Senior Living Investment Brokerage, based in Glen Ellyn, Ill., recently brokered the sale of seven senior living properties across three states for a total of $30,350,000. “All signs point to a surge during the last several months in investor interest in senior living properties. Buyers are extremely motivated. For skilled nursing facilities as well as seniors housing, […]
Category: Skilled Nursing
The cost of care among facility-based providers has steadily risen in the past five years, according to the results of Genworth’s 2012 Cost of Care Survey, while the cost of in-home care services has remained relatively flat. The cost of a single-occupancy assisted living unit, with a national median monthly rate of $3,300, rose 1.19% […]
A plan to require nursing homes to hire independent pharmacists to assess residents’ prescriptions has been put on the back burner by the Centers for Medicare and Medicaid Services (CMS), reports Bloomberg. Regulators “decided to further study the issue for future policy considerations,” Jonathan Blum, deputy director of the agency, said in a conference call […]
Nursing homes remained “highly profitable” despite Medicare reimbursement cuts, but they’re still providing inferior care, says citizen advocacy organization Families for Better Care—a claim that the American Health Care Association (AHCA) was quick to counter. Despite “astonishing” recent nursing home earnings reports for publicly traded nursing homes, resident care remains “mediocre at best” with too […]
Sabra Health Care REIT, Inc. (NASDAQ:SBRA) recently acquired two skilled nursing facilities located in Pennsylvania for $29.9 million, and also funded a mezzanine loan investment for Meridian Equity Investors. The nursing facility acquisitions were a sale-leaseback transaction with affiliates of the sellers; the purchase prices was funded with available cash. Each facility has 60 licensed […]
On the heels of the average 11.1% cuts in Medicare payments to skilled nursing facilities that went into effect last October, Congress is also cutting Medicare reimbursements for “bad debt,” leaving facilities in a strapped position that will likely lead to staffing reductions and a lesser quality of care, according to a Spring 2012 report […]
The world of skilled nursing (and senior care in general) is changing, and operators might need to reposition their models for the future if they want to keep up, said a panel of experts during a session at the recent NIC Skilled Nursing Investment Forum. “We need to rethink how we do business ‘horizontally’ and […]
Excellent communication, a good reputation, and solid financials are crucial to senior care operators’ ability to get financial support in the current economic and reimbursement environment, said a panel of financiers during a session on how lenders are responding to Medicare rate cuts at NIC’s 2012 Skilled Nursing Investment Forum. Key Considerations for Developing Operator-Lender […]
LTC Properties, Inc. (NYSE:LTC) recently acquired a 144-bed skilled nursing property located in Red Oak, Texas for $18.6 million from an undisclosed buyer. The REIT funded the acquisition through its unsecured revolving line of credit, and added the property to an existing master lease with an unrelated third-party operator at an initial cash yield of […]
Patient rehospitalizations from skilled nursing facilities is a costly problem the industry is working to fix, especially after a study revealed accelerated cognitive decline in elderly patients after a hospitalization, and a panel of experts at a recent session during NIC’s 2012 Skilled Nursing Investment Forum said readmissions could be linked to length of stay […]
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