The Bifurcating Seniors Housing Market
The seniors housing and care acquisition market is bifurcating in more ways than one. We have all long talked about how the various seniors housing and care acquisition markets have bifurcated over the years. There is the vast difference between “A” quality and “B” quality assisted living communities. There are the old independent living communities vs. the new ones built with AL and MC included. There are the 40-year old SNFs compared with the sparkling new transitional care facilities. But as a result of this coronavirus pandemic and the economic shutdown, there appears to be another bifurcation that has developed. This one is based on outlook. There appears to be two... Read More »
The Media Still Gets It All Wrong
It must have been very frustrating for seniors housing operators, and especially assisted living providers, to have watched the news these past several weeks when they have all been thrown in with nursing facilities. Not to throw nursing homes under the bus, but most of the reported deaths in “long-term care facilities” have been in nursing facilities, not assisted living, even though the latter has had its unfortunate share. But the media rarely distinguishes between the two. So, one recent night, just to get our blood boiling, we tuned into Erin Burnett’s nightly CNN show. In the segment, a “nursing home director” explained how her facility in Oregon was able to stave off the... Read More »
Capital Senior Living Reports, Again
After Capital Senior Living filed an 8-K recently talking about “going concern” issues, we have to admit we were a little nervous about the delayed first quarter earnings release. Let’s just say, it could have been worse. They included the “going concern” clause, which basically says the current conditions raise “substantial doubt about the company’s ability to continue as a going concern for the 12-month period following the issuance of its financial statements” for the first quarter of 2020. Well, after reading the financial statements, it seems like there is definitely room to “continue” for the next 12 months, given some of the steps it has taken. They will have... Read More » Can Federal Funds Come Without Strings?
Can the seniors housing sector expect to receive federal funds during the pandemic without some strings attached, like regulations? As the health care industry tries to deal with the rising costs of the coronavirus pandemic, the funds available may get tighter and tighter. So far, it has been hospitals and nursing facilities that have received much-needed federal aid. Nursing facilities have been given direct daily rate increases to deal with the rising costs of PPE and labor. The private-pay seniors housing sector, however, has been left out, so far. It has not been without a major effort to obtain federal funds to help with the sector’s own rising costs. Testing kits for all staff and... Read More » Bashing Our Senior Care
Getting tired of the media and politicians bashing the senior care sector. Is anyone else tired like I am. I don’t know whether it is the worry about the economy, being infected with COVID-19, having no social life, wondering when the next wave will hit. I could go on. But what I am really tired of is CNN’s relentless bashing, and the politicians who are piling on, looking for someone to blame, like they always do. But what really ticked me off was the April 29 letter that Senators Elizabeth Warren and Ed Markey, along with Congresswoman Carolyn Maloney, sent to the leaders of a half dozen of the largest senior living providers. They had a laundry list of more than 50 questions they... Read More »