Author Bio

Steve Kennedy

Steve is a senior managing director and member of the executive committee at Lancaster Pollard. He is the regional manager for the firm’s Great Lakes and South Central regions and manages the firm’s relationships with Washington D.C. as the company’s senior governmental liaison. He is based out of the firm's headquarters in Columbus, Ohio.

More by this author

Tax Reform and its Impact on Health Care and Senior Living Finance

1/8/2018 Tax reform had a wild ride in 2017. Reform advocates were bullish as the year began, citing one-party control of Washington, a president willing to take risks, and a speaker of the house with a detailed plan as reasons why a package would pass by March. By mid-year, following multiple failed attempts to repeal Obamacare and a litany of oxygen-sucking scandals, tax reform passing in 2017 suddenly seemed far-fetched. That outlook changed again, however, as the year ended with a mad dash by the GOP to notch a legislative win. The result was a comprehensive tax reform bill on the president’s desk by Christmas. Below, we take a look at key provisions in the bill and detail how seniors housing and health care providers looking for capital financing in 2018 can be prepared for the impending changes. Read More

Medicaid Block Grants and the Prospective Effects on States

12/11/2017 In the last edition of The Capital Issue, we detailed Medicaid spending trends and explored how recent block grant proposals would affect health care providers. In this issue, we examine the effects of block granting on states in general while also providing a detailed analysis focused on three specific states—Illinois, Michigan and Ohio. Read More

Medicaid Block Grants and the Prospective Effect on Providers

10/9/2017 Obamacare repeal has become a zombie. It won’t die, but it’s not exactly living either. The fact that it won’t completely die is telling, however, and signals that the possibility of repeal will likely linger as an issue through the next several election cycles. Of the many difficult aspects of reforming health care, perhaps the most debated is what to do with Medicaid spending and block grant proposals. And no matter what form the zombie resurfaces in down the road, be it repeal or reform, there will be big questions regarding the future of Medicaid. Below, we take a close look at Medicaid spending trends and detail what recent block grant proposals might look like if they were to become reality.  Read More

Gaining Momentum: Promoting and Developing Affordable Assisted Living

4/10/2017 In recent years, increasing attention is being paid to the financial challenges of the impending silver tsunami of Baby Boomers approaching retirement. Simply put, their fiscal outlook is bleak. In regard to retirement savings, too many will have not enough. For the seniors housing and care industry, the time is now to invest in and develop more affordable assisted living (AAL) options. Fortunately, for both the industry and the low- and middle-income seniors of the present and future, there are several organizations and companies doing outstanding work to help address the problem. Read More

2017 Seniors Housing and Care Market Outlook

2/13/2017 The past 12 months have been quite eventful for the health care market, especially the seniors housing and care sector. There have been massive deals, real estate investment trust (REIT) divestitures of skilled nursing facilities (SNFs), concerns of overbuilding and changes in payor mix. While there are a number of uncertainties regarding the health care market and 2017, one thing is certain—changes are coming. We take a look at recent market data to shed light on the past 12 months, identify trends, and provide a big picture analysis of what the industry looks like as 2017 begins. Read More

2017 Seniors Housing and Care Survey

2/11/2017 In December of 2016, Lancaster Pollard sent an online survey to approximately 4,000 leaders at seniors housing and care facilities throughout the U.S. Over the course of two weeks, 273 respondents completed the online survey. The survey has a 95% confidence level and a confidence interval of 5.38, meaning that the differences in responses of 5 percentage points or more are statistically significant. Read More

Presidential Positions: Where the Candidates Stand on Health Care, Housing

10/7/2016 In seemingly every presidential election, we are told by pundits and politicos that this particular contest represents the starkest choice between two vastly opposed ideologies that we’ve seen in decades. The future, your kid’s future and your grandchildren’s future, depends on its outcome. Read More

On the Rise: How Three Hospitals Improved Their Fiscal Outlooks

2/4/2016 The last several years have been challenging for hospitals, as uncertainty regarding the Affordable Care Act (ACA) and a narrowing in operating profitability became the norm. In 2015, however, the three major credit rating agencies (CRAs) presented refreshingly optimistic reports, particularly for the larger providers, citing strong revenue growth, continued cost containment, greater clarity with respect to the ACA and industry trends (e.g., consolidation and technology) as reasons for the positive momentum. Read More

2015 Seniors Housing and Care Survey

2/3/2016 In December of 2015, Lancaster Pollard sent an online survey to approximately 4,000 leaders at seniors housing and care facilities throughout the U.S. Over the course of two weeks, 295 respondents completed the online survey. The survey has a 95% confidence level and a confidence interval of 5.68, meaning that the differences in responses of 6 percentage points or more are statistically significant. Read More

How Seniors Housing Supply and Demand is Adjusting to Meet the Next Generation

12/4/2015 The seniors housing industry is at an inflection point. This is not simply because of the aging baby boomers, rather, because this generation has drastically different financial situations and living expectations as compared to their parents. Diminished finances, a lack of caregivers, and rising costs converge to create an unprecedented need for seniors housing at a variety of price points. As such, traditional seniors housing supply will be required to adapt to meet the needs of the new generation of seniors in the coming decade. Read More

Supportive Living Facilities and Medicaid Waivers: Addressing the Wave of Low- and Moderate-Income Seniors

8/7/2015 In 2011, the Baby Boomer wave began to crash upon the shores of retirement. By 2030, 72.8 million Americans will be over the age of 65, an increase from 43.1 million in 2012. While developments in health care have added quality as well as quantity to the average lifespan, aging often still brings the need for assistance with Activities of Daily Living (ADLs). Many individuals retain the majority of their physical and mental abilities and yet still require some assistance with one to three ADLs. A segment of these individuals without the physical capacity to care entirely for themselves are low- to moderate-income seniors unable to afford traditional assisted living (AL) services. These individuals present an opportunity for operators and states to think creatively about how best to care for their financial, physical and mental needs.  Read More

Seniors Housing Opportunities for Hospitals

12/8/2014 Community hospitals face many challenges given the dynamic nature of the health care sector today. Compressed margins, competition from acquisitive health systems, and physician recruitment and retention are just a few examples. However, community hospitals may be able to leverage some of their inherent strengths to mitigate some of these challenges through prudent investments in seniors housing within their market area. Read More

How Hospitals Are Shifting Resources Post-ACA

4/22/2014 Health care reform has caused a seismic shift in the U.S. health care landscape. The aftershocks continue to be far reaching—toppling long-standing paradigms and causing hospitals to reevaluate how they currently operate. Read More

HUD LEAN Program Changes─Part 2: Top Five Ways New AR Financing Documents Could Affect Providers

8/17/2013 The U.S. Department of Housing and Urban Development (HUD)/Federal Housing Administration (FHA) Sec. 232 program, better known as HUD LEAN, recently adopted significant changes to its loan closing process. In a previous article, we examined the new borrower and operator agreements as well as loan monitoring changes. Now let’s take a closer look at new accounts receivable (AR) financing documents. Read More

Community Hospital Project Poker: How to Play a Winning Hand

10/4/2011 Let’s face it, community hospitals. When playing the financing game, the cards aren’t exactly stacked in your favor. Read More

The Capital Issue: December 2014-January 2015

Senior Living
The Fiduciary Focus