Covid-19 News Bulletin: Les cas de vie assistée Covid-19 dépassent les 700; L’occupation a légèrement baissé avant la pandémie – Gratuit : Audit complet de votre site internet

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Covid-19 News Bulletin: Les cas de vie assistée Covid-19 dépassent les 700; L'occupation a légèrement baissé avant la pandémie
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Senior Housing News reconnaît la gravité de la pandémie de Covid-19, nous mettrons donc à jour ce bulletin pour vous tenir au courant des derniers développements, en nous concentrant sur les nouvelles et informations que nous identifions comme particulièrement pertinentes pour les personnes âgées. L’équipe de SHN sait à quel point votre travail est important en ce moment; nous vous remercions, vous et vos équipes, et vous encourageons à nous contacter individuellement ou au editor@seniorhousingnews.com avec des actualités, des sujets que vous jugez importants pour la couverture ou d’autres commentaires.

Bulletin du jeudi 9 avril 2020:

L’occupation des logements pour personnes âgées au T1 2020 était de 87,7%, soit une légère baisse par rapport à 88% au trimestre précédent, selon les données publiées jeudi par le National Investment Center for Seniors Housing & Care (NIC).

Étant donné que l’épidémie de Covid-19 aux États-Unis n’a pris racine qu’à la mi-mars, ces données devraient être considérées comme une référence pour déterminer le taux d’occupation avant la pandémie, a déclaré NIC dans un communiqué de presse jeudi.

«Les données du premier trimestre constitueront une référence importante pour aller de l’avant en ces temps sans précédent, l’occupation et les débuts de la construction étant remis en cause par des circonstances indépendantes de la volonté de tout le monde», a déclaré Chuck Harry, directeur de l’exploitation de NIC. «La première priorité de l’industrie est de veiller à ce que les soignants de première ligne soient les mieux placés pour assurer la santé et la sécurité des résidents, ainsi que leur propre bien-être et celui de leur famille.

Le taux d’occupation des communautés de vie indépendantes majoritaires s’est établi à 89,9% au premier trimestre 2020, soit une baisse de 10 points de base par rapport au trimestre précédent.

L’occupation des logements avec assistance a baissé de 20 points de base par rapport au trimestre précédent, pour s’établir à 85,3%. Le plus bas record pour AL, établi en 2019, était de 85,1%.

Afin de déterminer comment Covid-19 pourrait affecter l’occupation des logements pour personnes âgées, NIC a mené une enquête auprès des dirigeants entre le 24 et le 31 mars. Cela a montré que l’occupation était restée stable, les deux tiers des répondants ayant déclaré que les taux d’occupation n’avaient pas changé par rapport au mois précédent.

Cependant, les fiducies de placement immobilier ont signalé un ralentissement des emménagements au cours de la seconde moitié de mars. Certains analystes de l’industrie ont averti que l’occupation pourrait atteindre des niveaux historiquement bas en raison de la pandémie.

Rapports populaires

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Au cours des quatre derniers trimestres, les mises en chantier de nouvelles constructions sur les principaux marchés de NIC ont totalisé 17 062, le moins depuis 2014.

« La décélération de la construction de logements avec assistance commence à préfigurer un nouveau ralentissement de la construction de nouveaux logements pour personnes âgées associée aux effets de la pandémie de COVID-19 », a déclaré Beth Mace, économiste en chef de NIC, dans le communiqué de presse de jeudi. «De nombreux bailleurs de fonds et fournisseurs de capitaux attendent plus de clarté sur la façon dont la pandémie se déroulera pour comprendre son impact sur l’économie en général.»

Aussi dans l’actualité:

– Les établissements de vie assistée dans 29 États traitent plus de 700 cas confirmés de Covid-19, a rapporté jeudi Kaiser Health News (KHN), citant les autorités de la santé publique et les agences de presse.

« Les complexes de vie assistée, qui abritent plus de 800 000 personnes dans le pays, sont rapidement devenus un théâtre nouveau et dangereux dans la guerre contre les coronavirus », ont écrit les journalistes Laura Ungar et Jay Hancock dans leur article, également publié dans USA Today. «Confrontés à des pressions financières accrues, à des résidents plus malades, à une surveillance limitée et à trop peu d’employés, ils sont désormais confrontés à une crise qui pourrait forcer les entreprises à faire faillite, à propulser l’industrie et même à fermer certaines installations – mettant les personnes âgées fragiles à un risque plus grand que jamais.»

– Les actions des propriétaires et exploitants de logements seniors cotées en bourse se sont redressées jeudi alors que les marchés boursiers ont bondi à l’annonce de nouvelles actions de la Réserve fédérale pour soutenir l’économie. Parmi les plus grands gagnants, Brookdale Senior Living (NYSE: BKD) était en hausse de 17,61% à la clôture du marché; Ventas (NYSE: VTR) est en hausse de 12,18%; et Capital Senior Living (NYSE: CSU) a augmenté de 28,88%, bien que ses actions se négocient toujours en dessous de 1,00 $.

Au cours de la semaine, le S&P 500 a enregistré son plus important gain sur une semaine depuis 1974, de 12,1%. Le Dow Jones Industrial Average a également gagné plus de 12%. Les marchés sont fermés vendredi à l’occasion du Vendredi Saint.

– Sienna Senior Living (TSX: SIA), qui exploite 83 résidences dans les provinces canadiennes de l’Ontario et de la Colombie-Britannique, a retiré ses prévisions pour 2020 à la lumière de Covid-19. Le gouvernement de l’Ontario a alloué 243 millions de dollars pour soutenir les foyers de soins de longue durée et 20 millions de dollars pour soutenir les maisons de retraite, tandis que le gouvernement de la Colombie-Britannique a alloué 10 millions de dollars pour les foyers de soins de longue durée, a noté Sienna dans un communiqué de presse jeudi.

«Nous continuons de croire que les fondamentaux de Sienna restent solides avec un bilan solide et une liquidité abondante. À l’heure actuelle, la société dispose d’environ 215 millions de dollars de liquidités et d’un pool d’actifs non grevés d’environ 540 millions de dollars », indique le communiqué de presse.

– Les communautés de personnes âgées en Californie mettent en œuvre des politiques plus strictes concernant les résidents qui rentrent après un séjour à l’hôpital, a rapporté le San Diego Union-Tribune.

Bulletin du mercredi 8 avril 2020:

Le plan de relance de 2 000 milliards de dollars de la CARES Act comprenait 100 milliards de dollars de secours pour les prestataires de soins de santé. Les premiers 30 milliards de dollars sont décaissés cette semaine et les prestataires de services aux personnes âgées ne reçoivent aucun de ces fonds.

Seema Verma, administrateur des Centers for Medicare & Medicaid Services (CMS), a annoncé mardi soir la distribution de 30 milliards de dollars. L’argent est réparti entre les prestataires de soins de santé en fonction de leurs revenus Medicare, et les prestataires qui dépendent d’autres sources de revenus ne font pas partie de cette première vague de distribution. Verma a appelé les maisons de soins infirmiers – qui dépendent principalement des dollars Medicaid – comme étant parmi les prestataires qui recevront de l’argent au cours de la deuxième vague.

Cependant, elle n’a pas mentionné les prestataires de services aux personnes âgées qui dépendent principalement des revenus privés, comme les communautés de vie assistée et de soins de la mémoire. Pourtant, les fonctionnaires fédéraux ont indiqué que les personnes âgées pourraient être admissibles à certains des 100 milliards de dollars de soins de santé alloués.

« Selon Mme Verma, il y aura un deuxième cycle de financement où la priorité sera accordée aux hôpitaux pour enfants, aux pédiatres, aux maisons de soins infirmiers et à d’autres prestataires qui reçoivent une grande partie de leur financement d’autres sources », ont observé les analystes de Mizuho dans une note publiée mercredi. Covid-19 a également un impact sur Covid-19, et les grands exploitants de logements pour personnes âgées ne seront probablement pas éligibles aux prêts SBA car compte souvent plus de 500 employés étant donné la nature hautement tactile / à forte intensité de main-d’œuvre de l’entreprise. »

Argentum et l’American Seniors Housing Association (ASHA) ont demandé à plusieurs reprises que 20 milliards de dollars soient alloués aux prestataires de services aux personnes âgées, le plus récemment dans une lettre adressée au secrétaire à la Santé et aux Services sociaux, Alex Azar. Dans cette lettre, ils ont partagé une analyse tierce montrant que l’industrie pourrait faire face à un coup financier de 57 milliards de dollars en raison de Covid-19.

Pendant ce temps, les petits fournisseurs tentent de tirer parti du programme de prêts remboursables SBA, mais cela a pris un départ difficile.

Aussi dans l’actualité:

– Brookdale Senior Living (NYSE: BKD) recrute pour plus de 4 500 postes, a annoncé mercredi le fournisseur basé à Brentwood, dans le Tennessee.

Les fournisseurs de services aux personnes âgées de tout le pays ont déployé des efforts d’embauche concertés, confrontés à des pressions de personnel dues à Covid-19. Ils cherchent à remplir une variété de rôles alors même que des millions d’autres travailleurs américains ont été licenciés, et font des efforts pour recruter des travailleurs de l’hospitalité et de la restauration sans emploi en particulier.

Le grand nombre de postes ouverts à Brookdale reflète l’échelle de l’entreprise: avec plus de 740 communautés à travers le pays, Brookdale est le plus grand fournisseur de logements pour personnes âgées aux États-Unis de loin. Les postes ouverts comprennent les infirmières autorisées, les infirmières auxiliaires certifiées, les soignants, le ménage, la restauration et d’autres rôles. La société a récemment créé un poste de «préposé au service en chambre», étant donné que la société a opté pour les repas en chambre en tant que mesure de distanciation sociale.

«Bien que ces postes puissent initialement être considérés comme une solution temporaire par des individus, nous espérons que ces nouveaux associés trouveront un but et un sens dans une carrière chez Brookdale, et la prise de conscience que c’est une excellente occasion de faire partie de quelque chose de plus grand qu’eux », A déclaré Lucy Leeming, vice-présidente principale de la gestion des talents chez Brookdale.

– Covid-19 a mis la télésanté au premier plan et les nouveaux résultats du sondage de SYKES montrent que les personnes âgées adoptent la technologie. Sur environ 400 répondants de plus de 55 ans, 52% ont déclaré que Covid-19 avait accru leur volonté d’essayer la télésanté, selon des données non publiées partagées avec Senior Housing News.

Environ 50% des répondants plus âgés ont déclaré qu’ils envisageraient un rendez-vous en télésanté, bien que seulement 12% en aient déjà eu un. Le plus grand moyen de dissuasion de la télésanté, cité par 43% des plus de 55 répondants, était le scepticisme quant au fait qu’ils pouvaient être correctement diagnostiqués ou traités par la télésanté.

– Plus de plans Medicare Advantage offrent des avantages supplémentaires qui couvrent les services couramment fournis dans la vie des seniors, selon une nouvelle étude de la Better Medicare Alliance et menée par Milliman.

«La pandémie de coronavirus a mis en évidence de manière déconcertante la nature profondément personnelle des soins de santé, en particulier pour les personnes âgées. Comme le montre cette étude, Medicare Advantage continue d’innover avec de nouveaux outils pour aider les personnes âgées à rester sur la voie du bien-être, y compris des avantages tels que la télésanté et la livraison de repas qui peuvent assurer la sécurité des personnes âgées à la maison », a déclaré Allyson Y. Schwartz, président et chef de la direction de la Better Medicare Alliance, dans un communiqué de presse.

