Is Alaska’s Problem A Look At Our Future?
Cuts to Alaska’s elderly funding was front-page news recently. I figured it was fate when, on my first day on vacation in Alaska last week, the headline of the major newspaper talked about the elimination of senior benefits. Then, in the hotel lobby was a separate publication, Senior Voice, and a story about the ABCs of selecting an assisted living “home.” Let’s just say, I felt right at home. That lead story told how more than 13,000 Alaskan seniors would be losing a monthly benefit check of just under $200, with the governor vetoing a plan to restore it with just three days’ notice. Sounds like chump change, until you consider that many of these people relied on that and a social... Read More »
The Skilled Nursing Rebound
Average prices per bed ticked up over the past four quarters, and Genesis Healthcare posted better results. In this month’s SeniorCare Investor, I talked about the recent rise in the average price per bed for skilled nursing facilities for the most recent trailing four quarters. A small rise, but up nonetheless. Perhaps the start of a SNF rebound. And then Genesis Healthcare reported its second quarter results, and while they still have a ways to go, they too have seen some improvement. Small, but we will take it. Compared with the year-ago quarter, occupancy was up 250 basis points to 86.6% and the EBITDAR margin was up 79 basis points to 13.6%. Now, some of this improvement most likely... Read More »
The Great Development Slowdown
Everyone is talking about development slowing down, but over development is just part of the problem. We have been hearing it for a few months: seniors housing development is slowing down, based on fewer new construction starts. We have heard it from NIC MAP, from HCVenTower, and now Brookdale Senior Living. They are all saying that in many of their markets, they are seeing light at the end of the over-development tunnel. Maybe. It is one thing if new starts are declining, but it is quite another to fill the current empty units plus the new supply that is currently opening, and going to open. Let’s just say, we are not out of the woods yet, and census is only one part of the problem. Not... Read More »
Land and Buildings Strikes Again
Still trying to get two board nominees, Land and Buildings steps up its criticism and need for change. Well, well, well. Jonathan Litt of Land and Buildings is at it again, this time with a six-page letter to Brookdale Senior Living shareholders, eviscerating Brookdale’s management and board, past and present, for the company’s severe underperformance over the past 10 years. So, what else is new? Look, management and much of the board has changed and the only ones who can be blamed for the disastrous Emeritus acquisition are the old management, the former board and perhaps their advisors, who should have known better. Highlighted in his letter was the underperformance of Brookdale... Read More »
Soaring With Seniors
Think about the thrill for your residents, flying in the cockpit of a two-seat biplane, soaring above the land, and free of charge. Imagine you are 90 years old and living in a senior living community, and maybe a war veteran. Life may not be as exciting as it was, especially if you are not very mobile. But also imagine if, free of charge, you could spend 15 to 20 minutes flying around in a 1940’s-vintage biplane. That is the mission of Ageless Aviation Dreams, founded in 2011 by Darryl and Carol Fisher (Mission Senior Living). So far, they have completed 3,940 “missions” in 45 states for these deserving residents of your senior living communities, at no cost to you, other than getting... Read More »Schedule a demo
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