Home- and community-based senior living options are a focal point of the Long-Term Care Commission’s final report to Congress. Not included in the report: a comprehensive solution for how a rapidly aging population will pay for assisted living, home care, and other types of care that are generally privately funded. Consumer choice and returning seniors to […]
Category: Non-Profit
A Kansas continuing care retirement community is looking to stay competitive going forward by using an $85 million refinance to reposition its campus and prepare for the future. Presbyterian Manors of Mid-America, Inc. (PMI), a not-for-profit organization, owns and operates 16 senior living communities in Kansas and Missouri and will use a portion of the […]
Move-ins have tripled and retention rates have improved at a Florida senior living community following the launch of a comprehensive wellness program that addresses the community’s most prevalent risk factors of falls, arthritis, diabetes, cognitive decline, and incontinence. In the 22 months since the Vitality Program was launched, occupancy at 639-unit North Florida Retirement Village, […]
Following the housing bubble and subsequent burst, the senior housing industry is facing an ongoing phase of consolidation, with many, many more deals on the way that will come in response to the post-boom era. For many non-profit organizations, it means consolidation ahead, but perhaps not in the traditional form. Many will opt to affiliate […]
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 […]
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, […]
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