Bulletin du mardi 7 avril 2020:

Les emménagements en mars 2020 ont diminué de 50% par rapport à mars 2019 pour les portefeuilles de logements pour personnes âgées en exploitation et en soins continus (CCRC) de Healthpeak Properties (NYSE: PEAK).

Par rapport à février 2020, les emménagements SHOP et CCRC ont baissé de 41% le mois dernier, a rapporté mardi la fiducie d’investissement immobilier basée à Irvine, en Californie. Ensemble, SHOP et le portefeuille CCRC représentent 27% du résultat opérationnel net de l’entreprise.

Au 31 mars, l’occupation totale mixte dans le portefeuille SHOP / CCRC était de 83,4%. C’était en baisse de 83,8% le 29 février.

«Les emménagements étaient conformes à nos attentes jusqu’à la mi-mars», a déclaré Healthpeak dans sa mise à jour Covid-19 du 7 avril. «Par la suite, les emménagements ont décliné en réponse aux protocoles COVID-19, s’abritant sur place et réduit les visites en personne.»

Les prospects pour mars 2020 ont diminué de 32% par rapport à mars 2019. Cependant, les ratios de conversion d’un mois à l’autre du FPI se sont améliorés, ce qui suggère que les demandes de renseignements émanent de personnes ayant un désir ou un besoin plus urgent de déménager.

D’autres FPI ont également signalé un ralentissement des emménagements à partir de la mi-mars, avec l’escalade de la crise de Covid-19 aux États-Unis. Les analystes financiers observant l’espace ont averti que la pandémie pourrait conduire à des taux d’occupation historiquement bas. Cependant, l’occupation semble avoir relativement bien résisté au cours du dernier mois, selon les données compilées par le National Investment Center for Seniors Housing & Care (NIC).

Même si les emménagements ont ralenti et que l’occupation a diminué, les FPI signalent également moins de déménagements volontaires. Healthpeak prévoit une réduction des déménagements volontaires, bien que la société ne prédit pas encore dans quelle mesure Covid-19 affectera ces chiffres. Les déménagements volontaires représentent environ un tiers du total des déménagements de Healthpeak.

À l’avenir, Healthpeak prévoit que l’occupation du SHOP diminuera d’environ 2% à 4% par mois et l’occupation du CCRC baissera d’environ 1% par mois en raison de Covid-19. Le FPI pourrait envisager des reports de loyer pour ses exploitants de baux triple net.

Les opérateurs sont également confrontés à une augmentation des coûts en raison de la situation des coronavirus. Les coûts de main-d’œuvre devraient augmenter entre 5% et 15% pendant la pandémie, a déclaré Healthpeak. Les achats d’équipements de protection individuelle représentent généralement 2% des coûts totaux, mais cela devrait augmenter de deux à cinq fois.

Actuellement, 22 communautés Healthpeak gérées par neuf opérateurs différents ont confirmé des cas de Covid-19 parmi la population résidente, et des résidents sont morts de la maladie dans 11 communautés, a rapporté le FPI.

Aussi dans l’actualité:

– Argentum et l’American Seniors Housing Association (ASHA) ont lancé «Senior Living FastMatch», un outil pour aider à mettre en relation les travailleurs licenciés avec des opportunités de vie pour les seniors. Propulsé par la technologie d’Arena, l’outil exploite l’intelligence artificielle pour faire correspondre les demandeurs d’emploi d’autres industries avec des postes de cadres supérieurs disponibles dans leur région. Les fournisseurs peuvent publier des offres d’emploi sur FastMatch sans frais jusqu’au 30 septembre 2020.

«Les travailleurs de l’hôtellerie, de la restauration et de la vente au détail sont particulièrement touchés par la crise actuelle, et Argentum travaille avec l’American Hotel & Lodging Association pour aider à relier ces travailleurs à la vie des seniors», a déclaré le président-directeur général d’Argentum, James Balda. «Ils apportent des compétences et une expérience qui conviennent parfaitement à de nombreux postes de cadres supérieurs, tels que les concierges, les professionnels de la restauration et les femmes de ménage. Cet outil de recherche de talents fournit la technologie et l’occasion d’aider rapidement les travailleurs et les fournisseurs à se connecter en cas d’urgence. »

De plus, OnShift a créé une boîte à outils élargie pour aider les prestataires dans leurs efforts de recrutement et d’embauche.

– KARE, une «application numérique du marché du travail», se développe sur de nouveaux marchés et a ajouté des fonctionnalités en réponse à la pandémie de Covid-19. La startup a également révélé que ses bailleurs de fonds incluent un who’s who des leaders de l’industrie, dont le fondateur de NIC, Bob Kramer.

L’application connecte les «héros» des soignants à des quarts de travail non comblés dans les communautés de personnes âgées et de soins, offrant aux prestataires un meilleur taux qu’une agence de recrutement classique tout en donnant aux travailleurs plus d’autonomie et un accès rapide aux revenus. L’application a été lancée en octobre 2019 à Houston et Austin et se déploie désormais sur d’autres marchés du Texas, notamment Dallas / Fort Worth et San Antonio. Atlanta, en Géorgie, est à l’affiche le mois prochain.

«En raison du besoin désespéré de soignants en cette période de crise, nous sommes reconnaissants à KARE d’être en mesure d’aider rapidement les communautés de soins aux seniors à trouver rapidement du personnel pour s’occuper de leurs résidents», a déclaré Bridget Kaselak, responsable de la croissance de KARE, dans une presse. Libération. « Et en raison des préoccupations concernant les agents de santé contribuant à la propagation du virus, nous avons peaufiné notre technologie pour aider à atténuer cette préoccupation d’une manière qu’une agence de recrutement traditionnelle ne peut pas pour se conformer aux restrictions étatiques ou locales. »

Plus précisément, aucun soignant ne pourra s’enregistrer pour un quart de travail sans lire et reconnaître les procédures de contrôle des infections particulières à cet endroit, a déclaré le PDG de KARE, Charles Turner à SHN. En outre, un «commutateur» a été ajouté pour les zones dans lesquelles les mouvements de personnel entre les différentes installations ont été restreints. Lorsque l’interrupteur est actionné, les soignants de cette zone seront affectés à un établissement particulier et ne pourront pas travailler dans d’autres, et toutes les communautés locales seront informées.

En plus de Kramer, KARE est soutenu par des organisations telles que Bridge Real Estate Group et des leaders avec des fournisseurs tels que Frontier Management, Seasons Living, Caraday Healthcare, Principal Senior Living, Benton House, Sodalis Senior Living et d’autres.

– Un lycée de Chicago a dédié ses imprimantes 3D à la fabrication de masques faciaux pour les prestataires de services aux seniors, à commencer par Silver Birch.

– MyndVR, une entreprise spécialisée dans la fourniture de technologies de réalité virtuelle aux prestataires de soins et de soins aux seniors, offrira gratuitement un casque VR et un abonnement de contenu d’un an aux communautés des 50 États. Le programme vise à réduire l’isolement social lié à Covid-19.

Bulletin du lundi 6 avril 2020:

Le ministère de la Santé et des Services sociaux (HHS) devrait confirmer que les prestataires de services aux personnes âgées ont bénéficié de certaines protections légales pendant la pandémie de Covid-19, a déclaré Argentum et l’American Seniors Housing Association (ASHA) dans une lettre datée du 3 avril au secrétaire du HHS, Alex Azar. .

Le 17 mars, HHS a publié une déclaration en vertu de la Loi sur la préparation du public et la protection civile (PREP). La déclaration confère une immunité de responsabilité – sauf en cas de «faute intentionnelle» – à «certaines personnes et entités» liées à leur entreprise de «contre-mesures critiques» pour lutter contre la pandémie de Covid-19.

« Pour que les communautés de personnes âgées répondent à Covid-19 de la manière qui sert le mieux les intérêts des personnes âgées résidant dans leurs communautés, la protection contre la responsabilité accordée aux personnes couvertes par la loi PREP devrait s’appliquer aux communautés de personnes âgées et à leurs employés, »A déclaré la lettre à Azar. «Nous exhortons le Secrétaire à confirmer cette interprétation de manière accélérée afin de supprimer les obstacles actuels et prévus aux soins pour les personnes âgées du pays.»

Une telle confirmation donnerait l’assurance que les prestataires de services aux personnes âgées bénéficient d’une protection contre la responsabilité liée à des services tels que l’administration de médicaments aux résidents atteints de Covid-19. Si HHS détermine que les prestataires de services aux personnes âgées ne sont pas couverts par la déclaration telle qu’elle existe actuellement, Argentum et ASHA exhortent l’agence à modifier la déclaration.

Aussi dans l’actualité:

– Strategic Student Housing & Senior Housing Trust (SSSHT), une fiducie publique d’investissement immobilier non négociée parrainée par SmartStop Asset Management, a cessé de vendre des actions au public en raison des conditions de marché changeantes causées par Covid-19, a rapporté lundi CoStar.

SmartStop compte environ 1,9 milliard de dollars d’actifs immobiliers dans son portefeuille, dont 117 établissements de libre-entreposage aux États-Unis et à Toronto, et a vu une opportunité dans le logement pour personnes âgées.

«Comme le self-stockage il y a 15 ans, les classes d’actifs étudiants et seniors sont un peu en deçà du radar», a déclaré John Strockis, président et directeur des investissements de SSSHT, à Senior Housing News en octobre 2019. «Nous voulons vraiment mettre en parallèle ce que nous a fait avec le self-stockage il y a 15 ans… les acquérir, les comprendre, les valoriser. »

En octobre, SSSHT avait acquis quatre résidences pour personnes âgées, exploitées par Integral Senior Living (ISL) et MBK Senior Living. À cette époque, la société levait des capitaux supplémentaires et envisageait une marque pour son portefeuille de logements pour personnes âgées.

– Selon un rapport du GAO (Government Accountability Office), les hôpitaux ont rencontré des problèmes lors de la sortie des patients vers certains établissements de soins post-aigus, y compris des établissements de soins infirmiers qualifiés et ceux dispensant des «soins de niveau inférieur».

«Un hôpital a signalé un cas dans lequel un établissement de soins de courte durée a refusé de prendre un patient à moins que l’hôpital ne leur envoie une semaine de masques pour le patient et pour le personnel qui prendrait soin du patient, même si le patient n’était pas positif pour Covid-19 », indique le rapport. « Les retards dans la réception des résultats des tests ont contribué à des retards dans le transfert des patients vers ces installations de niveau inférieur et dans la libération des lits dans les hôpitaux pour les patients entrant Covid-19. »

Toutes les communautés de personnes âgées hésitent à accepter des patients hospitalisés. Certains prestataires, comme Phoenix Senior Living, collaborent avec les systèmes de santé locaux pour gérer de manière proactive la capacité en prenant en charge des patients de moindre acuité.

– En partie à cause de la baisse des évaluations des logements pour personnes âgées, l’indice des prix des propriétés commerciales de Green Street a diminué de 1,3% en mars. L’indice est une série chronologique de valeurs de propriétés commerciales américaines sans effet de levier qui reflète les prix des transactions de propriétés commerciales – y compris certaines qui n’ont pas encore été conclues – pour une gamme de types d’actifs. La baisse de mars est principalement attribuable à la baisse des évaluations de l’hébergement, des centres commerciaux et des logements pour personnes âgées, en raison des préoccupations de Covid-19, selon un communiqué de presse de Green Street.

