Investor Presentaiton
COVID-19 Update
Impact
COVID-19 is particularly impactful to
1 the old and frail, a key cohort of SNFs
and Assisted Living Facilities (ALFs)
Response
Federal and many State governments
1 provided significant and necessary
relief to the industry
Outcomes
Operators still face a difficult, albeit
1 improving, environment
Staff at SNFs and ALFs have risked their health
2 and the health of their families to protect
3
residents
Operators implemented new and evolving
protocols to limit the spread of COVID-19
However, State relief has varied
2 significantly, and Federal relief has
slowed in the last 24 months
Many states have increased their
3 Medicaid reimbursement rates to
reflect increased cost pressures
Expenses per patient day have eased but
2 remain elevated compared to January of
2020, primarily due to higher staffing
related costs
Occupancy has increased ~8% from the
3 low in January of 2021
Occupancy declined ~13% between February
4 2020 and January 2021
Expenses increased by as much as $45 PPD
5 from January of 2020 due to staffing and PPE
CMS increased their Medicare FFS SNF
4 rate by 4.0%, effective October 2023.
This is net of the final 2.3% of the 4.6%
PDPM claw back that was mandated in
2020.
We collected ~91% of our 4Q23
contractual rent and mortgage payments
from our operators.
QOMEGA
Information provided as of February 8th, 2024
SOURCE
INDEX
INVESTOR PRESENTATION 9View entire presentation