COVID-19 had led to increased costs and financial hardship among nursing homes across the nation, according to a survey of 463 nursing home operators conducted earlier this week by the American Health...
Over the past four years, New Jersey-based Portopiccolo Group has been building a nursing-home portfolio rivaling some of the nation’s largest chains. The firm acquired its first skilled nursing facility...
Nursing homes previously sued for Medicare fraud received hundreds of millions in coronavirus relief...
By
Amy Novotney
Aug 05, 2020
For-profit nursing home operators that have faced accusations of Medicare fraud and kickbacks in recent years received more than $300 million in coronavirus relief payments, according to a Washington Post...
SNF occupancy rates dropped to nearly 75% in May: NIC
By
Amy Novotney
Aug 03, 2020
Skilled care occupancy rates continued to fall in May, thanks largely to the COVID-19 pandemic. That’s according to monthly data released Thursday from the National Investment Center for Seniors Housing...
Supply of post-acute care facilities continued decline last year: MedPAC report
By
Amy Novotney
Jul 21, 2020
The nation’s supply of inpatient rehabilitation facilities, long-term care hospitals and skilled nursing facilities continued to decline in 2019, contracting by 1.5%, 3.9% and 0.8%, respectively. That’s...
During a pandemic that has hampered nursing homes’ most profitable business — post-surgery rehab — some facilities have been admitting COVID-19 patients to ease the burden on overwhelmed hospitals,...
Genesis and Ensign Group see shares drop amidst House COVID-19 nursing home investigation
By
Amy Novotney
Jun 22, 2020
Last week, a House of Representatives committee launched an investigation into how five large nursing home companies have handled COVID-19. Among the nursing homes under investigation are publicly traded...
SNFs received a nearly 9% Medicare rate boost from COVID-19 patients in April: analysis
By
Amy Novotney
Jun 17, 2020
April’s average per diem Medicare rate paid for COVID-19 patients in skilled nursing facilities was $669, according to an analysis of claims submitted by the more than 1,300 SNFs, conducted by Zimmet...
Signature HealthCARE lays off 100 employees at its Louisville headquarters
By
Amy Novotney
Jun 15, 2020
Louisville, KY-based nursing home chain Signature HealthCARE will cut 100 jobs at its headquarters due to the coronavirus pandemic, according to The Courier Journal.
Nursing home industry on verge of financial collapse, group claims
By
Amy Novotney
Jun 11, 2020
Even before the industry was dealing with the COVID-19 pandemic, the average nursing home was operating on a razor-thin profit margin or net loss. That’s because Medicaid reimbursements only cover 70%...