«Les marchés immobiliers sont dans une période d’ajustement; il faudra du temps aux acheteurs et aux vendeurs pour comprendre ce qu’est un nouveau prix équitable », a déclaré Peter Rothemund, directeur général de Green Street Advisors. «La plupart des gens reconnaissent que les prix seront plus bas, mais la question est de savoir combien. Il n’y a pas qu’une seule bonne réponse. Les prix de certains types de propriétés devraient se maintenir relativement bien, tandis que les plus touchés pourraient voir une baisse de 30%. »

– Bloom Senior Living et Assured Assisted Living ont rejoint les rangs des prestataires proposant des tests Covid-19. Bloom, une entreprise familiale, a établi un partenariat avec les Laboratoires d’assurance scientifique basés en Alabama pour effectuer des tests pour les résidents et les associés sur tous les sites de l’entreprise. Bloom est basée à Birmingham, au Mississippi, et exploite neuf communautés à travers l’Indiana, l’Ohio, la Caroline du Sud, la Louisiane et la Floride.

Assured Assisted Living exploite 10 communautés de soins de la mémoire dans et autour de Denver et Castle Rock, Colorado. La société travaille avec Centennial State Lab pour commencer à tester tous les résidents entrants pour Covid-19 à partir de cette semaine. Les résidents potentiels seront testés chez eux dans le cadre d’une évaluation initiale des soins. Les personnes ayant besoin d’un placement immédiat iront dans un foyer de soins spécialisés pour une période de quarantaine.

«Lorsque nous recevons des résultats de test négatifs, nous pouvons emmener les résidents immédiatement et assurer la tranquillité d’esprit à nos familles et à notre personnel actuels», a déclaré Francis LeGasse, dans un communiqué de presse de lundi. «Nous nous engageons à 100% à fournir l’environnement le plus sûr possible tout en aidant ceux qui ont besoin de soins et qui souhaitent passer à un environnement de vie assistée avec un soutien de la mémoire.»

– Dans une nouvelle plus brillante pendant la pandémie, les résidents de l’Enclave à Round Rock – un bâtiment de Spectrum Retirement Communities à Austin, Texas – ont organisé une soirée de bingo virtuelle avec un hôte spécial: l’acteur oscarisé Matthew McConaughey.

« En septembre dernier, les résidents et les membres de l’équipe de l’Enclave ont publié une vidéo sur les réseaux sociaux demandant à McConaughey de se joindre à eux pour le bingo », a rapporté l’affilié de CBS KEYE. « Au milieu de la pandémie de Covid-19, McConaughey a eu le temps et la capacité de répondre à cet appel. »

Bulletin du samedi 4 avril et du dimanche 5 avril:

Welltower (NYSE: WELL) aurait, semble-t-il, annulé une offre d’achat d’une entreprise basée à Londres avec plus de 200 maisons de soins au Royaume-Uni.

La fiducie de placement immobilier (FPI) basée à Toledo, en Ohio, était auparavant intéressée à acquérir Barchester Healthcare pour un prix de vente d’au moins 2,5 milliards de livres sterling, soit environ 3,1 milliards de dollars. Mais l’entreprise a désormais abandonné son offre, selon un nouveau rapport paru dans le Sunday Times.

On ne savait pas immédiatement pourquoi Welltower avait abandonné son offre maintenant, et le FPI a refusé de commenter lorsqu’il a été contacté par Senior Housing News samedi. Mais la société a concentré son feu ces dernières semaines sur le ralentissement de la propagation de Covid-19 comme ses propriétés. Au 1er avril, Covid-19 avait touché 116 résidents dans 45 des communautés de Welltower à travers les États-Unis. Le taux d’occupation du portefeuille d’exploitation de logements seniors (SHOP) de Welltower était de 85,4% au 27 mars, une baisse par rapport au taux d’occupation de 85,6% que la société a déclaré le 13 mars 2020.

Pendant ce temps, Welltower fait le plein de ses fournitures d’équipement de protection individuelle (EPI). Mercredi dernier, la société a déclaré qu’elle avait acheté ou s’efforçait de se procurer 400 000 paires de gants, 250 000 masques faciaux et 120 000 blouses d’isolement en plus d’un désinfectant pour les mains, de désinfectants et de thermomètres sans contact. Le FPI prévoit de distribuer les fournitures à partir d’un centre nouvellement créé à Dallas.

Welltower n’était pas la seule société de logement pour personnes âgées aux États-Unis à vouloir acheter la société de maisons de soins infirmiers du Royaume-Uni. La banque d’investissement américaine JP Morgan a également proposé à la société une gamme de différents acheteurs potentiels, dont Ventas, basée à Chicago (NYSE: VTR) et la société d’investissement basée à Seattle, Columbia Pacific Advisors.

La banque d’investissement australienne Macquarie a ensuite pris les devants dans le processus d’appel d’offres, mais a finalement abandonné le processus l’année dernière en raison de l’incertitude concernant le processus du Brexit, a rapporté le Sunday Times.

SHN n’a pas été en mesure de joindre un représentant de Ventas ou de Columbia Pacific à partir de dimanche après-midi.

Aussi dans l’actualité:

– Si les emménagements s’arrêtent en raison de Covid-19, l’occupation des logements pour personnes âgées pourrait être réduite de moitié, tombant en dessous de la barre des 70%, a déclaré l’analyste de BMO Marchés des capitaux, John Kim, à Bloomberg. (Note de la rédaction: Senior Housing News a parlé à Kim de ses projections lundi matin. Cliquez ici pour en savoir plus.)

Mardi dernier, lors d’un appel de revenus pour Capital Senior Living (NYSE: CSU), le directeur général de Barclays, Steven Valiquette, a noté qu’une baisse de 2 500 points de base de l’occupation flottait parmi la communauté des investisseurs en tant que scénario potentiel Covid-19. Le PDG de Capital, Kim Lody, et le directeur de l’exploitation Brandon Ribar, ont déclaré qu’ils ne voyaient jusqu’à présent aucune indication d’une baisse aussi spectaculaire.

Et l’occupation semble être restée stable au cours des premières semaines de l’épidémie de Covid-19 aux États-Unis. L’occupation n’a pas changé ou augmenté au cours du dernier mois, selon les trois quarts des cadres supérieurs du logement qui ont répondu à une enquête du National Investment Center for Seniors Housing & Care réalisée entre le 24 mars et le 31 mars.

Mais les analystes jouent les pires scénarios et réagissent aux fortes baisses des capitalisations boursières des propriétaires et des opérateurs cotés en bourse. Les FPI de logements pour personnes âgées sont essentiellement «non investissables» compte tenu des incertitudes actuelles, a déclaré à Bloomberg l’analyste de Jeffries, Jonathan Petersen.

– Les emménagements en mars ont diminué de 30% par rapport aux moyennes de janvier et février de New Senior (NYSE: SNR). La fiducie de placement immobilier basée à New York possède un portefeuille de 102 communautés de vie indépendante dans des contrats de gestion et un actif dans un bail triple net, avec Holiday Retirement son principal partenaire opérationnel.

Les emménagements ont commencé à décliner à la mi-mars, alors que l’épidémie de Covid-19 aux États-Unis s’intensifiait, freinant les visites physiques et les nouveaux emménagements, a rapporté vendredi le FPI dans une présentation mise à jour sur la façon dont la pandémie affecte son portefeuille.

Il y a aussi de bonnes nouvelles, sous la forme de moins de déménagements. Les avis de déménagement d’avril sont inférieurs de 20% par rapport à la mesure comparable de mars. Et le volume des tournées a augmenté au cours de la dernière semaine de mars en raison du déploiement des visites virtuelles.

Au 2 avril, huit communautés gérées par trois opérateurs différents avaient confirmé des cas de Covid-19, touchant 18 résidents et un employé. Plus de 120 résidents et membres du personnel ont été testés pour Covid-19. Jusqu’à présent, 84% des tests sont revenus négatifs, mais New Senior s’attend à ce que les cas confirmés augmentent à mesure que les tests deviennent «plus largement et plus facilement disponibles».

«Nous tenons à remercier et féliciter à nouveau tous nos exploitants et le personnel de nos collectivités, qui continuent de servir nos résidents avec un soin et un objectif exceptionnels, malgré la crise actuelle», a déclaré la présentation du FPI.

– Juniper Communities et LTC Properties (NYSE: LTC) ont lancé Virtual Connections, un centre de ressources numériques gratuites pour les prestataires de services aux seniors et les résidents. Le site Web SLvirtual.com comprend des centaines d’activités, de jeux, de vidéos d’exercices, de webcams en direct de zoos et d’aquariums et d’autres ressources numériques pour aider à l’engagement et au divertissement des résidents pendant que la distanciation sociale est en vigueur.

«Comme les adultes vieillissants sont isolés dans le monde et dans nos communautés de soins aux personnes âgées, nous voulions être en mesure de soulager ceux qui travaillent dans les communautés et de divertir pour aider à rendre ces journées un peu plus lumineuses pour les résidents et le personnel», Lynne Katzmann, présidente des communautés Juniper, a déclaré dans un communiqué de presse. «Les connexions virtuelles sont un moyen de redonner à notre industrie et d’encourager ceux qui travaillent sans relâche pour servir les aînés tout en respectant les politiques de distanciation sociale.»

En plus de travailler avec Juniper pour lancer SLvirtual, LTC a lancé un forum en ligne pour ses partenaires d’exploitation et d’autres partenaires de confiance de l’industrie.

«En ces temps difficiles, nous recherchons des moyens créatifs d’aider nos partenaires et l’industrie dans son ensemble», a déclaré Wendy Simpson, PDG et présidente de LTC Properties.

– Les associations industrielles ASHA et Argentum ont repoussé un article du Wall Street Journal du 5 avril.

«Les établissements de vie assistée, une industrie en plein essor mais légèrement réglementée qui abrite environ un million de patients âgés en Floride et à travers le pays, sont mal préparés pour le nouveau coronavirus, selon certaines autorités sanitaires», commence l’article.

Les groupes industriels ont contesté l’idée que les communautés de vie assistée sont moins préparées que les autres milieux pour Covid-19, et ont souligné les défis systémiques liés au manque de fournitures et de tests.

«Comme pour la plupart des autres opérateurs dans une myriade d’industries, si la vie assistée avait accès à des kits de test à action rapide et à des EPI, nous pourrions protéger davantage notre population vulnérable et continuer à garder la plupart de nos résidents hors de l’hôpital, permettant à notre système de soins de santé de se concentrer sur ceux qui souffrent de maladies mortelles », ont déclaré les associations. «Le fait est que les résidents vivant avec assistance sont beaucoup plus sûrs de vivre dans nos communautés qu’ils ne vivraient seuls avec les déficiences physiques et cognitives qui caractérisent la plupart des personnes dont nous prenons soin.»

– A Place for Mom lance une nouvelle campagne publicitaire à la lumière de Covid-19. «Alors que le système de santé national devient de plus en plus chargé, l’APFM a reçu une myriade de demandes de renseignements de familles confrontées à des décisions urgentes et difficiles», a déclaré la société dans un communiqué de presse. «Ils doivent avoir accès aux dernières informations disponibles et bénéficier d’un soutien dans leur quête de la sécurité de leurs proches en période de quarantaine et de sortie rapide des hôpitaux.»

A Place for Mom ajoute également sa voix en appelant à plus de tests Covid-19, de fournitures et d’autres ressources pour les prestataires de services aux personnes âgées. Un récent sondage de l’APFM a révélé que plus de 90% des 17 000 communautés de personnes âgées vivant dans son réseau acceptent les emménagements, et environ 450 de leurs partenaires communautaires sont capables de faire des tests Covid-19 sur place.

