NIC reports occupancy decline
Skilled nursing property occupancy dropped to 81.6% at the end of the first quarter, according to a new National Investment Center for Seniors Housing & Care Skilled Nursing Data Report.
It showed that the occupancy decreased 30 basis points from the prior quarter and was down 210 basis points year-over-year, including both urban and rural areas. Results also showed an increase in revenue coming from Medicare.
While the Medicare revenue mix for urban area properties was up quarter-over-quarter, at 23.7%, it was far below previous first-quarter highs of approximately 28%, last seen in 2015.
“The increase in business from Medicare and Managed Medicare during the first quarter suggests that seasonality and the winter flu season may be influencing the data, which we expect to see,” said Bill Kauffman, senior principal at NIC.