CLA (CliftonLarsonAllen) has issued its 35th edition of the Skilled Nursing Facility (SNF) Cost Comparison and Industry Trends Report. This report, based on 2019 data, provides national operating and financial metrics for SNFs, which allows facilities to see how their performance compares to others.
Due to the impact of COVID-19, skilled nursing providers have been focused on Provider Relief Funds (PRF), personal protective equipment (PPE), and the Paycheck Protection Program (PPP). However this year’s report reminds SNF operators not to lose sight of per patient day costs (PPDs), staffing levels, and reimbursement opportunities.
This year’s report identified key trends, which include the following:
- Cash burn has caused great concern
- Occupancy is way, way down
- Operators can’t afford a Patient-Driven Payment Model (PDPM) misstep
- Telehealth isn’t going anywhere
- SNF M&A activity continues to flourish
“While we note in our report that SNF operations will have to continue ‘blocking and tackling,’ operators should look to the horizon with a sense of optimism,” said Cory Rutledge, who leads CLA’s senior living practice. “Though COVID-19 has forced many SNFs into survival mode for much of 2020, we encourage operators to remain focused on the fundamentals, and then begin looking for future opportunities as soon as they are able.”
Download the 35th SNF Cost Comparison and Industry Trends Report at CLAconnect.com/SNF20.
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