About Per Patient Day
Per Patient Day publishes skilled nursing operating benchmarks built from the Medicare cost reports facilities file with CMS, and a calculator for the valuation and debt math that follows from them. It is written for operators, owners and their advisors.
Per Patient Day is independent. It is not affiliated with, endorsed by or acting for HUD, FHA, CMS or any government agency.
It is operated by Janover Capital LLC, a commercial mortgage capital markets advisory firm at 6401 Congress Ave., Ste. 250, Boca Raton, FL 33487, (561) 559-4111. Financing inquiries sent from the site go to Janover Capital at hello@fhaskillednursing.loan, and a person there replies. Janover Capital arranges commercial-purpose financing; it is not a bank or a direct lender.
How the numbers are made
A script downloads CMS’s newest skilled nursing cost report file, keeps full-year reports with usable patient days and revenue, and computes the 25th percentile, median and 75th percentile of each measure by state, ownership and size. The methodology page lists the fields and the exclusions. Every page shows the fiscal years its reports cover.
What it is not
It is not CMS, HUD or FHA, and it doesn’t speak for them. The calculator is an estimate, not an appraisal, and nothing here is an offer to lend.
The team
Data and editing, Janover Capital LLC
Per Patient Day desk
The Per Patient Day desk builds the state benchmarks from CMS skilled nursing cost reports, checks them against the cost report instructions, and writes the guides from CMS rules and HUD's Section 232 handbook. Corrections go to hello@fhaskillednursing.loan.
Have a question?
Send it to Per Patient Day and we will reply by email.