– Integral Senior Living (ISL), basée à Carlsbad, en Californie, et la marque de vie indépendante créée par l’entreprise, Solstice Senior Living, prévoient d’embaucher 300 nouveaux associés pour une gamme de postes.

« Nous savons qu’il y a beaucoup de travailleurs déplacés en ce moment, et nous voulons faire notre part pour aider en offrant des opportunités d’emploi à ceux qui ont perdu leur emploi », a déclaré Collette Gray, présidente et chef de la direction d’ISL et de Solstice, dans un communiqué de presse publié vendredi. «La santé et le bien-être de nos résidents sont notre priorité absolue, et nos associés sont au cœur des soins aux populations les plus vulnérables de notre pays. À cause de Covid-19, nous avons plus que jamais besoin de gens passionnés et travailleurs. « 

ISL manages independent living, assisted living and memory care communities across 20 states and is one of the 20 largest operators nationally.

Many other senior living providers — including Avamere and Solera — are making an aggressive hiring push, as they have elevated labor needs due to Covid-19 at a time when many other industries have experienced mass layoffs.

— Funding has exploded for tech startups that could address challenges related to Covid-19.

“In particular, telemedicine startups saw a 1818% YoY increase in funding. And mental health, an otherwise underfunded health sector, saw a 65% increase in funding, suggesting the pandemic could shine a light on previously overlooked areas for health innovation,” StartUp Health stated in an email on Friday, drawing on its Q1 Insight report.

Senior housing providers are among those driving the strong demand for these types of tech solutions.

Bulletin for Thursday, April 2, 2020:

Juniper Communities today began offering Covid-19 tests to all of its residents and employees as a preventative measure to stop the spread of the disease.

The Bloomfield, New Jersey-based senior living provider procured the nasal swab tests through private/commercial vendors using CDC-qualified reagents and operating under the FDA’s Emergency Use Authorization.

The lack of tests has been a major pain point in the national response to the coronavirus pandemic, and has hampered senior living providers in their efforts to create strategic mitigation efforts. As for how Juniper was able to secure tests, CEO Lynne Katzmann has a simple answer: cold calling labs.

“We smiled and dialed until we found someone we could work with,” she told Senior Housing News.

Testing has now become more widely available than in the early days of the U.S. outbreak, and Juniper is not the only provider to make tests available to residents and staff. Atlas Senior Living may have been the first to do so, announcing its partnership with a testing lab on March 22.

Juniper is not taking tests away from other medical providers or hospitals, the company stated in a press release on Thursday.

Ramping up testing is necessary, as Juniper needs actionable data in its plan to prevent the spread of Covid-19, according to Katzmann. Based on the results of the tests, the company will be able to take several actions, including:

— Confirm symptomatic individuals for isolation

— Identify asymptomatic individuals for segregation

— Change staffing patterns to limit cross-contamination

Juniper is going through a “rigorous stratification process,” which will be further accelerated by the testing, in which residents who test positive for Covid-19 but are healthy enough to stay in the senior living setting receive care in particular parts of buildings, from dedicated staff members fully equipped with protective equipment, Katzmann told SHN. While the availability of PPE has been a tremendous concern for senior living providers, Juniper’s inventory is adequate and being distributed via three central stockpile locations, she added.

Although she declined to share the cost of testing, Katzmann said it is not expensive, particularly when considered in light of the enormous costs that can be avoided through better Covid-19 detection.

The tests are not accurate in every single case, but Juniper believes that accuracy in the 70% to 80% range will be a major step forward in how the company can respond to the pandemic. Initially, test results will take a few days, but Katzmann hopes that more rapid tests will become available soon.

“We’ve successfully cared for residents through natural disasters such as Hurricane

Irma without loss of life. This is the greatest challenge we have ever faced,” she stated in Thursday’s press release. “Full testing is clearly the correct next step.”

Also in the news:

— The $2 trillion CARES Act contains a provision that could help infuse more cash into the senior living industry — but there are new questions regarding whether the program will be ready by the time it officially launches.

The provision, known as paycheck protection program (PPP), is meant to help small businesses retain their workforce with forgivable loans. Companies harmed by Covid-19 as early as Feb. 15 and with 500 or fewer workers can apply for up to a $10 million Small Business Administration (SBA) 7(a) loan under the program to be used for payroll and some other expenses, including mortgage payments and utilities. The only catch for loan forgiveness is that the businesses must keep or quickly rehire their employees while maintaining salary levels throughout the pandemic’s duration.

But now there are questions as to whether the government-backed loan program will launch April 3 as originally planned. Specifically, lenders say Friday’s deadline is unrealistic and the program is fraught with unworkable guidelines and requirements, according to an April 2 story on Politico. These issues may delay the program’s implementation by weeks or more.

—- Diversified Healthcare Trust’s (Nasdaq: DHC) board of trustees has reduced the company’s regular quarterly cash dividend on its common shares for the first quarter to $0.01 per share, a move they expect will conserve about $33.3 million per quarter this year.

The dividend will be paid to the company’s shareholders on April 13 and distributed on or about May 21, the company said.

Diversified Healthcare Trust also deferred some previously planned capital investments that are expected to save up to $150 million in 2020. The company said it will later this year reevaluate all of the capital projects it deferred.

And although the company closed on the sale of four assets for approximately $56 million since the fourth quarter of 2019, it expects the pace of sales will slow considerably in the future.

The moves were made in response to the operating challenges and uncertainty of the Covid-19 pandemic. The company reported 41 confirmed cases of Covid-19 in its managed and leased properties, including 31 residents and tenants and 10 employees across 23 properties, primarily in its SHOP portfolio.

“We continue to carefully monitor developments related to the virus and support our senior living manager, Five Star Senior Living, and tenants following recommendations provided by the CDC and federal, state and local regulatory authorities,” Diversified Healthcare Trust President and COO Jennifer Francis said in a statement. “From a financial perspective, we believe we are taking all of the appropriate steps to preserve capital, maintain liquidity, and meet our debt obligations during this crisis.”

The senior living and long-term care industries’ top associations on Thursday released a joint statement calling for more actions to protect frontline caregivers during the Covid-19 pandemic.

The leaders of ASHA, LeadingAge, NIC, Argentum, ASHA/NCAL all co-signed a statement emphasizing there is more to do to protect frontline health care workers caring for people affected by Covid-19 IN senior housing and skilled nursing communities across the U.S.

Specifically, the industry leaders called for the prioritization of testing for frontline caregivers, an increased availability of personal protective equipment (PPE) and more creative solutions to help meet workers’ personal and family obligations.

— Humana Inc. (NYSE: HUM) has announced it’s implementing more streamlined claims processing to get reimbursement payments to providers as quickly as possible and help ease their financial concerns as the Covid-19 pandemic rages on.

The company also said it’s expanding its policy of suspending prior authorization and referral requirements. The company is now requesting notification within 24 hours of inpatient and outpatient care. The move is applicable for all providers, regardless of network affiliation, for patient care related to Covid-19; and applicable for in-network provider for patient care not directly related to Covid-19. The move will allow for easier transfer of hospital patients to alternative sites of care, including senior care communities.

The policies are applicable for covered plan benefits under individual and group Humana Medicare Advantage, Medicaid and employer-sponsored plans.

— Compass Senior Living is paying its employees extra this month to show appreciation for their efforts amid the Covid-19 pandemic.

The Eugene, Oregon-based provider is paying all of its team members a bonus equal to 10% of earned wages for the month of April. The bonus applies all wages earned, including regular and overtime hours.

Compass said it will pay out the bonus on May 8.

Bulletin for Wednesday, April 1, 2020:

Welltower (NYSE: WELL) reported Wednesday that 116 of its residents in 45 of its communities were affected by Covid-19. The Toledo, Ohio-based REIT has also made headway on procuring PPE and is opening a new distribution center in Dallas.

Occupancy for the company’s senior housing operating portfolio (SHOP) was 85.4% as of March 27, a decrease compared to the 85.6% occupancy rate the company reported on March 13, 2020, and the 85.8% rate it reported on February 28.

Looking forward, Welltower expects more declines due to the limitation of tours at many of its communities and restrictions on resident move-ins. The portfolio’s operating expenses also rose in recent weeks, as the Toledo, Ohio-based real estate investment trust (REIT) has seen an increase in labor costs as well as an uptick in costs related to personal protective equipment (PPE) and medical supplies.

But Welltower said it’s making good progress on amassing a stockpile of PPE for use by its operators’ workers.

On Wednesday, the company said it had already procured or is working to procure 400,000 pairs of gloves, 250,000 facemasks, and 120,000 isolation gowns. The company also reported stocking up on hand sanitizer, disinfectants and no-touch thermometers. The REIT will distribute these supplies from a newly established center in Dallas. There, the company will receive bulk orders from suppliers and group purchasing organizations, along with new supply chains.

Welltower has also bulked up on Covid-19 testing kits, and has begun building new relationships with regional and national lab providers for testing capabilities. And, through an existing relationship with the University of California San Francisco’s (UCSF) Clinical Innovation Center, the REIT has connected its operating partners with experts who can provide guidance on interfacility transfers, staff screening and safety, and testing protocols.

“Amongst a host of other initiatives, we have provided resources designed to support telemedicine solutions to avoid subjecting residents to unnecessary risk of infection and to triage in-place residents,” the REIT wrote in a business update Wednesday. “Welltower is committed to further engagement with parties across the health care sector to explore any and all solutions which will benefit our operating partners.”

Also in the news:

— Brookdale Senior Living (NYSE: BKD) announced Wednesday that it completed three financing transactions totaling $208.5 million. The deals allow the Brentwood, Tennessee-based operator to refinance the majority of its near-term debt maturities, as well as partially fund recent acquisitions.

On March 31, Brookdale received $149.3 million in mortgage financing from Capital One. The refinancing took the form of ten-year nonrecourse fixed and variable rate loans of $76.2 million and $73.1 million, respectively, resulting in proceeds of $13 million.

The operator also completed a $30 million refinancing package with BBVA USA, and a $29.2 million package from Berkadia under the Fannie Mae DUS program. The collateral used to secure these loans were communities acquired from National Health Investors (NYSE: NHI) and Healthpeak Properties (NYSE: PEAK).

— Georgia Governor Brian Kemp announced the deployment of 100 National Guardsmen to assisted living facilities and nursing homes across the state to help contain the spread of the coronavirus, according to the Atlanta Journal-Constitution. The move comes as Kemp is preparing a shelter-in-place order for the state.

The Georgia Health Care Association estimates more than 30 facilities across the state with residents who have tested positive for the virus. The Guardsmen will be used to audit sanitation methods, train staff on stricter infectious disease control protocols and clean facilities.

The Georgia Department of Public Health reports 4,638 confirmed cases of COVID-19. Of those, 139 have died.

— Juniper Communities and the American Seniors Housing Association (ASHA) have partnered with Music Theatre International to launch “Send in the Gowns,” an initiative encouraging the public to gather or make personal protective equipment (PPE) and donate them to local senior housing communities across the country.

The initiative is specifically geared toward theater groups and costumers that would have access to materials and manpower to make facemasks, gowns and face shields for front line staff responding to the coronavirus pandemic. But anyone can participate.

Juniper and Music Theatre International have an existing relationship. The Bloomfield, New Jersey-based operator was among the first to pilot Music Theatre International’s “Broadway Senior” program, which gives seniors the opportunity to star in Broadway plays adapted especially for them.

