60 Seconds with Monroe: Happy Thanksgiving
Rarely does the entire clinical staff at a nursing home walk out in protest of working conditions, but that was the case a few months ago in New Mexico. I was made aware of it when I received a call from an 82-year old woman in New Mexico who volunteers to help the elderly make decisions who are at the end of their life. The manager is a company called OpCo NM, very original, and apparently they have been buying up nursing homes in New Mexico. She believed the people running it were formerly associated with Skyline Healthcare, the company that walked away from more than 100 leased nursing homes after sucking all the cash from them. While I could not verify the connection, given what... Read More »
Skilled Nursing M&A in 2023 and Beyond
On October 19, 2023, The SeniorCare Investor’s Ben Swett moderated a panel of skilled nursing experts from the lending, brokerage, and operating worlds to discuss why the SNF M&A market peaked in 2022, why the sector is struggling more now, and what they would do as SNF investors in 2024. Subscribers can view the entire webinar here. Read More »
New Staffing Regs Announced
Although three months late, the Biden administration and CMS finally came out with their proposal for minimum staffing requirements for nursing homes. They should have waited longer, but what would be the point? They were tone deaf to the staffing problems anyway. The proposed change includes a minimum of 0.55 hours of care from an RN every day, a minimum of 2.45 hours from a certified nurse’s aide per day, but these are the floors. In addition, an RN will have to be on site 24 hours a day. That is going to be very tough for many facilities. Rural nursing homes will have up to five years to meet the proposed standards, and non-rural facilities up to three years. There will be a 60-day... Read More »
Diversified Healthcare Trust Merger Canceled
First it was a postponement of the shareholder vote for a week, and now the ill-fated merger between Diversified Healthcare Trust (DHC) and Office Properties Income Trust (OPI) has been terminated. Two vocal shareholders combined with the three proxy firms advising against the merger was enough to convince management to finally give up. For now. Both parties to the merger have been struggling, and while management stated that this was the only way that DHC would be able to refinance its debt and get on a more solid financial footing to grow, the terms of the transaction seemed to penalize DHC shareholders too much at a time when its major operator was on the road to recovery, albeit more... Read More »
Has There Been Any Progress on Labor?
What has changed with labor in the senior care industry over the last two years? Back in October 2021, LevinPro LTC hosted a webinar discussing the senior care industry’s staffing shortages with CEO of Dwyer Workforce Development, Barb Clapp, and Steve LaForte of Cascadia Healthcare. Those interested in watching Finding It, Retention & Coping with Higher Wages can find the replay link here. Two years later, with the same panelists, Managing Editor Ben Swett hosted Has There Been Any Progress on Labor?, detailing the industry’s path towards labor stabilization, what has gone right, and what still needs to be done. Clapp and LaForte discuss how staffing issues have altered since 2021,... Read More »Schedule a demo
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