trending Market Intelligence /marketintelligence/en/news-insights/trending/PSCfwaE0xIv7LsV9dvn_bQ2 content esgSubNav
In This List

Skilled nursing occupancy continues long slide in Q3

Blog

Using ESG Analysis to Support a Sustainable Future

Blog

A Pharmaceutical Company Capitalizes on M&A Activity with Brokerage Research

Blog

2021 Year in Review: Highlighting Key Investment Banking Trends

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings


Skilled nursing occupancy continues long slide in Q3

Occupancy in U.S. skilled nursing properties continued to fall in the third quarter with an unusually large year-over-year decline, the National Investment Center for Seniors Housing & Care, or NIC, said in a report.

The quarter-end occupancy figure of 81.6% represented a 29-basis-point decline from the end of the second quarter, and a 167-point decline year over year. The year-over-year decline was the second-largest such drop in the last five years for the third quarter. Occupancy has stayed flat or even increased in previous third quarters, so the dip is "most likely not a seasonal phenomenon," NIC said.

Downward pressure on occupancy has been steady since May 2015, the last month that occupancy was 85% or higher, the firm added.

Managed Medicare revenue per patient day also continued to slide, reaching a new low within NIC's nearly five-year window of $431. Overall, the figure has declined 13.2% from five years earlier, with a negative 2.8% compounded annual growth rate over the period. The rate fell 1.8% quarter over quarter in what NIC called a "significant deterioration" from the prior quarterly decline of 0.2%.