“These costumes may not be glamorous, but they’re necessary to keep our residents and those who care for them safe during COVID-19,” Juniper CEO Lynne Katzmann said in a statement announcing the initiative.

The initiative comes as Department of Homeland Security officials told the Washington Post that the country’s emergency stockpile of PPE is critically low and close to being exhausted, despite assurances from the Trump administration that plenty of stock remains available.

Bulletin for Tuesday, March 31, 2020:

Atria Senior Living CEO John Moore says he is pleased with how the company is responding to the Covid-19 crisis.

“I couldn’t be prouder of how everybody at Atria is rising to the occasion,” Moore said in an interview with Louisville Business First (subscription). “We have resources and talent aimed at supporting all the communities everywhere. It’s going to sound overly simplistic, but I think, as a company we’re reacting smartly and working together. I’m confident that this is going to make us better at what we do.”

Louisville, Kentucky-based Atria is one of the largest senior living providers in the United States, operating more than 200 communities across the U.S. and Canada. Its Atria Willow Wood community in Fort Lauderdale has been particularly hard hit by the coronavirus, with six deaths, according to media reports. Florida Gov. Ron DeSantis criticized Atria for not going far enough in screening staff; in a statement, Atria said those comments from the governor were “inaccurate and unproductive.”

Moore did not tell Louisville Business First how many Atria residents have been diagnosed with or died due to Covid-19, but said that a “handful of communities” have confirmed cases.

“We’re worrying about it (the coronavirus) everywhere,” Moore told Louisville Business First. “We’re tracking anyone anywhere with symptoms.”

Also in the news:

— Hunt Valley, Maryland-based Omega Healthcare Investors (NYSE: OHI) has identified 57 confirmed Covid-19 cases across its portfolio, with 28 facilities impacted — all but one of those are skilled nursing facilities. Like other real estate investment trusts, Omega noted that its operators are experiencing cost increases. Some increases are related to labor — including overtime and bonus pay — as well as a “significant increase” in the cost and usage of personal protective equipment and supplies. The REIT has taken steps to shore up its liquidity and expects to update its earnings guidance when it releases Q1 2020 results.

— Fitch maintained a BBB- rating and negative outlook for Sabra Health Care REIT (Nasdaq: SBRA). The ratings agency looked favorably upon the REIT’s decision to reduce its upcoming quarterly dividend, made to provide additional liquidity in the face of coronavirus-related uncertainties and challenges.

— Nursing facility care is becoming harder for seniors to access due to Covid-19, according to Dr. Alexander Sasha Rackman, a geriatric medicine physician and assistant professor of medicine at Rush University Medical Center in Chicago. Older adults living at home are beginning to suffer from a lack of home health care services, as these providers curtail visits to prevent the spread of Covid-19, Rackman wrote in The Hill.

— California has postponed activities related to its Master Plan for Aging as the state responds to Covid-19.

Bulletin for Monday, March 30, 2020:

With senior living providers under financial pressure due to Covid-19, one of the largest ownership groups in the country — Chicago-based real estate investment trust Ventas (NYSE: VTR) — has established a rent deferral program for operators in triple-net leases. This group represents about 20% of Ventas’ portfolio by net operating income.

“Under the program, certain senior housing care providers who are Ventas tenants can defer 25% of their April 2020 payment obligation until the earlier of October 1, 2020 or receipt of government assistance,” the REIT stated in a document filed with the SEC on Monday. “All amounts deferred are required to be used for operating expenses to care for seniors at Ventas communities.”

Total April deferrals could be in the $3 million to $9 million range, Ventas estimates. The REIT collected “substantially all” of its March rent.

Government assistance for senior living operators could be coming through the recently signed $2 trillion stimulus package, which included $100 billion for health care providers. The package also included $500 billion in additional business assistance loans, some of which could flow to senior living providers as well.

Average occupancy in Ventas’ senior housing operating portfolio, which accounts for about 30% of the REITs’ overall NOI, has not been materially affected but trended lower in the second half of March, the company noted in Monday’s SEC filing.

“In addition, inquiries and tours have begun to decrease materially and move-ins have begun to slow,” the document states. “While there is not yet a clear trend, move-outs may become elevated as a result of the pandemic. Finally, operating costs have begun to rise as operators take actions to protect caregivers and residents and increase screening and infection control efforts. Each of these trends accelerated in the second half of March, and may accelerate further as the pandemic continues.”

Out of approximately 70,000 residents in its senior housing operating and triple-net portfolio, about 70 have so far received a positive Covid-19 diagnosis, while 25 staff members have been diagnosed. In all, 33 communities in Ventas’ portfolio have had a positive Covid-19 diagnosis.

The pandemic has put senior housing-focused REITs on a wild stock market ride, with their market caps drastically falling and then recovering somewhat last week as the overall market rebounded. Shares in Ventas were down 5.26% at the end of the trading day on Monday. The firm’s CEO, Debbie Cafaro, appeared on the CNBC show “Mad Money” last week and reassured investors of the company’s “solid and stable” financial position.

Also in the news:

— Executive officers with Dallas-based Capital Senior Living (NYSE: CSU) will not receive an increase in their base salaries for 2020, in light of “current economic conditions.” In addition, the CSU board’s compensation committee has enacted a temporary suspension on equity awards for all directors and officers of the company.

The compensation committee approved retention awards for Capital’s named executive officers and certain other executive officers, equal to 100% of current base salary, with 50% of the award contingent on continuous employment through Sept. 15, 2020, and the remainder contingent on continuous employment through March 15, 2021. Certain performance bonuses are also available to some of the executive officers.

— The Centers for Medicare & Medicaid Services (CMS) has further expanded telehealth flexibilities in response to Covid-19. The agency is now allowing more than 80 additional services to be furnished via telehealth. Providers can evaluate beneficiaries via audio only, bill for telehealth visits at in-person rates, and can utilize telehealth for emergency department visits, initial nursing facility and discharge visits, home visits and therapy services furnished by a clinician allowed to provide telehealth. Telehealth also can be used to fulfill many face-to-face visit requirements in home health, hospice and inpatient rehabilitation facilities.

— The Alzheimer’s Association — in conjunction with several senior living providers including industry giants such as Brookdale and LCS — issued an emergency preparedness guide with best practices in dementia care during Covid-19. The document covers topics such as preventing illness and ways to observe and respond to dementia-related behaviors. Many of these best practices hold true at any time, not just in emergency situations, but the guide may be especially helpful for those who are called on to provide dementia care specifically during the pandemic.

“Maintaining operations in long-term and community-based care settings with the expected staffing shortages during any pandemic, epidemic or disaster can be very challenging,” the document states. “During this time, non-clinical staff may be needed to assist with care.”

— Some family members are taking their loved ones out of senior living communities due to Covid-19, but the decision is a hard one and sometimes results in a discharge, CNN reported: “Another concern in bringing someone home: Some facilities are telling residents that if they leave, even temporarily, they can’t return. That happened to a family in western New York, according to Roxanne Sorensen, a geriatric care manager with Elder Care Solutions of WNY. When this family took their elderly parents out of an assisted living facility for a brief ‘stay-with-us’ respite, they were told the parents had been discharged and had to be placed on a waiting list before they could return.”

Bulletin for the weekend of March 28 and March 29:

Senior living providers are considered “health care providers” and therefore are exempt from certain requirements of the Families First Coronavirus Response Act (FFCRA) related to providing paid leave for employees during the Covid-19 outbreak.

President Trump signed the FFCRA on March 18. The act stated that employers with fewer than 500 employees had obligations to offer 10 days of paid sick leave and up to 12 days of paid leave for employees who needed to care for children due to school closures, if certain criteria were met. However, exemptions were available to health care providers; senior living industry groups Argentum and the American Seniors Housing Association (ASHA) pushed for the Department of Labor to clarify the definition of “health care provider” and to include senior living under that definition.

The DOL clarified the definition of “health care provider” in a Q&A document issued Saturday.

“For the purposes of employees who may be exempted from paid sick leave or expanded family and medical leave by their employer under the FFCRA, a health care provider is anyone employed at any doctor’s office, hospital, health care center, clinic, post-secondary educational institution offering health care instruction, medical school, local health department or agency, nursing facility, retirement facility, nursing home, home health care provider, any facility that performs laboratory or medical testing, pharmacy, or any similar institution, employer, or entity,” the document states.

Senior living was not the only health care industry to raise concerns over the FFCRA. For instance, some home health industry voices also warned that the child care-related requirements could be financially unsustainable and winnow the ranks of workers at a time when they are needed on the frontlines of caregiving. Argentum and ASHA joined with home health and home care industry groups to make their case in a March 23 letter to U.S. Secretary of Labor Eugene Scalia.

“We are gravely concerned, based on prior experience, that absent an exemption from the requirements … we will lack an available workforce able to deliver much needed home health and residential care,” that letter stated.

Many senior living providers are offering paid sick leave and child care benefits to employees in some form. Wilsonville, Oregon-based Avamere, for instance, is offering full pay for any employee who has to miss work due to a Covid-19 quarantine, and is providing up to $50 a day in child care reimbursement.

Also in the news:

— Policies that require nursing homes or assisted living communities to accept “surge” patients from hospitals to free up beds for Covid-19 patients are “short-sighted” and could end up making the problem worse, the American Health Care Association/National Center for Assisted Living (AHCA/NCAL) and AMDA the Society for Post-Acute and Long-Term Care Medicine warned in a letter issued Sunday.

The groups specifically cited an order in New York state under which nursing homes are cannot deny admission or readmission based “solely” on a confirmed or suspected Covid-19 diagnosis.

“The question all state officials must consider is whether the risk of introducing a virus with an estimated 30% or higher mortality rate into a nursing home or assisted living community outweighs the risk of hospitals being overcrowded,” the letter states. “Regrettably, this is a difficult decision that many officials will be facing now or in the near future.”

Even more than nursing homes, assisted living communities and CCRCs are not equipped to handle “medically complex surge-related discharges,” the letter noted.

— Debt and equity providers are signaling that they will commit to deploying capital until the pandemic subsides and a clearer picture of the economic landscape emerges, according to a state of the market report from Chicago-based lender, Helios Healthcare Advisors.

Lenders are still moving forward with completing previously committed transactions and will focus on existing clients in the short-term.

“Some sophisticated conventional lenders, specialty finance and non-bank lenders who hold large portfolios of healthcare and healthcare real estate loans still open to new business and intend to ‘cherry pick’ best opportunities, however pricing, advance rates, and credit standards are becoming more conservative,” the report notes.

Helios’ analysis echoes observations from panelists during a Thursday webinar on the market landscape hosted by the National Investment Center for Seniors Housing & Care (NIC). The panelists on that webinar warned of “peak volatility” for the industry, but that senior housing is a more stable real estate product than other commercial sectors, and its need-based, recession-resilient components open it up to available sources of liquidity.

— The House of Representatives passed the $2 trillion coronavirus stimulus package on Friday and President Trump signed it, but it was not without some drama.

The House was set to pass the package in a voice vote Friday morning until Rep. Thomas Massie (R – Kentucky) held up the move in favor of a recorded vote.

Massie’s move forced scores of lawmakers on both sides of the aisle scrambling to return the capital, and he was roundly criticized by members of both parties and President Trump, who signed the bill into law.

Senior living providers dealing with mounting expenses responding to the outbreak will be able to apply for relief through a $100 billion public health and social services emergency fund and a $500 billion stabilization fund. The package also includes tax relief measures that can benefit operators.

