National Healthcare Corporation (NHC) has established itself as the largest owner of skilled nursing facilities in Tennessee, according to the latest Centers for Medicare & Medicaid Services (CMS) data. The Murfreesboro-based healthcare provider is affiliated with 34 skilled nursing facilities in Tennessee alone, highlighting its significant market presence in its home state.
Extensive Portfolio Across Multiple States
NHC’s operational footprint extends well beyond Tennessee, with a total of 89 healthcare facilities across eight states as of the most recent CMS reporting period. The company’s portfolio includes:
- 64 skilled nursing facilities
- 20 home health agencies
- 3 hospitals
- 2 hospice agencies
Tennessee remains the company’s strongest market with 43 total facilities, followed by South Carolina (20), Missouri (14), and Florida (6). NHC also maintains a smaller presence in Georgia, Alabama, Kentucky, and Virginia.
Ownership Structure and Leadership
According to CMS data, NHC holds majority ownership (between 50% and 100%) in 24 of its facilities, while the ownership structure of the remaining facilities involves more complex arrangements. Led by CEO Dr. Stephen F. Flatt, NHC (NYSEAMERICAN: NHC) has built a reputation as a leading provider of senior care services since its founding in 1971. The company’s executive team includes President and COO R. Michael Ussery, CFO Brian F. Kidd, and CIO B. Anderson “Andy” Flatt.
Market Context
NHC’s strong position in Tennessee comes at a time when the state’s regulatory environment for skilled nursing facilities is evolving favorably. Recent developments include approximately $150 million in new funding for Medicaid-participating SNFs and the adoption of a case-mix payment methodology. Additionally, the Centers for Medicare & Medicaid Services has finalized a 4.2% increase in Medicare Part A payments to SNFs for fiscal year 2025, which is expected to result in approximately $1.4 billion in additional payments nationwide.
