Occupancy in Narrow Range Since April 2018 Managed Medicare Revenue Mix Now at 11% NIC released its fourth quarter 2018 Skilled Nursing Data Report last week, which includes key monthly data points from January 2012 through December 2018. The report also includes the latest urban vs. rural comparative data points as well as revenue mix trends.
Medicare is changing the way skilled nursing operators are paid, effective October 2019. The new Patient-Driven Payment Model (PDPM) system replaces Resource Utilization Groups (RUGs) and will dramatically shift predictors of financial success, while raising new compliance concerns as operators change their business strategies to adapt. Skilled nursing investors, as well as owners, operators, and care/service providers will not want to miss PointRight Executive Vice President and Chief Clinical Officer Steven Littlehale’s upcoming NIC Spring Conference presentation on the subject. NIC recently discussed the session with Littlehale, which is recapped here:
Helping the seniors housing and care industry provide America’s elders with a variety of appropriate options is part of NIC’s mission. In this era of innovation, in which technology is quickly advancing, payment models are shifting, and a new generation of consumers is driving change, NIC encourages industry decision-makers to stay aware of what’s new and upcoming as they develop plans for the future. As millions of baby boomers approach, they will demand options and will present a range of challenges, many of which should be anticipated today. To that end, we’d like to encourage you to consider attending Aging2.0’s OPTIMIZE Conference.
The Labor Department reported that there were 201,000 jobs created in the U.S. economy in August, above the consensus expectation of 190,000. However, revisions subtracted 50,000 to the prior two months as June was revised to 208,000 from 224,000 and July was revised to 147,000 from 157,000. Payrolls have averaged 207,000 per month so far this year, up from 182,000 last year.