The number of CEOs of not-for-profit senior living organizations who are likely to retire soon is on the verge of a rapid acceleration, suggests a recent Ziegler CFO HotlineSM survey, but not many of those organizations have transition strategies in place. Looking at the top 15 LeadingAge Ziegler 100 senior living organizations, 10 have CEOs […]
Category: Non-Profit
Following a November report from the Office of the Inspector General (OIG) revealing a $1.5 billion Medicare over-billiing by skilled nursing facilities, it turns out that for-profit providers are more prone to overcharge for unnecessary treatment than nonprofits, according to a recent article published by Bloomberg Businessweek. Claims from for-profit homes that were deemed unsuitable for […]
Low interest rates for new tax-exempt continuing care retirement community (CCRC) financings are coinciding with some rating agencies’ concerns regarding the senior living industry’s increasing average community age. In the not-for-profit sector, interest rates for new campus financings are at their lowest levels since early 2008, according to Ziegler’s Senior Living 2013 Sector and Market Outlook. […]
Bondholders for Clare Oaks, a continuing care retirement community in Bartlett, Ill., will lose about $23 million as a result of a new bond issue, unanimously approved by the Illinois Finance Authority, to restructure the bankrupt community’s debt. The IFA voted 11-0 to approve a $90 million bond issuance to restructure the debt obligations of […]
Identifying care gaps and bridging them through a care collaboration has helped one nonprofit senior living organization reduce the number of emergency room visits and rehospitalizations among its residents to a nearby hospital. Hospitals are more conscious than ever of the need to provide quality care and prevent readmissions now that Medicare is docking reimbursements […]
The nursing home industry hasn’t exactly had the easiest of paths for the past fifteen or so years, especially after Congress’s Balanced Budget Act of 1997 attempted to restructure the Medicare reimbursement system and ended up cutting about $16 billion from the program, instead of the originally intended reduction of about $9-10 million. Alan G. Rosenbloom, […]
A Los Angeles-based senior living community is working to help Americans in the low-income bracket by offering a few outside-the-box solutions in senior housing. The program, the subject of a Fast Company article this week, is coined “EngAGE,” and is centered around a non-profit led by Tim Carpenter, which focuses on arts and wellness for […]
A spectacular $229 million bond default in 2011 by The Clare, a luxury senior living community sponsored at the time by the Franciscan Sisters of Chicago Service Corporation, hasn’t deterred an affiliated Catholic senior living organization from seeking $160 million in tax-exempt bond financing. Like many other senior living providers, both non-profit and for-profit, Franciscan Communities […]
The senior living industry is at a crossroads, and the decisions made today will have a far-reaching impact on the future, said Larry Minnix, president of LeadingAge, a nonprofit trade association of senior living providers, during the group’s annual meeting held this year in Denver, Colo. The direction the industry decides to take will impact […]
NewCourtland Plans $5.6 Million Senior Housing Conversion Project Nonprofit community services provider NewCourtland recently broke ground on a $5.6 million conversion project that will turn a vacant suit factory into a senior housing and care campus. The LIFE (Living Independently for Elders) center, in Philadelphia, Pa., will be located in a five-story former suit plant on […]
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