PPS eBook "The Sky Isn't Falling" Says SNFs are Thriving Even With Medicare Cuts
eBook observes that skilled nursing facility providers are realizing record financial performance in the wake of Medicare cuts, recommends steps for other SNFs to thrive
Atlanta, Ga (PRWEB) October 29, 2012
Patient Placement Systems (PPS) announced the publication of “The Sky Isn't Falling,” a provocative analysis of how many top skilled nursing facility (SNF) providers have thrived since 11.1 percent Medicare cuts took effect in October 2011.
The eBook highlights specific recent financial results from top SNF companies:
- Kindred Healthcare had record revenues to close out 2011 and reported Q2 2012 revenue growth of 19 percent to $1.5 billion compared with Q2 2011
- Ensign Group facility census was up 4.4 percent in Q1 2012 over the same quarter in 2011, with Medicare days increasing by 3.6 percent. Revenues posted a record $202.2 million.
- National Healthcare Corporation saw net income to shareholders increase 25.8 percent to $55.4 million in 2011 from $44 million in 2010
- Advocat/Diversicare's revenues in 2011 increased 8.5 percent above 2010, from $290 million to $314.7 million, and Q1 2012 revenues of $77.1 million were almost identical to Q1 2011 despite the Medicare cuts
“Nearly one year after the initial cuts, the sky is not falling, and major SNF providers are thriving,” said Doug Walker, vice president and general manager of Patient Placement Systems. “We thought it was important to highlight these successes in the eBook—and to provide the steps for other SNFs to follow for similar exceptional financial performance.”
The eBook provides five recommendations for success, documenting how several PPS partner SNFs have applied them in conjunction with the Web-based Referral Management System (RMS) to drive dramatic results:
•Greystone Healthcare Management (27 SNFs): Documented a 5 percent census increase, an 11.5 percent increase in Medicare census across 27 SNFs and referral response times reduced from 30 minutes to eight minutes.
•Royal Health Group (6 SNFs): Realized a 20 percent increase in total referrals managed, 80 percent faster referral response times and more than double the conversion rates for electronic referrals from other vendor systems.
•Berkshire Health Systems (17 SNFs): Increased overall referral volumes 7.4 percent, patient admissions by 25 percent and admitted an additional 70 patients per month across 17 facilities.
“The Sky Isn't Falling: SNFs Thriving in the Face of Medicare Cuts” is available for immediate free download by visiting PatientPlacement.com/thrive
About Patient Placement Systems
Patient Placement Systems designed the Web-based Referral Management System to automate and accelerate admissions, marketing, bed management and reporting for skilled nursing facilities, helping them market more effectively, build and manage quality census, improve case mix, outmaneuver competitors, and significantly increase revenue. Clients have increased census by 5 percent and Medicare census by 11.5 percent, improved referral response times by more than 80 percent, and dramatically improved case mix and revenue. For more information, visit PatientPlacement.com or call 877-748-6656. PPS also publishes CaringForward.com, an industry blog of ideas, insight and technology to inform and improve long-term care.
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