— Echoing other senior living executives, Notre Dame Health System President and CEO Wayne Plaisance said that personal protective equipment (PPE) is in short supply and “not available at any price.” The Notre Dame system includes three senior housing and care communities in the New Orleans area, one of which — Chateau de Notre Dame — has been identified as a coronavirus cluster by the Louisiana Department of Health.

— An associate at a Brookdale Senior Living community in West Lake Hills, Texas has tested positive for Covid-19, according to KXAN-TV.

The associate has been placed in quarantine and will not be allowed to return to work until testing negative for the virus. Residents, family members and fellow staff have been informed of the situation, and Brookdale is monitoring residents and working with local public health officials to monitor the community for further signs of an outbreak, Brookdale spokeswoman Heather Hunter told the station.

Many of the nation’s largest senior living providers — including Atria Senior Living, Sunrise Senior Living and Five Star Senior Living — are now responding to positive diagnoses of Covid-19 either among residents, staff or both.

— As bans on non-essential visitors stretch into another week, family members of senior living residents are becoming increasingly “agonized” over the forced separation from loved ones, and are particularly fearful of residents “dying alone,” the Minneapolis Star-Tribune reported. (Providers such as Brookdale Senior Living have been explicit in stating that visitors will be allows in buildings during end-of-life situations.) Minnesota also passed a $300 million Covid-19 aid package, and Department of Health Infectious Disease Director Kris Ehresmann said that a particular focus is on congregate senior living settings.

Bulletin for Thursday, March 26, 2020:

Covid-19 threatens every senior living and care community across the country, but not all of them face the same level of risk. An interactive map tool has been developed out of the Massachusetts Institute of Technology (MIT) that assigns a risk score to nursing homes around the country by ZIP code, and also identifies the number of assisted living beds in those areas.

The tool is a product of the MIT-based Covid-19 Policy Alliance, headed up by two professors at the Sloan School of Business, Simon Johnson and Retsef Levi. Johnson formerly was chief economist at the International Monetary Fund and Levi spent more than a decade in the intelligence wing of the Israeli Defense Forces.

“This is a war, and in order to win a war you need coordination and intelligence,” Levi told Senior Housing News, referring to the fight against Covid-19.

The Covid-19 Policy Alliance was formed to improve intelligence and coordination capabilities, and within days the effort involved a team of about 80 people, including many students from across various MIT programs. Interest in their work is steadily growing, and in fact the interactive tool may be temporarily unavailable as they migrate it to a more robust platform to manage the growing demand. The tool should be up and running within a day or two, Levi said.

Drawing on publicly available information from the Centers for Medicare & Medicaid Services (CMS), the Alliance’s map tool assigns a risk score to senior housing and care facilities based in part on past track records of infection control and safety, according to Alida Lujan, a member of the Alliance’s data analytics team and a student in Sloan’s executive MBA program.

By hovering over the map, users can see how many nursing home, assisted living and long-term care hospital beds are in a given county, and what the nursing home risk score for that county is.

Because comparable infection control data is not available for assisted living, no comparable risk score has been generated for those communities, Lujan told Senior Housing News. The Alliance scraped the web to generate information about the number of assisted living beds in a given ZIP code, grabbing data from government sources as well as senior living referral websites. The Alliance is interested in partnering with the industry to gather more data and beef up the assisted living component of the tool.

The tool still could be helpful for assisted living providers as they will want to be aware of the risk score for nursing homes in their county. If a nursing home has a Covid-19 outbreak, that would have ripple effects through the continuum of care for that locality, Lujan noted.

The intention is not to single out particular facilities for criticism or censure, Johnson stressed to Senior Housing News. Rather, it is meant to be useful in driving a more data-driven response to Covid-19.

“Our aim is to be helpful,” he said.

The team has laid out steps that they believe should be taken to mitigate the risk of serious Covid-19 outbreaks within these settings that are full of people who are particularly vulnerable to the virus. Levi laid out these steps in a presentation posted to YouTube. Elles sont:

  • State-wide, mandated shelter in place orders for all senior living facilities to ensure no site exposure to anyone with unconfirmed or positive Covid-19 status
  • Aggressive allocation of resources to test and screen all residents, workers and vendors who enter a facility, including those who are asymptomatic for Covid-19
  • Creation of appropriate state support systems for infection control and clinical expertise to be provided via telehealth
  • Ensure critical supply of medicines and personal protective equipment (PPE)

These steps would improve on the current status quo, in which screening and testing is too sparse and haphazard, and “suggestions and guidelines” do not go far enough in ensuring that all facilities are practicing necessary infection control procedures, Levi said.

The Covid-19 Policy Alliance is working long days to improve the existing interactive map tools, create new resources, and advocate to government officials about the senior living industry’s needs, Johnson said. In fact, members of the Alliance are meeting with senior government officials on Friday to share the information that the Alliance has gathered and the group’s policy proposals.

The lack of PPE has emerged as a particular pain point for senior living providers, with Ohio Living CEO Larry Gumina writing this week of his “anger and frustration” at the shortage of these supplies. Johnson is aware of this situation, and said the Alliance is working actively on bringing in more PPE to senior housing and care communities, including by working in concert with corporate partners and resources.

“We’re working with people in the industry to help bring whatever reinforcements of material they tell us we need,” he said.

In addition to the interactive map focused on nursing homes and assisted living communities, the Covid-19 Policy Alliance has created a map that evaluates risk for individual counties across the country. From the coronavirus crisis in Italy, it is clear that locations with a sizable population of older adults are at risk of becoming Covid-19 hotspots, where the local health system can be overwhelmed by serious cases.

The interactive map from MIT assesses a county’s risk by looking at its percentage of residents older than 65 years, and the incidence of diabetes, obesity and hypertension. These comorbidities increase the likelihood that a person who catches Covid-19 will need serious medical intervention such as hospitalization.

Based on this information, the researchers believe that testing could and should be prioritized for high-risk areas, social distancing should be aggressively enforced there, and hospital capacity should be evaluated.

USA Today on Friday ran a story examining counties with large senior populations, noting the unique and serious risks posed by Covid-19 in these locales. The newspaper’s analysis found that in 11% of all U.S. counties, at least 25% of the population is 65 or older. “Texas leads the nation with 27 of those 341 elderly-heavy counties, followed by Nebraska, Michigan, Montana, Florida and North Carolina,” the article stated.

Florida’s leadership has come under criticism for not doing enough to enforce social distancing, with large spring break crowds gathered on beaches in recent weeks. On Wednesday, Florida Gov. Ron DeSantis did ask all seniors in the Sunshine State to shelter in place in their homes.

Also in the news:

— UnitedHealth has validated self-adminstered Covid-19 tests and is rolling them out in Seattle, an early epicenter of the U.S. coronavirus outbreak, with a Kirkland nursing home being a hotspot.

— 3.3 million people filed unemployment claims last week, in the biggest jump in claims in U.S. history. The senior living industry is actively trying to recruit many of these laid-off workers.

— The Covid-19 outbreak has begun to affect older adults’ perceptions of senior living, according to survey results from product review and recommendation website The Senior List. But the good news is that people who reside in senior living communities or have family in a community have a much more positive perception.

Of 715 survey respondents, only 4% of people who do not live in senior housing said that they believe these facilities provide excellent care and/or healthy environments. But that number went up to 37% among respondents in senior living, with 34% saying that senior living facilities provide good care and/or healthy environments.

The survey zeroed in on a serious outbreak of Covid-19 at a Washington state nursing home. Forty-three percent of respondents said their perspective of senior living has been negatively affected by this situation, but 14% said that they now have a more positive opinion of senior living than previously.

In reporting on these findings, The Senior List team noted: “One explanation for this is that the reports on seniors living alone who are struggling to get necessities during this time are leading people to believe seniors are better off being cared for in a facility.”

Overall, the findings suggest that Covid-19 has so far not improved people’s perception of senior living, but it also has not done extreme damage.

“While the news so far has been focused on the vulnerabilities of those in senior living, there is potential for the industry to recover lost public trust,” The Senior List report noted.

— Linked Senior has launched a campaign called #ActivitiesStrong to support resident engagement despite limitations on normal activities due to Covid-19. The company has made a tip sheet and other resources available and is making its technology available for free for 90 days.

— Seniorly, a company that has been likened to the Airbnb of senior living, has enlisted Broadway and Hollywood performers to take part in a free daily show, Curtain Up!, to be broadcast via YouTube. Among those slated to perform are Bethany Joy Lenz, known for her performance on TV’s One Tree Hill; Aaron Lazar of the hit musical Dear Evan Hansen; and Will Roland, who performed in the musical Be More Chill, as well as Dear Evan Hansen. New York City-based nonprofit Sing For Your Seniors has partnered with Seniorly on this project. Curtain Up! airs at 4pm ET on weekdays.

“I realized the other night while singing my kids to sleep that there must be so many people out there in need of comfort,” Lazar said. “I remember visiting my great grandfather in the nursing home when I was a little kid. Singing for seniors is so important, now more than ever.”

Bulletin for Wednesday, March 25, 2020:

After coming to an initial agreement in the early morning hours, Senate lawmakers continued to wrangle over a $2 trillion stimulus package on Wednesday, but ultimately passed it unanimously. As they face heightened expenses related to Covid-19, senior living providers will be able to apply for relief through a $100 billion public health and social services emergency fund and a $500 billion stabilization fund, leaders with industry groups Argentum and the American Seniors Housing Association (ASHA) said.

“In this latest package, lawmakers set aside $100 billion in grants for providers to prevent, prepare for, and respond to Covid-19, and reimburse eligible health care providers for lost revenues directly attributed to coronavirus,” Argentum President and CEO James Balda explained in a statement. “The bill also provides for $500 billion in liquidity through loans, loan guarantees, and other investments, that would be available to eligible businesses including senior living providers.”

The stimulus package also includes tax relief measures that could aid senior living providers.

ASHA and Argentum led an advocacy effort in recent days aimed at getting $20 billion of the stimulus packaged earmarked specifically for senior living. No specific allocations for the industry were made in the final bill, but the trade associations said that they are pleased that the final bill boosted the health care fund to $100 billion and that senior living providers will be have the opportunity to receive financial support. They plan to continue to push for senior living interests in a potential fourth round of stimulus.

“We were very proud of the way our collective memberships stepped up their advocacy efforts these last two weeks,” ASHA President David Schless stated. “They called and wrote to their congressional representatives and staffs, in many cases more than once, asking for much needed government financial relief to offset the costs associated with COVID-19 preparedness and response. These resources are a good start to helping our members meet this unprecedented challenge as they and their employees continue to serve our vulnerable seniors.”

The stimulus package is expected to be quickly taken up the House of Representatives, where there is a plan to bring it to a voice vote on Friday.

Also in the news on Wednesday:

— While merger and acquisition activity remained steady in the early days of the U.S. coronavirus outbreak, one large deal has now been scrapped and another has been postponed. Irvine, California-based Sabra Health Care REIT (Nasdaq: SBRA) was pursuing a previously announced $150 million acquisition that has now been postponed. Seattle-based investment and development firm Columbia Pacific Advisors’ $175.4 million sale of a Canadian senior housing portfolio will not proceed due to Covid-19 uncertainty.

— Ohio Living CEO Larry Gumina issued an impassioned public call for more personal protective equipment for senior living providers, writing that he is “frustrated and angry” at the situation. Hospitals in Ohio are reportedly “flush” with PPE, while clinicians and caregivers in senior living must “get to the end of the line” and are wearing re-used masks and gowns.

