Skilled Nursing News (SNN)

4 days ago | skillednursingnews.com | Zahida Siddiqi

California Gov. Gavin Newsom is seeking to delay implementation of a law requiring nursing homes to maintain 96 hours of backup power, which will save the sector $1 billion in capital investments in the state. Federal regulations require such emergency plans be in place for nursing homes, but states vary in mandates. Florida, for instance, enacted a law after Hurricane Irma requiring generators to maintain safe temperatures for four days.

5 days ago | skillednursingnews.com | Zahida Siddiqi

Omega Healthcare Investors (NYSE:OHI) announced on Tuesday that its tenant LaVie Care Centers has completed its bankruptcy proceedings effective June 1, and the Omega-LaVie master lease has been assigned to a new entity called Avardis. “Monthly contractual rent amounts under the Avardis lease remain the same as the legacy LaVie master lease,” Omega noted during an investor presentation.

5 days ago | skillednursingnews.com | Amy Stulick

While Medicare Advantage claim denials represent 17% of initial claim submissions, including those submitted by nursing home providers, about 57% of these denials are ultimately overturned. However, MA claim denials result in a 7% net reduction in provider MA revenue, due to the dollar-weighted share of claim denials that were not overturned, according to a study published in Health Affairs this month.

5 days ago | skillednursingnews.com | Zahida Siddiqi

The federal government is challenging an April ruling that struck down key provisions of the Biden-era nursing home staffing mandate. On Monday, the Department of Health and Human Services (HHS) notified the U.S. District Court for the Northern District of Texas that it is appealing the decision to the Fifth Circuit Court of Appeals. The appeal follows an April 7 decision by District Judge Matthew J. Kacsmaryk, who invalidated the mandate’s minimum hourly staffing requirements.

6 days ago | skillednursingnews.com | Zahida Siddiqi

PACS Group (NYSE: PACS) is amending its credit agreement with lenders to address delays in filing its required financial reports with the Securities and Exchange Commission (SEC), stating that there are “no guarantees” it will meet a November deadline to avoid a potential delisting from the New York Stock Exchange.