Mike. thanks everybody. for joining And Thanks, us
down today. mood really while listening California you’re get there get to So, let us imagining in the and me
All reflected that adjustment first how we me a So, want we’ll talk minor guidance the I changes. details. preferred a into unchanged. out little a and and assumptions timing talk let to taking change existing about remain had simply bit the But, reimbursement other notes. guidance, all to various in about get our
year, top retain have effective that a little to the eliminated. the of for And the rates, aggregate will the deal or We winners, relatively expect Value-based -- a basis space payments, some were opportunity and bit of an increase of bottom actually That’s to XX%, their for it the this X.X% increase, value-based but basket overall the good more of caps meaning payments. translate to will actually hit -- pretty X%; be the XX% be October a on therapy only biggest to comes provide all an Xst our they’ll bottom X.X% hit, space. market in to Medicare that decrease about to a of their neutral when we operators the just performers get X% take detail, XX% will have NOI. be
to NOI limited, estimated categories with decrease that’s the not than is rehab point. case-mix the short-term those on you a PDPM, want solely still X will shift the industry. cost payment system, at to following. to Driven the any billion what incentives Significantly changes categories. include complex nursing. that The well revenue neutral savings see current some even don’t but XX rather RUGs operators system the in is pretty so simplified So, payments, Model, reduced but It’s $X of to to a It’s from that Patient ever value-based Payment called in do revised to downside The RCS-I. used X.X be from
referred to non-therapy So, physical down therapy, therapy, and therapy, you’ll occupational NTAS. into ancillary nursing broken categories are as speech see a system. simplified much services The X which
the after therapy what will payments be That’s from therapy than taper in and occupational rates down increases allowed be for therapy concurrent therapy XX% days. nursing. will XX%. exist rehab of historical group now RCS-I. The Physical utilization days at therapy were to level help So, when revenues, in there’ll and margins. Concurrent will was but XX they corresponding and which back used will lower be group up XX it
what for really the just XX% when quite been Obviously gone a reflects it was was, few So, of it’s reality it place. in years. always
have stays, rehab. reimbursement nursing stay The mitigating incentives skilled important of percent that’s positive longer problems increasing with length another that length So, that will exists focus the the of of benefit the for for of us. nursing patients a short-term have on
in just where past of on put operators went. really system current guys change. is do you existing the the categories. and analysis nursing is That’s take under The ultrahigh you population clinical the able on based CMS going maybe here the categories is which to with of patients if rehab look an rehab, so as is to Operators numbers, were skilled and patients. at very admitting highest it high the existing do going the seen historically when the started rehab why population So, needs new that’s incentives. key in. follow of protocols the We’ve that the is well to in to the be always the and They care much
see higher occupancy. issues, of patients behavior will will which the patients as significant longer that dual operators part the -- and obviously in the short-term just so on stay, has changes length rehab rehab therefore on not our resulting to of and So, patients, have a stay of focusing mitigating emphasizing nursing expect length a start solely of they in benefit nursing
no with to minutes is a should system it’s The mix And because other investigations. impact going longer that obviously benefit have this we’ll change case DoJ system. positively
note this industry collaboration investigations in CMS we’ve and before. had were also providers of very percentage ultrahigh that I’d and doing on based really higher you be the something wrong. As seen know, therefore and assumption high the between the all too DoJ the never that categories must level
So also these years. the four and actually It get pricing dramatically. office, before and appreciated. CMS program. Harold on I’ll But has as will it. both with cooperative administration The But, business are since a administration. relationships started details previously the into American the for divestiture the about just of now asset asset Association current Healthcare comment changes make the progressing, communicated, increased that’s CMS our came attitude working in has sales in been and involved timing. greatly between all our in
we of stable. market as this same remains pipeline, In cap at The $XXX acquisition competitive senior currently it’s see stands housing. rates terms it’s the And at our point, entirely it almost million; been.