“We, aging service providers, are caring for the most vulnerable members of our society, 24/7, and we are last on the prioritization of PPE,” Gumina wrote. “ … My hope is that in the days and years ahead, we’ll be able to learn from this misplaced hierarchy of value and the aging service segment of our health care delivery system will be equally prioritized.”

— Westlake Village, California-based LTC Properties (NYSE: LTC) terminated its previously authorized stock repurchase program. As of March 25, 2020, LTC had purchased 615,827 shares at an average price of $29.25 per share, including commissions, for a total investment of approximately $18 million, the REIT announced.

“LTC’s Board has made the strategic decision to terminate the repurchase plan,” LTC President and CEO Wendy Simpson stated. “We believe that the course for LTC now is to further increase our liquidity and help maintain our strong and flexible balance sheet. With a rising level of uncertainty in all aspects of corporate life, we believe it is prudent to enhance our already high level of conservatism. Additionally, increased financial flexibility and liquidity will allow LTC to complete and compete for accretive transactions when this crisis passes.”

— Sabra lowered its quarterly dividend to $0.30 per share for the dividend expected to be declared in May 2020.

“Preservation of capital is important in times of uncertainty,” Sabra CEO Rick Matros stated. “Retaining a greater portion of our cash flows from operations will help us better manage our leverage as we expect to face disruption in our revenue stream during the pendency of the COVID-19 pandemic. Our operators are diligently and skillfully managing through the pandemic, and we are pleased with how they have been handling these unprecedented challenges.”

The reduction is expected to generate about $30 million of cash savings per quarter, which will likely be used to manage leverage and fund operations.

— Mary Sue Patchett has been named Executive Vice President – Strategic Operations at Brookdale Senior Living (NYSE: BKD). Previously her title was Executive Vice President – Community Operations. She will continue to lead the Covid-19 emergency response command center in her new role, which will also encompass the provider’s ssenior living portfolio segmentation initiative, integrated health care strategy, strategic accounts relationships, innovation efforts and sustainability initiatives. She is reporting to Cindy Kent, the company’s president of senior living.

— Chicago craft distillery Koval has turned to producing hand sanitizer, which it is donating to senior living communities and other health care providers.

Bulletin for Tuesday, March 24, 2020:

Tuesday brought some relief to publicly traded senior housing owners and operators, whose share prices were buoyed as part of a larger market rally. Investors seemed hopeful that Congress would soon move forward with a $2 trillion stimulus; news came early Wednesday morning that the Senate and White House had reached a deal on the package. Senior living associations have been pushing to get a $20 billion allocation for the industry. Meanwhile, updates came Tuesday from two of the public senior housing companies — real estate investment trusts Ventas (NYSE: VTR) and Healthpeak (NYSE: PEAK). Ventas CEO Debra Cafaro appeared on CNBC, while Healthpeak issued information on its Covid-19 exposure. Read on for details:

— Ventas (NYSE: VTR) CEO Debra Cafaro appeared on CNBC’s “Mad Money with Jim Cramer” on Tuesday and made a case for why investors should still consider the Chicago-based health care REIT a buy. Cafaro cited Ventas’ “very experienced” management team and their ability to weather previous downturns and economic cycles.

“We have an incredible balance sheet and a lot of strength and stability at Ventas. We’re using all the strength that we have and our great operating partners to ensure that [we all] come out of this unprecedented pandemic in the best possible position.”

— National Investment Center for Seniors Housing & Care (NIC) Chief Economist Beth Burnham Mace shared her thoughts on the pandemic and its impact on the long-term care industry. She also announced that NIC is launching a new monthly “Executive Survey” to gather timely information about move-ins and move-outs, changes in occupancy rates, staffing considerations and construction delivery pipelines.

NIC is championing initiatives to give front line workers the support they need and deserve, including:

  • Government authorities giving staff priority access to personal protective equipment (PPE)
  • Immediate, no-hassle access to Covid-19 testing
  • Emergency access to day care, for workers with children

Mace also identified six areas of impact: residents and health care workers; operations; transactions and pricing; economic impacts; financial markets; and construction.

Covid-19 is the type of “unexpected shock” to the economy that Mace warned about to SHN in January, and while it is affecting the industry across the board, there are opportunities for innovation such as expanding telehealth and perhaps even opening ghost kitchens to serve residents who are isolated in their rooms.

“Collectively, let’s help provide support, solutions, encouragement and assistance for those on the frontlines in our industry and for those behind the scenes in management and decision-making roles,” Mace wrote.

— Healthpeak Properties (NYSE: PEAK) on Tuesday released a report sharing its perspectives and observations of the Covid-19 outbreak on its portfolio. So far, people in seven Healthpeak-owned SHOP properties have tested positive for Covid-19 — six of those are operated by Atria Senior Living or Sunrise Senior Living. Five residents at two communities have died, and more positive cases and deaths are expected as the crisis worsens. Protocols enacted to contain the spread of the virus include multiple daily temperature checks of residents and employees, limiting entry to essential medical workers, eliminating group activities and outings, and when necessary, isolation of residents in their suites.

The REIT’s operating partners are experiencing significant cost increases responding to the pandemic, notably in staffing and supply costs. Operators are also offering wage premiums to hourly workers to ensure staffing needs are met. And actions are being taken to address shortages in personal protective equipment (PPE).

Previously scheduled move-ins are still happening, albeit with enhanced safety protocols including 14-day quarantines. Tours of communities have declined as operators have secured buildings to only essential personnel, and virtual tours are being offered. As a result, Healthpeak expects an occupancy decline in the coming weeks due to the reduction in tours and normal move-out activity.

— Wall Street’s rollercoaster ride of late ended trading Tuesday on a high amid hopes for a government aid bill. The Dow Jones closed trading up 11.4%, or 2,113 points. That is the biggest point gain on record and the biggest percentage gain in 27 years.

The S&P 500 and Nasdaq composite rose 9.4% and 8.1%, respectively. The S&P gain was its biggest since 2008.

The “Big 3” health care REITs stock prices responded positively to the news, as well. Welltower (NYSE: WELL) ended trading Tuesday up 4.32%, to $45.37 per share. Ventas traded nearly 12% higher and closed trading at $25.70 per share, and Healthpeak Properties (NYSE: PEAK) closed trading up 6.1%, to $21.16 per share.

Among publicly traded operators, Brookdale Senior Living (NYSE: BKD) stock rose nearly $41% to close Tuesday at $3.13 per share. Five Star Senior Living (NYSE: FVE) stock traded 15.6% higher, to close at $2.75 per share. National Health Investors (NYSE: NHI) closed trading Tuesday 16.21% higher, or $42.80 per share.

Bulletin for Monday, March 23, 2020:

In the midst of Covid-19, taking all steps to protect the health and wellbeing of senior living residents and staff is of paramount importance — but owners and operators are also carefully watching the bottom line. Expenses are on the rise and and move-ins may slow down. The good news is that occupancy has held firm in the early going, according to newly released data. Meanwhile, owners and operators continue to take steps to maintain liquidity.

— Welltower (NYSE: WELL) has secured a $1 billion, 2-year unsecured loan. As of March 20, 2020, the Toledo, Ohio-based REIT had $338 million of cash and cash equivalents and approximately $1.5 billion of available borrowing capacity under its unsecured revolving credit facility. Welltower is continuing to close on previously announced dispositions and has forward sale agreements for 6.8 million shares of common stock under its ATM program.

“While we maintain unwavering confidence in our balance sheet, we believe it is prudent to take further steps to enhance our liquidity profile given current capital market conditions and the uncertain impact of the COVID-19 pandemic,” CFO Tim McHugh stated. “We believe today’s announcement is a testament to our operating platform and capital allocation discipline and will enable us to continue executing on our strategy amidst a volatile macroeconomic backdrop.”

— Two confirmed cases of Covid-19 had been identified in the portfolio of New Senior (NYSE: SNR) as of March 20, the New York City-based REIT reported Monday. The company expects more cases to be identified as testing increases. Independent living giant Holiday Retirement is New Senior’s largest operating partner, managing 98 communities. New Senior shared several protocols that Holiday has implemented, including rolling out MeMD telehealth service to all residents. No material occupancy deterioration has occurred yet as a result of the coronavirus situation, although the REIT does expect some declines in leasing activity.

— Omega Healthcare Investors (NYSE: OHI) has drawn $300 million under its $1.25 billion revolving credit facility and is suspending its dividend reinvestment and common stock purchase plan. The board of the Hunt Valley, Maryland-based REIT authorized the repurchase of up to $200 million of Omega’s outstanding common stock over the next 12 months, funded using cash flow from operations, balance sheet cash, planned asset sales, and/or borrowings under Omega’s revolving credit facility.

“Our responsibility is to both preserve and prudently allocate capital and, with the impact of COVID-19 continuing to rapidly evolve, we are seeking to protect our liquidity while having the opportunity to judiciously capitalize on any material mispricing in our equity,” CEO Taylor Pickett stated. “While we have not seen any material change in the financial performance of our operators, by drawing down on a portion of our credit facility, we are bolstering our liquidity to weather a potential significant and prolonged impact to our business and are better positioned to creatively support our operators if necessary.”

— As the Covid-19 pandemic expanded last week, senior housing occupancy remained steady, with some providers seeing increased move-ins, according to survey data from Activated Insights, the senior care group of Great Place to Work.

Nearly 80% of operators saw no significant uptick in move-outs last week, while 21% reported increased occupancy. Some of the move-ins were pre-scheduled, but some are being motivated by the recognition that senior living communities are safer places for older adults to be, due to rigorous infection control procedures.

“The data reflect how quickly senior housing operators have adapted lessons learned in Washington state to protect our nation’s vulnerable elders and frontline staff by upholding the highest standards of care,” said Robert Kramer, Founder and Strategic Advisor at the National Investment Center for Seniors Housing & Care (NIC). “The results from this survey are especially timely since the investment community has been starved for data in this time of uncertainty.”

The survey represented 1,078 buildings and 100,899 units, and was conducted via phone on March 18-March 19.

— As federal lawmakers continued tense negotiations over a nearly $2 trillion stimulus plan, industry associations Argentum and ASHA sent a letter to Senate and House appropriators urging that the Public Health and Social Services Emergency Fund be increased to $100 billion, and that 20% should be reserved for senior living providers.

— The commercial real estate financing market is “on the brink of collapse,” requiring swift and sweeping action, according to Colony Capital (NYSE: CLNY) Chairman and outgoing CEO Tom Barrack. He outlined the steps that he believes would ward off calamity, including $500 billion in funds to inject liquidity into the financial system, and a “time-out” to avert “rushed and widespread margin calls” and other actions that would precipitate a domino effect. As of Dec. 31, 2019, Colony’s consolidated healthcare portfolio included 154 senior housing properties.

— In an effort to alleviate isolation and loneliness among senior living residents during the Covid-19 outbreak, Argentum has launched a Facebook group called Sharing for Seniors: “The call to action for this group is to help reduce the feeling of isolation for these older adults and use this space to share positive messages of connection, inspiration, hope, and appreciation, to brighten their days. Post a photo, video, message, song, dance, or artwork (get creative!), that our network of senior living companies and communities can share with their residents and families.”

— The federal government is releasing a new nursing home survey tool, taking a stricter approach to infection control by applying lessons from the Covid-19 outbreak at a Kirkland, Washington, skilled nursing facility.

To better understand and report on Covid-19, we here at SHN want to hear how providers are responding. Please take this 2-minute survey, and you’ll have a chance to win a $100 Visa gift card.

