Skilled nursing operators took another hit yesterday as Senior Care Centers, LLC, filed for bankruptcy, hoping to get out from under the weight of lease costs.
Senior Care Centers, a leading skilled nursing and senior living provider with locations in Texas and Louisiana, announced the implementation of a plan to strengthen the company’s finances while allowing it without interruption to continue providing comprehensive care and support to its nearly 10,000 patients and residents.
Skilled nursing operators are struggling with cuts in reimbursements from government agencies and private insurers and increasing rent payments. National-level occupancy numbers also remain low, exacerbating the market volatility.
Senior Care Centers is currently evaluating each of its communities and working with the individual landlords to determine the best path forward for each location.
Large and national skilled nursing operators will continue to struggle as the market slowly transitions from a national structure to a regional and local model more sensitive to local pressures and opportunities.