As the nursing home industry settles into the next uneasy phase of the COVID-19 crisis — an indefinite period in which the pandemic will dominate every decision until a vaccine becomes available — one leader emphasized the importance of finding the upside in stasis. “We’re not getting better anytime soon, but we’re surely not getting […]
Symphony Post Acute Network
Symphony Care Network this week announced the successful completion of a deal to take over three skilled nursing and assisted living properties — previously operated by the non-profit Caretel Inns — in Michigan. The Chicago-based Symphony had previously announced the deal last September, immediately assuming operations at a pair of former Caretel facilities and starting […]
With all the changes that have swept the skilled nursing industry over the last decade, one of the classic investment models in the space may need to evolve with the times. “I think that the REIT model is dead,” Robert Hartman, founder of Symphony Post Acute Network, said during a Monday panel discussion at the […]
In a U.S. health care landscape dominated by calls to shift from silos to episodic care, skilled nursing facilities have been feeling the pressure to expand their reach. For the Chicago-based Symphony Post Acute Network, that urge was a major driver behind its recent acquisition of Caretel Inns of Brighton and Caretel Inns of Lakeland, […]
Over recent years, as length of stay and reimbursement have declined in the skilled nursing space, one trend has risen steadily: the acuity of the patient population. It’s a trend that multiple executives in the skilled nursing field have observed, particularly as the industry prepares to pivot toward the new Patient-Driven Payment Model. But it’s […]
Symphony Post Acute Network expanded its footprint into the Michigan market this week with the acquisition of Caretel Inns of Brighton and Caretel Inns of Lakeland, a pair of skilled nursing and assisted living facilities. Located in Brighton and St. Joseph, Mich., respectively, the facilities blend high-end post-acute care with assisted living units, according to […]
Developer Michael Catanzarite received rezoning approval from city officials on July 1 to build a $20 million skilled nursing and rehab center in Strongsville, Ohio, Cleveland.com reported. Catanzarite had initially told Cleveland.com that the development would include independent living, assisted living, and long-term care, but he later said that the project will only be a […]
Joint replacements and orthopedic patients were once the bread and butter of the skilled nursing world, but as acuity rises and value-based care gathers momentum, it’s not a business SNFs can bank on having in the future. Instead, they have to be hyper-aware of the needs of their specific market and respond accordingly. For Symphony […]
Escalating drug costs have made headlines in the health care sector at large in recent months, and as patient length of stay (LOS) declines, skilled nursing facilities are particularly feeling the pinch due to their unique supply requirements. For Transitional Care Management, which has two skilled nursing locations in Illinois, the average cost of medications […]
With a recent grand opening in Kansas City, Ignite Medical Resorts is betting that short-term rehab still can be a winner — even if the reimbursement math will become trickier under the new Medicare payment system next year. “At the end of the day, many people can build a nice facility,” Ignite co-founder and CEO […]
Interra Brokers $6M Sale-Leaseback of SNF in Chicago’s West Loop Interra Realty brokered the sale-leaseback of Chicago skilled nursing facility Monroe Pavilion, located in the city’s West Loop, for $6 million, REBusinessOnline reported. The buyer, JK Equities, was represented by David Goss and Lucas Fryman of Interra. The seller, Symphony Post Acute Network, was represented by Jon […]
The shifting tectonic plates in the skilled nursing landscape include a focus on value and a new payment system that puts the focus on medically complex patients and specialties. As providers try to adapt, some have chosen to go all in on a model of care that targets short-stay patients, flying in the face of […]
The skilled nursing industry faces an existential crisis over its future, and 2017 was a year filled with threats — financial and regulatory woes at top providers, plummeting occupancy, and continued reimbursement pressures. But it was also a year that saw promising research illustrating the utility of SNF care and successes in new payment models, […]
It’s Friday afternoon, which means it’s time for a quick look back at the biggest skilled nursing headlines of the past week, and a peek into what could be on the horizon in the coming days. Skilled Nursing News brought you extensive coverage from the Post Acute Link Care Continuum Conference in our hometown of […]
Symphony Post Acute Network has helped redefine the skilled nursing, transitional care business—so much so, some other providers in Symphony’s markets are banding together to stay competitive. But what exactly does Symphony’s model involve? It’s a mixture of elements that together create a “super SNF,” Symphony President Tim Fields said Tuesday at the Post Acute […]