As Medicare Advantage continues to penetrate the nursing home market, leaders say that MA plans are depressing margins amid higher costs to run operations. This might lead some operators to contemplate closing, while others will be wiser to hire staff in designated roles to help them negotiate better rates – and exclusions – for managed […]
Kandu Capital and Bloom Senior Living’s decision to sell the last remaining assets in skilled nursing and psychiatric care was a continuation of a long process to increase the group’s portfolio of senior housing rather than any macro factors related to the skilled nursing space. “Were they a sale arising out of anything with any […]
The Federal Reserve’s decision to raise interest rates again by 25 basis points on Wednesday will likely slow deal making in the nursing home sector, especially in the aftermath of the Silicon Valley Bank’s (SVB) closure last week and its impact on regional banks. Experts told Skilled Nursing News that it’s a good thing, however, […]
Rising costs in all areas of running a nursing home — not just labor — are squeezing profit margins, compelling providers to adjust operations, make investments and pursue innovations in a quest for greater efficiencies. While skilled nursing facility operators try to get a grip on labor shortages, workforce costs surged by as much as […]
ProMedica recently notified over 260 employees that they will be laid off in the coming months, as the company transitions 147 nursing homes to new operators. The layoffs include 255 remote workers in regional and corporate support staff roles for the senior care facilities, and seven of the employees work in ProMedica’s senior care offices […]
Skilled nursing facilities have seen spikes in operating costs with the onset of the COVID-19 pandemic, putting increased pressure on already-tight budgets. But the increased aid to SNFs from the federal government might help keep some of them afloat, as long as they can survive the broader trends that were playing out even before COVID-19. […]
Robert Specht had spent years at the financial helm of companies in a variety of spaces, but he was a post-acute and long-term care newcomer when he accepted a crash course in the business: a consulting position for a 33-building senior housing and care chain in receivership. Working with Health Dimensions Group, the provider and […]
As the director of finance for The CHMS Group, Gabe Guttman says many days feel like “a war on many fronts.” With compressed Medicaid rates, a Medicare Advantage market dominated by a duopoly that holds most of the cards, and coming changes to the Medicare payment system for nursing homes, accurately capturing reimbursements is more […]
Summit Healthcare REIT, Inc. has a bullish outlook on skilled nursing properties over the coming years, but that doesn’t mean every property is a winner. As of the end of 2018, the Lake Forest, Calif.-based real estate investment trust (REIT) owned four skilled nursing properties outright and 27 through various joint ventures — and that […]
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