Bernie McGuinness has spent three decades in the nursing home industry, rising from a certified nurse aide (CNA) to reach the pinnacle as former CEO of Majestic Care. But the road for McGuinness has hardly ended there. Now, he is venturing into ownership with Journey Skilled Nursing. McGuinness, president and CEO of Journey, sat down […]
As the skilled nursing industry continues to evolve, efforts towards collaboration, innovation and advocacy will be paramount in addressing the challenges and opportunities ahead – along with making the industry “sexier” to potential nurses and healthcare professionals. This is according to Lana Blagg, Senior VP of Clinical Services at Touchstone Communities, who spoke at Skilled […]
Even as the Biden administration strives to crack down on confusing ownership structures in the nursing home industry, it appears there are gaps in federal data collection and limited visibility into ownership. Only one-third of private equity (PE) and fewer than one-fifth of real estate investment trust (REIT) investments in the nursing home space are […]
About a year ago, Illinois-based Heritage Operations Group significantly reduced its skilled nursing footprint, divesting almost half of its 44 skilled nursing facilities and an assisted living facility. At the time, the company cited added challenges posed by staffing shortages and increased staffing costs amid a challenging economic climate. But a year makes a difference. […]
The Office of the Inspector General (OIG) is recommending that the federal government bolster its support to nursing homes – including through policies that help strengthen the workforce – in order to improve quality of care. In its latest report, which draws upon lessons learned during the pandemic, OIG lays forth a set of five […]
Flaws with the Medicaid redetermination process are leading to an increasing number of existing nursing home residents being found ineligible for Medicaid coverage — creating headaches for nursing homes. This view is held by officials at several state health care associations, who spoke to Skilled Nursing News. Montana, for one, has Medicaid redetermination information being […]
The year ahead for Sabra Health Care REIT (Nasdaq: SBRA) presents a “terrific” opportunity for improved margins and potential dealmaking, with eyes on multiple asset classes, according to Sabra CEO Rick Matros. While the California-based real estate investment trust (REIT) has focused in the past couple years on diversifying its portfolio – namely adding behavioral […]
Northwind Group, a real estate private equity firm and debt fund manager, announced multiple significant investments in the skilled nursing sector earlier this month in a move that underlines a favorable environment for deal making for large players. A portfolio of nursing homes owned by The Portopiccolo Group benefited from the provision of credit facilities […]
It’s becoming harder than ever to operate standalone skilled nursing facilities amid inadequate government funding, and innovative business models that deal with challenges, especially those related to staffing, have and will be borne from necessity. “Innovative models are going to present themselves in some way to stop this train,” said Dan Hermann, president and CEO […]
Following significant leadership changes recently at PACS Group, new initiatives are afoot at the nursing home giant as it continues to expand its footprint. To discuss these endeavors, Skilled Nursing News sat down with the new leadership at PACS, whose affiliates operate more than 200 facilities in nine states – 58 of these acquired in […]
The nursing home sector’s minimal participation in Accountable Care Organizations (ACOs) – largely because they have not found it lucrative to be in ACOs or have been sidelined within ACOs by other provider types – has resulted in a push for change. In a joint effort aimed at enhancing the integration of long-term and post-acute […]
Mark Parkinson, CEO and president of the American Health Care Association and National Center for Assisted Living (AHCA/NCAL), on Tuesday announced plans for retirement after 13 years with the association, and leading its members through the pandemic. Parkinson plans to stay on until Jan. 15 of next year, as the association launches its search for […]
Soaring costs associated with skilled nursing – and problematic payer sources – are making it harder for continuing care retirement communities (CCRCs) to provide such labor intensive post-acute care. CCRCs have to ask themselves some hard questions when it comes to what services they can reasonably offer, and if it’s worth it to keep open […]
In recent months, the nursing home sector has witnessed a concerning uptick in the abrupt closure of nursing homes across the United States, with closures in New Jersey, Missouri, California and Vermont, displacing residents. Many factors are at play in the abrupt shuttering of these nursing homes. A tough economic environment, stubborn staffing problems, a […]
The volume of non-compliant fines quadrupled in the post-pandemic period between 2020 and 2022, with a staggering 36,370 such fines being issued to nursing homes, costing the industry a total of $560 million nationwide, according to the 2024 Marcum Three-Year Nursing Home Statistical Review. The high cost to the sector from fines was despite the […]
Sanford Health announced plans Tuesday to break ground on a $200 million project for a continuing care retirement community (CCRC) in South Dakota through its subsidiary, the Evangelical Lutheran Good Samaritan Society. The Good Samaritan Society executives told Skilled Nursing News that the funding for the project is an outcome of a strategy to expand […]
In the midst of lagging Medicaid reimbursements, more nursing providers are pushing states to launch quality incentive programs that are designed to enhance care and reward high-performing long-term care providers. Twenty-four states already have them in place, and the latest to join this trend is Pennsylvania. And to that end, nursing home providers in Pennsylvania […]
Executives at CareTrust REIT (Nasdaq: CTRE) believe that the acquisition market for skilled nursing assets should heat up in 2024. And they highlighted the company’s robust financial position to be able to make investments, with $600 million available on their line of credit and nearly $300 million in cash. “We expect 2024 to be a […]
As Omega Healthcare Investors Inc. (NYSE: OHI) advanced on its restructuring efforts at 2023’s end, company executives said that they were finally able to have a better grasp on their outlook for 2024. And, while the company’s current fundamentals were looking strong, the looming federal staffing mandate might obscure the path forward for the sector […]
Piece by piece, nursing home operators are seeing stricter government oversight of Medicare Advantage (MA) plans, a welcome relief given that partnerships with such managed care plans have become a huge source of administrative burden for providers in the sector, especially as workforce shortages persist. Most recently, the Centers for Medicare & Medicaid Services (CMS) […]
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