Amnesty For Senior Care Providers
There has been a push for providing amnesty to senior care providers for COVID-19 lawsuits, and it makes sense . As you know, there has been a big push for states, or the federal government, to offer amnesty to senior care providers from lawsuits related to COVID-19 deaths, other than for cases of egregious neglect. Families and trial attorneys don’t want to hear anything of it. The reality is, suing hundreds of providers will accomplish very little other than lining the pockets of some lawyers and providing some financial comfort to family members. The reality is that it will not be easy to prove “neglect.” As horrible as some of the stories in skilled nursing facilities have been as... Read More »
Deal Flow Stalls…For Now
Seniors housing and care acquisitions came to a standstill, waiting for any positive news. So, I can’t remember the last time we went a full week without one seniors housing and care acquisition announcement. Perhaps in the depths of The Great Recession, but that was more than 10 years ago. Last week, there was nada, zippo, and it seemed to carry over into the start of this week. If you were not approaching the finish line by the end of March, for most deals, they just never crossed. There are a lot of disappointed sellers and brokers, but we have to assume the deals have just been put on hold until some degree of normalcy returns. But it may be a new normal, and lenders and buyers may... Read More »
Where Occupancy May Be By July
The coronavirus was much worse then expected, as was its impact on senior care providers. I have to admit I was wrong, but just the third time in 34 years. In late February, I referred to the coronavirus as the flu on steroids, and that the senior care industry was prepared to deal with it. I was wrong on both accounts. It was much worse than anything on steroids, and many providers were not prepared for this one. I am not sure anyone could have adequately prepared for a deadly disease that can be quickly spread by asymptomatic staff and visitors. Some people think they have escaped the worst part of the coronavirus, and they may be right. But this is not going to be a short-term problem.... Read More »
Are Nursing Home Residents Really “Sitting Ducks”?
Nursing home residents live there because they are frail and often with major illnesses. As a result, they are more prone to infections than others, with worse outcomes. But don’t call them sitting ducks. We all know that The New York Times has had an issue with the entire skilled nursing sector for many years. They just like to pick on it, and when there is a major problem, they pounce. Much like they did last year with the record HUD loan loss, and now this year with the pandemic. But what really irritated me was the recent front-page headline which included, “Residents Are Sitting Ducks.” Now, this phrase did come from someone they interviewed, but the only thing the reader will... Read More »
Getting Personal With COVID-19
When COVID-19 hits close to home. So, here we are in week three of shelter in place. Actually, week four for me. Two weeks ago, I was about the only one wearing a mask in one of my two trips to the grocery store. Now most everyone is, which makes sense. On one of the trips, I was actually told by someone that I was not supposed to be wearing one because I was asymptomatic. My how things have changed. I live in a small town of 20,000, and we have had 82 confirmed cases of COVID-19 and 10 deaths. That’s a 12% death rate, and it has been at that rate for the past week and a half, with about one death a day. I assume that 12% rate will come down as more tests are given, but it does seem out of... Read More »Schedule a demo
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