Analysis: PPE costs increase over 1,000% during COVID-19 crisis
By James M. Berklan, McKnight’s Long-Term Care News. Skilled nursing facilities and assisted living centers treating COVID-19 patients have experienced a 1,064% increase in costs for required personal protective equipment since the deadly virus started its rampage in the U.S. The rise is even higher (1,084%) for those using nitrile gloves due to vinyl glove…
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An Alarming Metric
Median Skilled Nursing Operating Margin Falls Below Zero (Article by Alex Spanko / Oct 10, 2019, Skilled Nursing News) New cost comparison data released for the 2018 Skilled Nursing Facility performance shows a grim picture. The SNF median Operating Margin has fallen below 0% for the first time in three decades. Skilled Nursing Facilities need…
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New Wave of Closings?
Struggling SNFs could lead to new wave of closings, analysis finds (article by Danielle Brown, McKnight’s Long-Term Care News) A facility’s CMS star rating and operating profit margins are correlated, according to recent cost comparison data released. Facilities with an overall star rating of 3 or above experienced an operating margin above the national level. …
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Assisted Living Costs/Trends
Monthly Assisted Living Costs Surpass $4,000 (article by Tim Regan, Senior Housing News). This year’s cost increase for Assisted Living Facilities is 1.28%, compared to last year’s increase of 6.7%. The declining increases can be attributed to oversupply as well as other alternatives to care. Understanding how to navigate a reduced census due to oversaturated…
Read MoreSenior living occupancy falls slightly in first quarter as industry braces for COVID-19 impact
By Lois A. Bowers, McKnight’s Senior Living. Senior living occupancy fell slightly to 87.7% in the first quarter, according to new data from the National Investment Center for Seniors Housing & Care’s NIC MAP data service. The effects of the COVID-19 outbreak are not evident in NIC’s data yet, but in a recent executive survey of industry leaders by…
Read MoreSkilled Nursing Facilities Could Soon See $1.5B Under CMS’s Emergency Relief Plan, With More on the Way
By Alex Spanko, Skilled Nursing News. The federal government this week announced that hospitals and other Medicare-reimbursed health care providers will receive the first disbursements from a $100 billion emergency COVID-19 stimulus fund. For skilled nursing facilities that primarily derive their income from Medicare, the windfall could be significant. “We estimate an allocation of about…
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