collaboration across organizations. The need for interprofessional collaborations across organizations is not new but has only intensified since the pandemic and the collaboration between […]
Signature HealthCARE
Operators continue to face liquidity and workforce shortage issues at this point in the pandemic, Omega Healthcare Investors (NYSE: OHI) told shareholders during its third quarter earnings call on Friday, but anticipated Provider Relief Funds (PRF) and state initiatives will offset costs when they arrive. Florida’s nearly $100 million funding initiative for nursing homes, along […]
Post-acute care clinicians are looking to workflow technology to help with frontline burnout in an effort to redesign clinical care and erase redundancies along the care continuum. Tech investment and implementation is broken down by the “need of the hour,” as Signature HealthCARE chief medical officer Dr. Arif Nazir puts it, with infection control and […]
After fighting COVID-19 in their facilities for 18 months, many nursing home operators were frustrated when they were informed in mid-August that a vaccine mandate would be coming into effect only for nursing home workers in the health care space. While that mandate has since been expanded to include all health care workers, the feeling […]
The relationship between hospital systems and skilled nursing facilities was shaken by a reactionary attitude at the beginning of the pandemic, where a lot of “missteps” were taken out of a need to protect one’s own patients, Signature HealthCARE chief medical officer Dr. Arif Nazir said. Now that relationship is a whole lot more collaborative, […]
The relationship between nursing homes and regulatory agencies has varied since the start of the pandemic — surveyors were initially very helpful, but as the pandemic went on, clinical leaders started to see a shift in that relationship with mounting directives around citing outbreaks. In recent months, that relationship has shifted again to be more […]
New York City-based health care lender and asset manager MONTICELLOAM, LLC announced it provided $58.13 million in debt financing for the refinancing of five skilled nursing facilities in Florida. The facilities consist of a total of 607 beds. The transaction’s sponsor is reportedly an experienced owner/operator with a current portfolio of more than 35 buildings […]
With one of the lowest staff vaccination rates in the country — 45.8% compared to the national average of 59.3% —Florida operators may have a tough road ahead of them as the emergence of the delta variant and an easing of state and federal mandates has created a flood of new cases at local hospitals. […]
The COVID-19 emergency overturned nursing home operations overnight in almost every respect, notably with regard to the provision of clinical care. And according to a panel of physicians who work in the nursing home setting, some of those changes should stick around, even after the public health emergency finally comes to a close. Namely, they […]
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 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 […]
Welltower Inc. (NYSE: WELL) took a $97 million write-down associated with properties operated by Genesis HealthCare (NYSE: GEN) amid concerns about the nursing home giant’s future, the real estate investment trust (REIT) announced Thursday. The move came as Welltower switched Genesis to cash-based reporting for its lease income, retroactive to July 1, though chief financial […]
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 […]
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 […]
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 […]
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 […]
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 — […]
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 […]
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 […]
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 […]
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