NIC releases first report in new SNF data series
The National Investment Center for Seniors Housing & Care (NIC) released its first report dedicated to skilled nursing facilities (SNFs) in a new initiative to provide better data for investors. The information analyzed includes the impact of declining length of stay on occupancy levels, data on case mix ratios and the effects of managed care, including Medicare Advantage plans, on SNF revenue.
The first NIC Skilled Nursing Data Report includes four years of comparative data, through and including December 2015. NIC plans to release new data every quarter.
Much of the existing analytics available on the seniors housing market are based on data that can be a year old or more, whereas the NIC reports will use data that is only 60 to 90 days old, explained Bill Kauffman, NIC Senior Principal of Research & Analytics, during a press briefing Wednesday. "This [SNF] sector produces tons and tons of data," he said. "But the data that rolls up to the government reports is dated. It tells you what was, not what is."
NIC has traditionally focused on providing investors with education, transparency, data and analytics on everything from market trends to bed census and per-day reimbursement rates. Four words dominate today’s conversations in seniors housing and investment, said Bob Kramer, NIC CEO, during the press briefing: "Partnership, data, risk and outcomes."
"As the industry grows, it’s critically important for operators to know are they really maximizing the revenue they can get out of their community? They need good, competitive data from a third-party source," he added.
While other types of seniors housing and care are experiencing a vibrant building boom, investors have shied away from the skilled nursing sector. To compound the issue, many skilled nursing properties are aging quickly and are in need of capital renovations or rebuilds. "Fifty percent of the stock out there was built before 1980," Kauffman said. "Yet, [SNFs are] a high risk environment. What’s going to shake out with bundled payments? No one really knows. In a high-risk environment, it’s all the more important to have good, current data."
Access the NIC Skilled Nursing Data Report report here.
Pamela Tabar was editor-in-chief of I Advance Senior Care from 2013-2018. She has worked as a writer and editor for healthcare business media since 1998, including as News Editor of Healthcare Informatics. She has a master’s degree in journalism from Kent State University and a master’s degree in English from the University of York, England.
Topics: Housing , Medicare/Medicaid