Why Nursing Home Revenue Is Declining

While expenses continue to rise, revenue is declining for nursing homes according to a report provided by @MarcumLLP.

This article from @skilled_nursing outlines how nursing homes arrived to an average loss of four cents per patient day in 2017. A combination of lower occupancy rates along with many residents now being enrolled in managed care programs, typically paying less than standard programs, are impacting revenue.

With PDPM On The Horizon, SNFs Must Continue To Focus

With the new PDPM model less than six months away, SNFs will need to continue to focus on their day-to-day deliverables to ensure their STAR rating, hospital readmissions and other details are not impacted.

This article from @skilled_nursing notes how the transition from the RUG-based world to PDPM, a monumental payment overhaul, could easily steal the attention of Providers.

“The Greatest Opportunity” For SNF’s

When contemplating what solutions might help SNF’s thrive in the future, one suggestion would be to evolve into a short-stay facility that would essentially cut the emergency room “out of the equation entirely”.

This article from @skilled_nursing notes “the greatest opportunity” would be for SNF’s to partner with Medicare Advantage plans and prove their ability to provide high-quality care.

Medicare Advantage- Coordinated, Value-Based Care

Thanks to the care navigation that Medicare Advantage provides, consumers are experiencing value and simplicity. For several reasons, MA enrollment has increased over 30% in the past four years.

A privately-run system rather than government-run, MA is proving to be valuable to consumers in both quality of care as well as financially. Through care navigation, MA makes it easier to navigate the healthcare system as well as choose a provider.

This article from healthcarefinancenews.com describes how Medicare Advantage has rebranded itself through time, detailing out major players in the game and its trajectory for the future.

Skilled Nursing Facilities Payment Will Be Impacted By PDPM

When the Patient-Driven Payment Model (PDPM) takes effect in October 2019, Payers using the RUG system will have until September 30, 2020 to adjust their rate calculations.

With the variety of changes nearing, SNF staff will be forced to pay closer attention than ever before to their coding and billing.

This article from @skilled_nursing sheds light on this, detailing out suggestions for SNF’s to consider when approaching the changes to come.

Medicare Advantage Is The Future Of Medicare

During a discussion at a San Diego skilled nursing conference, former Speaker of the House Paul Ryan stated “I believe the future for Medicare is in the Medicare Advantage type of space”.

In this conversation, Ryan praised Medicare Advantage plans as a means of preventing financial disaster to the Medicare program.

Currently Medicare Advantage plans cover around 34% of all seniors, with a 42% predicted penetration by the year 2028.

For more on this, read this interesting article from @skilled_nursing.

SNF’s Anticipate 6% Increase In Liability Claims This Year

According to the American Health Care Association and professional services firm Aon, nursing homes will see a 6% increase in liability claims this year, composed of a 3% increase in claims frequency and a 3% increase in claim size.

Providing little to no write-offs, Access Advantage helps our members get the most possible dollars out of each claim. When times are challenging, and money is tight, it’s good to have a trusted advisor working with you every step of the way!

Read this informative article from @mcknightsltcn for more on this.

Skilled Nursing Facilities Struggle With Inefficient Transfers

Choosing the right SNF is a very important decision for patients and families when transferring from the hospital. If a SNF that does not meet their need is selected, they run a much higher risk of re-hospitalization, longer length of stay and mortality. This article from @skilled_nursing details out how @UnitedHospFund and others are looking to remedy this issue.