Bulletin for the weekend of March 21 & 22, 2020:

With senior living providers under enormous financial strain as a result of being on the frontlines of the Covid-19 pandemic, industry associations are pushing for $20 billion to be earmarked for the sector in the nearly $2 trillion “Stimulus 3.0” package being hammered out on Capitol Hill.

After a weekend of negotiations, the Senate failed on Sunday to advance the Coronavirus Aid, Relief & Economic Security (CARES) Act through a key procedural vote. Democratic lawmakers argue that the bill — which includes $500 billion for distressed companies — is too favorable to large corporations. Negotiations were continuing Sunday night, with President Donald Trump expressing optimism that an agreement could be reached.

Argentum and the American Seniors Housing Association (ASHA) over the weekend urged members to reach out to legislators to explain why the $20 billion in financial support is critical for the senior living industry and the nation as a whole.

“While the senior living industry continues to work diligently on the front lines of the pandemic, the financial stress cannot be overstated,” ASHA President David Schless said in a statement provided to Senior Housing News. “It is imperative that seniors housing communities across the nation receive immediate financial support that will allow them to continue to serve and protect the residents and staff. While Congress is looking to bail out cruise lines and airlines, they need to prioritize the seniors who are disproportionately impacted by the virus and the frontline staff and caregivers who are working diligently to keep our seniors from this terrible virus.”

Argentum President and CEO James Balda emphasized the same points and noted that tax incentives are being requested in addition to the billions in relief.

“As an industry, we are facing a financial strain that left unaided, will significantly impact the nation’s ability to respond to the Covid-19 crisis and undermine the ability to provide long-term care services and supports to the nation’s seniors for years to come,” he said in a statement to SHN. “We are seeking $20 billion in relief and asking Congress to include ALL senior living communities and employees in their forthcoming stimulus bill. Specifically, we are asking for sufficient financial resources to ensure communities can continue to operate, as well as tax incentives to engage in activities related to Covid-19 prevention and mitigation.”

Speaker of the House Nancy Pelosi on Sunday indicated that the House of Representatives would create its own, separate stimulus package. Argentum plans to push for the $20 billion in senior living aid to be included in any House bill, Argentum COO Maribeth Bersani said in an email to SHN.

Already, senior living providers are running out of supplies, incurring additional labor-related costs, and spending money related to expanded infection control, the associations noted in a March 19 letter to Congressional leaders and U.S. Treasury Secretary Steven Mnuchin.

Stock futures fell on the news that the bill had not advanced through the Senate vote Sunday night, with the Dow Jones Industrial Average futures dropping 800 points.

Publicly traded senior living operators and owners have seen their market capitalization plummet during recent stock market shocks related to Covid-19. For example, shares in Brentwood, Tennessee-based Brookdale Senior Living (NSYE: BKD) have fallen from $8.39 on Feb. 19 to $1.88 as trading ended last Friday.

CDC’s Covid-19 Guidance for Senior Living Communities

The U.S. Centers for Disease Control & Prevention (CDC) has issued interim guidance on how retirement communities and independent living communities can prevent the spread of Covid-19. The guidance can be found on a CDC website last reviewed March 20, and includes many steps that senior living communities across the United States are already taking, including canceling all non-essential group activities and public events; cleaning/disinfecting all common areas and shared facilities; and maintaining social distancing.

Other recommendations include establishing a “buddy system” for residents, to ensure regular check-ins and back-up caregiving in the event a primary caretaker becomes ill.

Should Covid-19 be diagnosed in a senior living setting, an operator should coordinate with local health officials; communicate with residents, workers, volunteers and visitors; as residents to self-monitor for 14 days; and clean and disinfect thoroughly.

Click here to access the general CDC guidance for retirement communities, and click here to access the interim guidance on preventing the spread of Covid-19 in these settings.

Click here to access separate guidance for long-term care facilities and nursing homes. Click here to access a preparedness checklist for long-term care facilities and nursing homes; the CDC notes that lower-acuity senior living settings may want to adjust this checklist to meet their own “needs and circumstances.”

Meanwhile, a new CDC report shows the vast majority of U.S. Covid-19 deaths between February 12 and March 16 were among people 65 years of age or older. In fact, 8 out of every 10 Covid-19 deaths in the U.S. during that period belonged to that age cohort.

Atlas Senior Living To Begin Testing in Communities

Atlas Senior Living might be the first senior living provider in the U.S. to offer its own Covid-19 testing to residents.

The Birmingham, Alabama-based company has partnered with Assurance Scientific Laboratories to provide Covid-19 test kits to all of its 24 retirement communities in Alabama, Florida, Georgia, Kentucky, South Carolina and Tennessee. The test kits are slated to be available starting during the week of March 23.

Tech Providers Offering Free Products, Services

As the Covid-19 crisis deepens across the country and within senior living, technology companies are making certain products and services available free of charge. The number of tech companies doing so is growing quickly, but a partial list includes:

— Digital health solutions firm VitalTec, which is offering free telehealth access for patients and physicians on its namesake platform through a partnership with Concord Health Partners. The move is aimed at accomplishing social distancing, which the CDC and other authorities say will be vitally important in stopping the spread of Covid-19.

— Status Solutions is making the web version of its CATIE communications solution free of charge for senior living communities.

— Eversound is launching new live-streamed, interactive programming to senior living communities, as a way to increase resident engagement through virtual connections with cultural institutions and subject-matter experts. The company is offering free access to more than 100 recordings of past interactive events, through April 30.

— CareAcademy is offering a free Covid-19 certification class, covering best practices for direct care workers.

— Relias is offering free access to training courses and “how-to” materials related to Covid-19.

— GreatCall is offering 24/7 access to registered nurses via its Urgent Care service free of charge to customers during the outbreak.

Here’s what else you need for know for March 22, 2020:

  • As senior living communities ban non-essential visitors and change operational procedures, that could be creating care gaps for residents, STAT reported. ““I would bet there are residents who are going without getting their teeth brushed, because the staff is trying to implement measures to save their lives,” Lisa Sweet, chief clinical officer of the National Association of Health Care Assistants, told the publication.
  • Not all Covid-19 news is dire; examples abound of people going above and beyond in the midst of the pandemic. Family members of residents are writing messages in brightly colored chalk on the sidewalk outside the Heritage at Sagewood in Grand Island, Nebraska. And Gayle King, a 76-year-old resident at Ohio Living Westminster-Thurber, is working hard to make sure that other residents continue to have some socialization.

Bulletin for Thursday, March 19, 2020:

Each day brings news of more senior living residents and staff members diagnosed with Covid-19. Some of the nation’s largest providers, including Atria Senior Living and Five Star Senior Living, as well as major regional players such as Benchmark, are now responding to these situations. Meanwhile, Cindy Baier — CEO of Brookdale Senior Living (NYSE: BKD), the nation’s largest provider — appeared in a video message to provide an update on the company’s latest policies. The company is restricting all visitors to buildings, except in end-of-life situations or pursuant to guidance of public health officials.

— Among the latest reports of new Covid-19 cases in senior living: five residents of Atria Burlingame in California; a resident of The Kensington in Falls Church, Virginia; five residents of Camellia at Deerwood in Jacksonville, Florida; a staff member at Church Creek, a community located in Arlington Heights, Illinois, operated by Five Star Senior Living; six people at Laurel Manor Care Center, operated by Volunteers of America, in Colorado Springs, Colorado. A resident of Bonaventure of Tri-Cities in Richland, Washington, who died last Saturday was subsequently diagnosed as having had Covid-19. A man who resided at Benchmark Senior Living at Ridgefield Crossings also passed away after being hospitalized and diagnosed with Covid-19.

The following statement from Atria CEO John Moore was provided to Senior Housing News on Thursday:

“As you can imagine, we’re very busy. People are stepping up and doing great things. I couldn’t be more proud of how our team is facing these challenges.

There is and will be so much more to say about how we are learning to both keep our residents safe and also find ways to allow our residents to have community, engagement and continued connection to family and friends in a mostly quarantined environment.”

— “In light of the changing guidelines, Brookdale is tightening up our current policies and protocols. At this time, we are restricting all visitors and non-essential health care personnel to our communities. There is an exception for certain compassionate care situations, such as the end of life, or pursuant to the guidance of public health officials,” Brookdale CEO Cindy Baier said in an updated video message posted Thursday.

— Only 33 people in Florida retirement haven The Villages have been tested for Covid-19, and the state’s large population of seniors could be at particular risk, The New York Times reported.

— Family members of residents understand the need for visitor restrictions at senior living communities, but they are struggling with emotional fallout as a result of being separated from loved ones during the pandemic, according to a story in the San Diego Union Tribune.

— Cleveland, Tennessee-based Legacy Senior Living canceled its leadership retreat and funneled the funds into Covid-19 response at the community level. The company has installed “immunity boost” stations at all of its 14 communities, featuring healthy food and vitamin-infused hydration. “We believe these proactive wellness efforts can give residents a positive outlook, a sense of calm and perhaps even a stronger immune system,” said Bryan Cook, co-founder and president of Legacy Senior Living.

Bulletin for Wednesday, March 18, 2020:

  • “Limitations in effective infection control and prevention and staff members working in multiple facilities contributed to intra- and interfacility spread.” Read the whole CDC report on how Covid-19 spread through long-term care settings in Washington.
  • National Health Investors (NYSE: NHI) has updated its website to segment its portfolio by coronavirus testing and diagnosis status. So far, no active cases have been reported in communities owned by the Murfreesboro, Tennessee-based REIT.
  • The New York Times reports on social isolation among seniors as a result of Covid-19.
  • Older adults living at home face a “host of challenges,” Kaiser Health News reported.
  • “Our experienced staff remains onsite and has implemented additional quarantine protocols,” Atria Senior Living stated, as the large Louisville, Kentucky-based provider responded to a Covid-19 outbreak at a Fort Lauderdale community.

Bulletin for Tuesday, March 17, 2020:

  • Ventas drew $2.75B from revolving line of credit, withdrew 2020 guidance.
  • Welltower announced two Covid-19 diagnoses in its senior housing portfolio; CEO Tom DeRosa touted senior living as a key setting for keeping coronavirus patients out of hospitals to maintain bed availability.
  • Brookdale has drawn on its full revolving line of credit, stopped its share repurchasing program and halted some capex projects as expenses have grown due to Covid-19.
  • The first cases of coronavirus in senior living in the state of Georgia were reported, involving three residents and an employee of a Phoenix Senior Living building.
  • CMS updated guidance for PACE programs.

Bulletin for Monday, March 16, 2020:

  • Two more senior living communities in Kirkland, Washington, have reported cases of Covid-19. A Life Care Centers community here was hit in the early days of the U.S. outbreak and has lost more than two-dozen residents to the virus.
  • The Dow plummeted nearly 3,000 points on Monday after plunging late last week. Senior housing related stocks continued to be affected, with the “Big 3” REITs all down more than 20% and Brookdale Senior Living (NYSE: BKD) trading down nearly 36% at the close.
  • Irvine, California-based Healthpeak (NYSE: PEAK) — one of the Big 3 REITs — issued a Covid-19 update. The company expects a deterioration in performance relative to expectations at least for the next few months.
  • Industry associations Argentum and ASHA urged Congress to exempt senior living providers from certain provisions of the Families First Coronavirus Response Act that they argued would “decimate” providers’ workforces.
  • Personal care aides are among the workers most at-risk from Covid-19, according to a New York Times analysis.
  • Covid-19 infections continue to spread among health care professionals generally, with workers in five states testing positive over the weekend.
  • Testing for an experimental coronavirus vaccine got underway Monday, with the first volunteer receiving the shot in Seattle.

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