NIC Notes

Insights in Seniors Housing & Care

Skilled Nursing

NIC Skilled Nursing Data Report: Key Takeaways from the Fourth Quarter 2019

By: Bill Kauffman  |  April 02, 2020

NIC released its fourth quarter 2019 Skilled Nursing Data Report, which includes key monthly data points from January 2012 through December 2019. Here are some key takeaways from the report:

Economic Trends  |  Seniors Housing  |  Workforce

Jobless Claims Doubled to Historic High of 6.6 million in the Week Ending March 28

By: Beth Mace  |  April 02, 2020

The Department of Labor reported that 6,648,000 Americans filed for unemployment insurance benefits in the week ending March 28, 2020 as the COVID-19 pandemic continues to shut down many businesses and much of the economy.  This was an increase of 3,341,000 from the previous week’s upwardly revised level of 3,307,000.  While last week’s report shattered records, this week’s report was even more shocking due to the magnitude of the increase.  The speed and scale of the job losses is unprecedented.  In the past two weeks, 6.5% of employed people or nearly 10 million people have filed claims according to Bloomberg analysis.  It was the highest level of initial claims in the history of the series.  At its worse during the Great Recession, there were 665,000 first-time claims filed in the week ended March 28, 2009.  That was second only to the week ended October 2, 1982, when 695,000 first-time claims were filed. 

Regulatory Environment  |  Skilled Nursing

Summary of CMS and Policy Actions Taken for the Coronavirus Crisis

By: Bill Kauffman  |  March 27, 2020

The Centers for Medicare and Medicaid Services (CMS) have taken numerous actions in response to the coronavirus pandemic. Importantly, some are actions to assist with continued access to care and many to ensure the safety of residents and staff. Initial responses included restricting visitors to skilled nursing facilities and changing the rules for covered facility stays. Patients who remain in the hospital fewer than three days may now receive Medicare-reimbursed skilled nursing care. The following are the summaries and links to CMS for further details. 

Economic Trends  |  Seniors Housing  |  Workforce

Jobless Claims Surge to Historic High of 3.3 million in the Week Ending March 21

By: Beth Mace  |  March 26, 2020

The Department of Labor reported that 3,283,000 Americans filed for unemployment insurance benefits in the week ending March 21, 2020 as the COVID-19 pandemic shut down much of the economy.  The weekly report is among the first economic indicators to show the effects of the virus on the economy.   This was an increase of 3,001,000 from the previous week’s level of 282,000.  This shattered records and was the highest level of initial claims in the history of the series.  At its worse during the Great Recession, there were 665,000 first-time claims filed in the week ended March 28, 2009.  That was second only to the week ended October 2, 1982, when 695,000 first-time claims were filed.  This report compares poorly with the average 225,000 claims filed by people during each week during the past six months.