Effective and rapid COVID-19 testing — not just a vaccine — will put skilled nursing facilities back on a path toward normalization after being ravaged by the public health crisis, according to Sabra Health Care REIT Inc.’s top executive.
“We have more testing now than we’ve obviously had in the past. We still don’t have enough, but once we get to really adequate and effective rapid testing, we’ll begin the path to complete normalization in the facilities,” Sabra Chairman and Chief Executive Rick Matros reported during the company’s third-quarter earnings call in November.
“We’ll be able to test quickly, screen people better and have a more normal environment within the facility because the social isolation component of dealing with the pandemic has been extremely tough on our patients, our residents and their families,” he added.
The federal government in mid-October announced a partnership with pharmacy retailers CVS and Walgreens to administer the coronavirus vaccines — once available — free of charge to long-term care facilities. The expectation is that a vaccine will be ready for distribution later this year or in early 2021.
Matros noted that he’s been skeptical about the distribution of a potential coronavirus vaccine, but comments from federal and industry leaders have indicated that it should be ready between January and February. He said if that’s true, then it will “accelerate the normalization of the business.”
“I’m cautiously optimistic, but we shall see. I still have some level of skepticism there and still [am] focused on testing as being the most immediate answer to the challenges that these states are currently facing,” Matros said.
The company also reported that its average quarterly occupancy for its skilled nursing/transitional care portfolio decreased 134 basis points during the third quarter.
From the December 2020 Issue of McKnight's Long-Term Care News
