Nursing Home - McKnight's Senior Living

Nursing Home

Business briefs for Thursday, Oct. 29

HHS awards nursing homes $333M in COVID-19 performance rewards … Only half of Americans are saving money for healthcare expenses in retirement: report … Former New York hospital may be converted into assisted living community … Gantry arranges $45M refinancing for California senior living community … Associated Bank provides $29M construction loan for Minnesota senior living development … Cadence Living and Flournoy Development Group break ground on Seattle senior living community … Essex Senior Living acquires Iowa active adult community; plans multimillion-dollar renovation

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Concerns over skilled nursing REITs ‘overblown’: Mizuho

The qualified audits of skilled nursing operators Genesis Healthcare and Signature Healthcare have raised concern about the sector among some investors. But one investment banking firm is predicting strong third-quarter earnings for skilled nursing focused real estate investment trusts such as Omega Healthcare Investors and Sabra Health Care REIT. That’s according to an analysis in GlobeSt.com this week.

Total value of investment-grade seniors housing and care property market close to $475B in 2019: NIC

The total value of the investment-grade seniors housing and care property market is estimated at $474.5 billion, assuming an average $210,000 price per unit for seniors housing properties and an average $81,000 price per bed for nursing care properties. That’s according to the latest edition of the National Investment Center for Seniors Housing & Care NIC Investment Guide, released this week. The guide provides an overview of the seniors housing and care sector based on year-end 2019 time-series data, before the COVID-19 pandemic hit.

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Pandemic turnover study aims to give providers better options for recruitment and retention

Turnover rates among nursing home workers have increased dramatically during the COVID-19 pandemic, according to the LeadingAge LTSS Center @UMass Boston. Although these workers are particularly vulnerable to the health risks of COVID-19 due to their daily exposure to residents and patients and because many live in areas with high COVID-19 infection rates, little is known to date as to the specific reasons why so many of these workers have quit their jobs amidst the pandemic.

CMS announces $165 million in funding to move people from nursing homes to assisted living and other settings

The Centers for Medicare & Medicaid Services will make up to $165 million in supplemental funding available to states operating Money Follows the Person demonstration programs to help state Medicaid programs boost efforts to move older adults and people with disabilities from nursing homes and other institutional settings to home- and community-based settings, the agency announced Wednesday. Such home- and community-based settings could include assisted living communities.

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