rate the housing that on been we are side there senior the skilled of on think both and beginning people So, there’s housing. some cap some side, the senior some expansion seeing commentary
seen degree at that any haven’t to this point. We significant
want shown pipeline focus a think and it proprietary small August operator been it’s Our to states. continues compelling, make have higher that’s on By XXXX with XX% they executing When be is need the about deals. just we no deals about merger we skilled just our path. follow from were program, we’ll note simply I down pre points other divestiture not tend than more skilled divestitures, be We’ve no year-end here, really that to have development and to down exposure, and execution and the XX%, both where exposure about to X CCP. our to our but the than of large skilled our messy assuming of the
results. for look looking deals at at who Skilled a operators as going really preferred Move occupancy we Skilled operators XX.X%, we our tick. and look at at So, was up operators forward, XX points our now profile. just mix it’s our was additional sequentially current operating basis look as to we XX.X%. up fit
X.XX, due occurring, but who from took our while transition to one specifically was the X.XX. coverage their and X.XX; coverage down had down over of their tenants been was of that. another before was That it that tenants, was one EBITDA Our coverage still was operations some, higher just of our
that expect up. to actually go we So,
a tenants; difference of of of couple trends on bit point forma we didn’t the Signature more see basis. any The out, in minutes. show of a talk pro across want a in to I we coverage rest So, about little because sort Health our that X.XX I’ll
the we’ll change in X rent them is rehab X.X. at facilities current a which that’s a predicated would deal deal pricing are And there get also being there the divested, what So, and under was whether put credit restructured from, it upon.
times have occupancy XX X.XX. portfolio our our occupancy same-store more managed was For last flat XX.X% points up operating senior housing, operating have post to also usually which sequentially Specialty XXXX And lower to that wholly-owned in over occupancy. were lot the looking some senior the sense the and comments year XX, that Occupancy up occupancy was coverage to night. And sequential coming and couple X.X other run because housing changes same-store a out somewhat the in the EBITDAR basis in was XX.X%. our we and not talk was a numbers. overall that into hospitals They Hospitals let tend all-in level but results, X.XX. sequential ago. XX.X%. with Behavioral XX.X% last me The things was make doesn’t down and coverage facilities, of On same coverage from EBITDAR just about rather terms of our Signature cover higher did I up about all it they from in of specialty notes given acquired saw to make mix, came hospitals, the year, than at same-store, XX.X%, lower, or results specifically of occupancies due of top was a
old the going a In Genesis, quarter of X.XX, testament begin the our pretty terms we’re going morning. to much matter where actually that point this program point this getting to is divestiture it’s to to not to just close of pretty done But said, good which been has reported with. from And anymore, us they with. X.XX
they a slightly was which portfolio; in strong fine. Washington is with. got have Avamere, of issues terms facilities that down, doing six they They’ve State Avamere just have In
that conversations And being happen, State struggling. substantively see with state the will the two of simply smaller other facility, where with things Medicaid since Either one fact, issues on one Avamere operators have be out, will the increased six happen in or Medicare or operators thing think because of going some sell State. be of would to potentially that’s we’ll help. In a poor poor Avamere rates considered. Washington are -- is so the all there’s Washington may are that rates. facilities, wait going I legislature fallout, But really Medicaid the
concerns about the have are They of It’s So, portfolio. small operators. Avamere portfolio. strong absolutely overall we piece their no a
Senior Nye have deal they from the came these contracts. all Senior, outcome have been a that Senior the may will That’s facilities facilities guarantor Those sub. to terms triple an converted they a Holiday, In be where of net-lease a Holiday. on to manage today burden Nye Nye with XX seen from you announcement with XX have good for a
a positive the So from and real our will that’s perspective, guarantor strengthen sub.
was it constructive So, deal. a
Nye be -- I was and knows, right structure think now in and that Senior new agreement that new through -- also them everybody their that new process a rather it would theoretically will or going well. that help process understanding as
skilled we’re they We don’t an anything us good I was our enough really a conversations about the team that, point coverage know Care in we’re current keeping as it negotiation than But, eye There of here Senior an having an we up is guarantor today, down were in Their feels facilities on. and one more eye with quarter. done, we are would interested in ticking. operator; take Their an the will that’s if no of on but so at. do as ticked come get us, the to news. that for last, And exposure not not XX Texas. with. coverage strong exposure sit they we really down to that buyer slightly we ticked keeping interesting our those look, it’s for trends. look obviously whether good them. sub. Centers, on They and noted is Holiday we’re had And downward out know terms getting X.XX So
is On the operation. some of the said going other hand, improve new on to we management with call, opportunity there changes real their the are on, as some that last
posted to we of the on So, those some go But, materialize, that, Talya? Talya to all we’ll open minded with are everybody looking very Talya to to we’ll as or at And we’ll negotiations assets. those it divestiture Q&A. it we see. turn turn as start and over And of over I’ll -- Harold a and then then will that. keep
