The upward trend in skilled nursing occupancy continued month to month in the first quarter of 2021, according to the Skilled Nursing Monthly Report for April, published Friday by the National Investment Center for Seniors Housing & Care.
Occupancy increased for the third month in a row, rising 94 basis points (0.94%) from March to the end of April to 73.2%. Occupancy is now up 185 basis points (1.85%) from the 71.3% low point reached in January. The report credits SNF vaccination rates and the rise of elective surgeries for driving occupancy since the pandemic rounded the corner.
Still, occupancy is well below pre-pandemic rates, and cash flow is a concern at some properties. In February 2020, occupancy was at 85.5%.
Research suggests that Medicare admissions have been increasing. Compared with one year ago, managed Medicare revenue mix is up 225 basis points from 8.5%, according to NIC.
Medicaid revenue mix increased 85 basis points (0.85%) from March, ending April at 50%. NIC said it expects Medicaid days to increase as occupancy continues to rise during 2021.
