- The Biden administration announced plans to end the COVID-19 national emergency and public health emergency (“PHE”) on May 11, 2023. In the wake of this announcement, the Kaiser Family Foundation published a report on the repercussions of ending the PHE. The Consolidated Appropriations Act of 2023 will extend certain PHE-related coverage of telehealth, but other popular PHE flexibilities have yet to be extended, such as the Ryan Haight Act, which allows providers to use telehealth to prescribe controlled substances.
- Pittsburgh Mayor Ed Gainey signed an executive order to audit the tax-exempt status of tens of thousands of properties in the city, with the aim of scrutinizing exemptions where the property owner “may not be fulfilling their obligations as an institution of purely public charity.” This comes on the heels of a failed negotiation in 2022 whereby the University of Pittsburgh Medical Center sought a payment-in-lieu-of-tax agreement with the city.
- Hall Render is pleased to announce that Amy DeColibus has joined the firm in its Denver office. Amy brings more than 20 years of real estate experience, including development, sales and lease administration.
- VMG Health released an ASC year in review piece that highlighted several pre-pandemic trends that showed recovery in 2022 and expected continuation into the new year. ASCs have continued to see a shift of higher-acuity procedures in inpatient versus outpatient, a consolidation of ASCs by management companies and a push by hospitals to grow their ambulatory footprints.
- Bain & Company released its year in review and outlook on the health care private equity market. The report indicated that, in the latter parts of 2022, more funds looked to invest in life sciences and health care information technology, which investors viewed as more resistant to inflation-driven downturns.
- ScionHealth, the recent spinoff from Kindred and LifePoint, completed its acquisition of Cornerstone Healthcare Group, comprising 15 specialty hospitals, 8 senior living locations and approximately 3,000 full-time equivalent employees.
- Becker’s interviewed several hospital CEOs and CFOs to discuss the acute challenges facing rural hospitals amid persistent workforce shortages, rising costs and reimbursement plateaus. Several executives mentioned mobile health, partnerships and new payment methods as strategies to boost rural health sustainability.
- The NAIOP Research Foundation released its 2023 Economic Impacts of Commercial Real Estate report. The results indicate that the health care real estate sector experienced the third-highest spending increase as compared with other sectors between 2021 and 2022 (behind manufacturing and retail).
- According to a recent report, outpatient facilities, such as office-based labs and ASCs, are generating more profitability. This has led to a concomitant increase in regulatory scrutiny of these facilities.
- Dwight Capital and its affiliated REIT announced closing over $191 million in senior living and SNF financing during Q4 2022.
For more information on real estate matters, please contact:
- Andrew Dick at adick@hallrender.com or (317) 977-1491;
- Joel Swider at jswider@hallrender.com or (317) 429-3638; or
- Your primary Hall Render contact.
Special thanks to Thomas Dziwlik, undergraduate intern, for his assistance in the preparation of this article.
Hall Render blog posts and articles are intended for informational purposes only. For ethical reasons, Hall Render attorneys cannot give legal advice outside of an attorney-client relationship.
