COVID-19 fueling higher expenses, lost revenues
Nonprofit long-term care operators are dealing with millions of dollars in lost revenue and new costs as a result of the COVID-19 pandemic, according to a report Monday in Crain’s Detroit Business.
Coronavirus / COVID-19
All REIT sectors declined last week, despite strong June rent collection
Property sectors among all real estate investment trust sectors declined last week as a surge of new cases of COVID-19 in many states raised concerns about economic reopenings.
Operators’ reopening strategies balance residents’ physical, mental health needs: ASHA brief
Senior living operators are using a balanced, data-driven approach to reopening communities during the COVID-19 pandemic by continuously assessing risk, mitigating transmission and monitoring progress while considering their unique markets and communities, according to a new special issue brief issued by the American Seniors Housing Association.
Capital providers pass Fed’s stress test, some just barely
All 33 U.S. banks subject to the 2020 Federal Reserve stress tests met the standards to prove they would be able to retain enough capital to stay solvent through a deeper crisis, according to results released by the central bank last week. The Fed, however, said several banks came close to the minimum levels of cash reserves mandated under the Dodd-Frank Wall Street reform law, which was passed in the wake of the 2007-2009 financial crisis.
Multigenerational homes likely to be more popular in the future, but may not be safest against pandemic
Demand is growing for homes designed to accommodate more than one generation, and many say they expect the pandemic to accelerate that trend. Shelter-in-place orders often make it difficult for adult children to check in on elderly parents who live separately or in long-term care facilities.
Employers could see healthcare costs rise 10% next year: PwC
Employers are likely to face an increase in medical costs of between 4% and 10% for their employees in 2021, according to a new report from PricewaterhouseCoopers.
Business briefs for Tuesday, June 30
More than 40% of companies in the S&P 500 have pulled their guidance due to the coronavirus pandemic … Ziegler completes two fixed-rate deals for nonprofit senior living providers … National Church Residences acquires independent living villas at Florida retirement community … Atlantic Housing Partners to open $15M Florida affordable seniors housing community … Boston Capital invests in Kansas affordable seniors housing expansion
COVID caregivers, don’t forget to take care of yourselves
Results of a new survey bring potentially troubling news for those in senior living employees and the companies for which they work: Personal exposure to the coronavirus is linked with poor mental health. Fortunately, there are steps that front-line heroes and others can take to lessen the stress they might be feeling related to the pandemic, regardless of whether they have been exposed to the disease.
NIC point-in-time survey shows COVID-19 cases, testing higher in settings where residents have greater care needs
Suspected and confirmed positive cases of COVID-19 are higher in senior living and care settings where resident care needs are greater, according to results of a small survey released Friday by the National Investment Center for Seniors Housing & Care. But, generally speaking, COVID-19 testing also is more prevalent in higher-need settings.
SBA issues new guidance on PPP loan forgiveness
The Small Business Administration has issued new interim final rules for the Paycheck Protection Program Flexibility Act in an attempt to make complete loan forgiveness attainable for most borrowers.
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