Nearly half of the skilled nursing facilities in the U.S. are 40 years old and older, and that is going to be a big problem?
Have you ever wondered what is going to happen to all those skilled nursing facilities that were built in the 1960s and 1970s, and look it? Some are even older, although I hope most of them have had some sort of renovation over the years. These “old” nursing facilities are going to struggle over the next 10 years, if they are not already struggling today. They are usually small from a square feet per bed basis with a high Medicaid census. Many would have difficulty taking care of high acuity subacute patients. And I suspect most would not be sought after in any kind of post-acute partnership with another provider or group of providers. Should these properties convert wings to other types of care, build a new wing to compete with the new generation of post-acute providers, renovate the entire building or maybe do nothing and see what happens? These are difficult questions for a lot of providers, because the industry is changing and some may not want to change with it. But their property is still a valuable asset, and they don’t want that value to deteriorate. Nor do their lenders. Join me tomorrow when I host a webinar on “The Future of the 40-Year Old SNF.” It is a topic that should not be avoided.
Click HERE to attend the webinar.
