New congressional estimates put the Social Security disability benefits funds at “empty” by 2017, which will render the program unable to pay full benefits unless Congress acts, reports The Fiscal Times. This news comes after a previous report that the Social Security retirement program will exhaust its funds by 2036. Laid-off workers and increasing numbers [...]
Aetna recently entered into a contract with Genesis Health Care with a goal of providing incentive to create a coordinated care approach that reduces hospital readmissions for Aetna members, reports Health Care Finance News. The contract program is expected to prevent nearly $2 million in unnecessary medical costs each year. More than half of Genesis’ [...]
ESCO Technologies LLC recently announced the launch of a Channel Partner program for its CareConnect telecommunications services, which are only offered to senior living communities. The program offers partners high, uncapped commissions paid upfront on long term contracts, typically lasting 10 years. The company points out that the senior housing industry, which is expected to [...]
WellPoint, Inc. (NYSE:WLP) recently announced the completion of its acquisition of senior-health focused CareMore Health Group, headquartered in Cerritos, Calif. The transaction, which has now been approved by regulators in each of CareMore’s markets, was originally announced the beginning of June. “We are extremely pleased to finalize our agreement even sooner than anticipated,” said Angela [...]
Profits for skilled nursing facilities will flatline as a result of the 11.1% reduction in Medicare reimbursement rates, a new Avalere Health analysis says. Funded by the Alliance for Quality Nursing Home Care (AQNHC), the report estimates that the payment reduction and group therapy changes in the fiscal year 2012 skilled nursing facility final rule [...]
Sunrise Senior Living Investments, Inc. recently entered into a purchase and sale agreement with Master MorSun Acquisition LLC to purchase MorSun’s 80% ownership interest in a joint venture that indirectly owns seven senior living facilities. Sunrise already owns the other 20% of the ownership interest in these facilities, and purchased the remainder for approximately $52 [...]
AdCare Health Systems (NYSE:ADK) announced Monday it has signed a definitive agreement to purchase a skilled nursing and assisted living community in Mountain View, Arkansas for $4.2 million. In aggregate, the facilities have 129 beds that generated an estimated $5.2 million in annualized revenue. Expected to close in the fourth quarter of 2011, AdCare plans [...]
Jupiter Medical Center and NuVista Living announced a joint venture making the medical center a partner in NuVista’s Institute for Healthy Living, Life Science and Research (NIHL). The NIHL is a $70 million continuing care senior community in Jupiter, Florida, and is anticipated to open in the spring of 2013. Plans call for 150 net [...]
Health care providers are trying to make a case against funding cuts to policymakers, who they say don’t seem to understand the price of care that nursing homes are providing, and the impact those cuts could have to the quality of that care, and to the economy. With the Centers for Medicare and Medicaid Services [...]
