Amid a pandemic of historic proportions, skilled nursing properties have borne some of the greatest challenges as they fight to care for the most vulnerable Americans, many of whom are frail and have multiple chronic healthcare conditions that require monitoring and medical attention. The skilled nursing industry responded quickly and aggressively by, acquiring sufficient personal protective equipment (PPE) implementing strict protocols related to sanitation, visitation and move-ins, implementing accurate and timely testing of staff and residents, and by employing new technologies, such as telehealth, to help provide care. In the latest of NIC’s popular “Leadership Huddle” webinar series, held Thursday, July 9th, skilled nursing operators discussed how the sector has changed, and where skilled nursing properties stand as much of the country has re-opened.
A NIC report developed to provide timely insights from owners and C-suite operators and executives on the pulse of seniors housing and skilled nursing sectors. NIC’s Executive Survey of operators in seniors housing and skilled nursing is designed to deliver transparency into market fundamentals in the seniors housing and care space at a time where market conditions are rapidly changing—providing both capital providers and capital seekers with data as to how COVID-19 is impacting the space, helping leaders make informed decisions.
Today, NIC released monthly data from the NIC Skilled Nursing Data Initiative which incorporates key takeaways of market trends through April 2020. Going forward, NIC will continue to release updated data and insights on a monthly basis in response to rapid market changes caused by the COVID-19 pandemic and its impact on the skilled nursing industry. The following summarizes the monthly release with data from January 2012 through April 2020:
The Labor Department reported that nonfarm payrolls rose by 4.8 million in June and that the unemployment rate fell to 11.1%. This is decidedly good news and suggests that the employment recovery from the precipitous COVID-related drop in March and April continues to reverse course. Combined, 7.5 million jobs were generated in May and June, recouping some of the 22.2 million jobs lost in March and April. Said another way, the June level of payrolls was 14.7 million below February’s.