NIC San Diego and The Coronavirus
Despite several cancellations we have heard of, we will be at NIC in San Diego to see you and talk deals. Good morning NIC attendees, at least those of you who decided to brave the coronavirus, which is here, in San Diego. I shouldn’t make light of it, as this virus is a killer, and if it is not contained, could do significant harm to the entire senior living industry. Perhaps in a way worse than even the worst flu season, but on steroids. Unfortunately, we have heard over the past several days of people canceling their trip to NIC, and entire companies telling their employees not to travel by air for business, even if they already had meetings set up at a conference such as NIC. Well, I... Read More »
60 Seconds With Steve: Best Time to Borrow is Now
In 60 Seconds With Steve, he discusses that even with tumbling stocks, the best time to borrow would be right now. I guess the markets are finally taking the coronavirus seriously. The worst may yet to come, at least for the virus. Monday’s more than 1,000-point plunge in the Dow shocked a lot of people, but we need some perspective. That drop is just over 3%, not that much of a plunge when you put it into a historical perspective. On October 19, 1987, after just one year in the senior living business, I checked into a hotel in Pennsylvania for a state conference. I turned the TV on and saw the merely 508-point drop in the Dow on the screen. But that was a 22.6% plunge. Think of that:... Read More »
Can We Be Inspired?
High-end urban senior living may be the next big thing, but it will not be cheap. So, I was on a train Monday heading out of New York City and I looked up and saw an ad on the wall with a big “Senior Living” in the middle. Of course, it caught my attention. So I walked up to it and saw that it was an ad for the new Inspīr at Carnegie Hill being developed by Maplewood Senior Living and Omega Healthcare Investors on the Upper East Side of Manhattan. Construction started in June 2017 and it is supposed to open at the end of this quarter. With 23 floors, 212,000 square feet, 215 units and at an initial cost estimate of $285 million, it will be the most expensive assisted living community ever... Read More »
What To Do About Medicaid Payments
The games that states and skilled nursing providers have to play to try to get appropriate Medicaid funding has got to change. There has been a lot of talk about what may happen to supplemental Medicaid payments, most of which come under the guise of “provider bed taxes” and UPL payments, short for upper payment limits. As far as I am concerned, these are all little games that skilled nursing providers, and the states they are located in, play in order to get more federal funding for Medicaid. They are all absurd and should be abolished. Now, before you tar and feather me, here me out. Skilled facilities with a high Medicare and private pay census do not like provider taxes because they... Read More »
Values Surge Despite Persistent Worries
The 25th Edition of The Senior Care Acquisition Report is almost ready, but get your sneak preview and analysis in our upcoming webcast. We are diligently working on the 2020 edition of the Senior Care Acquisition Report, which we hope to have ready for publication by the end of the month. It will be the 25th edition of this market-leading report, and it has valuable M&A statistics that you will not find anywhere else, including trends over multi-year periods. Well, that is not exactly true. Next week we will be releasing some of those statistics in our annual webcast on the state of the seniors housing and care M&A market. Our panel will include brokers from Cushman &... Read More »Schedule a demo
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