Occupancy rates for skilled nursing properties dropped to a new record low of 74.6% in July, according to a report this week from the National Investment Center for Seniors Housing & Care’s NIC MAP Data Service.
SNF occupancy rates have fallen 10.1% from their February rate of 84.7%, and 9.4% from their year-earlier level of 84%. However, the general downturn appears to be stabilizing, as occupancy fell only 0.2% from June to July, NIC said. The report also showed that occupancy rates declined more steeply within urban areas, dropping an average of 11.4% since February. The downturn was 6.2% in rural areas.
Further, managed Medicare revenue mix was up in July, for the first time since the pandemic began. It increased nearly 0.4% between June and July, suggesting that admissions may be stabilizing as many states have lifted their suspension of elective surgeries.
The report includes occupancy rate data from more than 1,500 skilled nursing properties throughout the country.