Where Are The Gray Panthers?
Seniors in and out of seniors housing communities need to mobilize, and AARP has not been doing its job representing their members. Where are the Gray Panthers when you need them? Many of you may not remember this 1970s activist group that got its start when someone really objected to forced retirement at 65. This was a full 50 years ago today. As winter approaches and senior living providers prepare for another round of potential shutdowns, lockdowns, admission and tour bans because this pandemic is not going away, when will our senior citizens rise up and revolt? Senior living communities are “their” homes, and it is about time they stood up and said, hands off our homes. Yes, we... Read More »
Valuing SNFs During The Pandemic
With occupancy at historic lows, and expenses in flux, it has been difficult to value nursing homes in today’s market. But it is happening every day despite the uncertainty. With occupancy still in turmoil and many nursing homes reliant on federal aid to pay the bills, it must be quite difficult to underwrite and value individual nursing facilities, let alone a portfolio of them. But it is happening every day. What assumptions do you make for occupancy, and census mix? What is a normalized level of PPE expenses, and will this be indefinite? And then you have labor costs and supply. With a Biden/Harris administration, is a $15 national minimum wage around the corner, and will... Read More »
Is The Election Over Yet?
No matter who wins, there will be violence and we still have not dealt with Social Security and Medicare. Pathetic. Unfortunately, I am writing this just after I voted today, but before we will know the outcome for the White House and the Senate. I think it is a safe bet that the House will remain where it is, more or less. It was the first time I have ever had to wait in line, 30 minutes. I have now voted in 12 presidential elections, and I am sad to say that I voted for the winner in just four of them, with one still unknown. Not a good track record, or am I out of step with the rest of the country? Perhaps, but I don’t like to think so. But in those 12 elections, this is the first time... Read More »
Digging Out
Cases of COVID-19 are rising across the country, but providers are better prepared than ever to take care of our elderly. The coronavirus pandemic is spreading, and any notion of a vaccine by the end of the year has faded. Yet, even though we take care of the most vulnerable population, the senior care acquisition market seems to be stabilizing. More deals have been closing this month than in the previous several months. But what does this mean? Third quarter earnings reports start coming tomorrow, and no doubt the occupancy numbers from the REITs will show continued deterioration to new record lows. This is the unfortunate reality we are all dealing with. And as average occupancy goes... Read More »
Labor Costs During The Pandemic
Rising labor costs during the pandemic are hurting the bottom line, but there are solutions. As you may have heard, we will be hosting a webcast next week on the labor problems affecting seniors housing and care, and we hope to provide you with some solutions. The panelists include the founder of Matchwell, a relatively new company whose goal is to rid every community of agency labor and overtime. Wouldn’t that be nice. Plus, we have someone from Benchmark Living which has some of the most innovative practices out there to keep and recruit new employees. Finally, the manager of a 105-unit community will explain how for 25 years she has kept annual turnover at just 20%, something most of... Read More »Schedule a demo
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