Medicare reimbursements rates to skilled nursing facilities remain high for 2012 despite widespread outcry in the industry following the announcement of 11.1% reimbursement cuts, according to the Center for Medicare Advocacy, Inc. The rates in fiscal year 2012 are actually 3.4% higher than the FY 2010 rates. The Federal Register, published Aug. 8, 2011, announced […]
Category: Skilled Nursing
AdCare Property Holdings, LLC, a subsidiary of AdCare Health Systems, Inc., agreed on Jan. 17 to acquire a 141-bed skilled nursing facility located in Lonoke, Ark. for an aggregate purchase price of $6,486,000, subject to the terms and conditions of the ConvaCare purchase agreement. The purchase is expected to close on March 1, 2012, although […]
Group therapy was virtually extinct in the first quarter of 2012 as skilled nursing providers “significantly” changed the mode of patient therapy from group to individual after the Centers for Medicare & Medicaid Services (CMS) revised the RUG reimbursement system, according to a CMS report. Most Medicare patients are in skilled nursing for short-term stays, […]
Now housing just 29 patients, the Woodlands Hill nursing home campus in its famous Hollywood location has defied odds—and a dwindling patient count—by continuing to offer its services. The Motion Picture and Television Fund’s operators announced three years ago that it would close, but with the help of grassroots organization Saving the Lives of Our […]
AdCare Health Systems, Inc. (NYSE Amex:ADK) announced on Jan. 6 that it had signed a definitive purchase agreement for three skilled nursing facilities located in Arkansas, for $27.3 million. There are a combined 439 beds in the facilities, which generate an estimated $22.2 million in gross annualized revenue, according to their most recent financials. “Included […]
The availability for new senior housing construction is starting to increase according to Peter Kane, Managing Director of the Private Bank. During an interview with the National Investment Center for the Seniors Housing and Care Industry, Kane said after years of cleaning up their balance sheets and working through regulatory changes, investors are demanding improved […]
Lancaster Pollard recently completed $21 million of Federal Housing Administration Section 232/223(f) financing for two nursing facilities, both located in Texas. For the first, the firm assisted Prestonwood Rehabilitation & Nursing Center, a 132-bed facility, to refinance $9,710,700 of debt. The FHA refinancing will benefit Prestonwood through significant annual debt service savings and a 35-year […]
Lancaster Pollard recently lined up $8 million of financing through the Federal Housing Administration for two nursing facilities. Based in Sioux City, Iowa, Touchstone Living Center refinanced debt that was carried by a major bank. Using the Department of Housing and Urban Development’s Section 232/223(f) program, Lancaster and Pollard’s Quintin Harris arranged $3.8 million in […]
Skilled nursing and assisted living provider AdCare Health Systems, Inc. (NYSE Amex:ADK), recently signed a purchase agreement for five skilled nursing facilities in Oklahoma for $16 million. The facilities have an aggregate 357 beds that generate an estimated $15.0 million in annualized revenues, and the acquisition is anticipated to be immediately accretive to AdCare’s earnings […]
Skilled nursing facilities (SNFs), long term care hospitals (LTCHs), and inpatient rehabilitation facilities (IRFs) could see additional Medicare cuts if Congress adopts a new deficit reduction plan outlined by President Obama. First reported by Forbes, the plan aims to encourage efficient post acute care, which has seen expenditures rise dramatically over the years and place […]
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