What happens when 100 is the new 65?
With technological advances, people will be setting records in aging, passing the current record of 122 years old. A recently published article in the journal Nature has created some interesting discussion. The conclusion of the authors is that the human race has hit its maximum life span, with future people never surpassing the eldest living person who died at the age of 122 in 1997. They concluded that the maximum average life span going forward would be 115 years. Not so fast. What these researchers are ignoring is changes in gene therapy, better organ transplant capabilities, and how about a future of artificial organs, all organs? What happens when, and not if, but when you can remove... Read More »
Shutting down SNFs
In an unusual move, a large California owner has asked the state to allow it to close three of his SNFs in one county. My friend Steve Moran had an interesting blog post yesterday about the largest skilled nursing facility owner in California. Apparently, he owns five of the six nursing facilities in a somewhat remote county, and has asked the state for permission to close three of them in Eureka. Now, it could be a ploy to receive higher reimbursement at these Medicaid facilities, as there has been a public outcry to not close them. But with 75% occupancy, and staffing shortages so bad that he has to import temporary staff from out of the area, it would be difficult for anyone to cover... Read More »
Reflections on NIC Conference
Change is coming, and while some people will be prepared for it, others will struggle. With a record turnout at last week’s NIC Conference, we wanted to see what the mood was, and whether there was any primary theme. The mood was decent, perhaps not as upbeat as in years past, but it really depended on whom you asked. The old-timers are a bit nervous, the newcomers more bullish. On the skilled nursing side, going from fee for service payments to bundled payments and ACOs is going to be more painful than many believe it will be, and could result in many small providers hanging it up and selling. It will not cause the value disruption that came after the PPS change to Medicare in the late... Read More »
Welcome to NIC
As we all descend upon D.C., please take some time to stop and chat with us at the conference. So, the 26th annual NIC Conference is upon us. I wonder what the big topic will be this year, if any. In years past there have been exciting developments right before or during the conference, such as Sunrise Senior Living’s share price plunging, or Formation Capital’s billion dollar plus sale of SNFs to GE, or last year the spin-off of skilled nursing assets by Ventas into a new REIT. Will people be talking about Welltower’s billion-dollar acquisition of Vintage Senior Living? Or will it be the upcoming skilled nursing spin-off by HCP? Whatever it is, we will be listening and trying to discern... Read More »
Home Healthcare Is Not The Answer
Costs are rising everywhere, putting increased pressure on seniors’ choices. So, what’s happening in the home healthcare world? On the one hand, you have CMS cutting Medicare payments, with MedPAC suggesting the cuts should be even higher. In addition, wages rates are rising, and home care workers in Washington state have won a $16 per hour wage in the future. On the other hand, new home healthcare startups are raising a lot of money, including $42 million earlier this month by California-based Honor, which is expanding into Texas. And then we read about a small home health provider in California who decided to get into the seniors housing business because home health has become too... Read More »Schedule a demo
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