San Clemente, California – CareTrust REIT, Inc. (NASDAQ:CTRE) and PointRight® announced a strategic partnership to provide post-acute analytics to CareTrust’s skilled nursing facility (”SNF”) portfolio. The partnership reflects CareTrust’s continuing commitment to building lasting relationships with operators who are committed to the highest standards of quality care.
“As former operators ourselves, CareTrust places tremendous value on clinical data, and understands how it can be used to drive both quality outcomes and financial performance,” said Greg Stapley, CareTrust’s Chairman and Chief Executive Officer. He noted that CareTrust’s provision of PointRight solutions to its smaller SNF tenants was a natural outgrowth of CareTrust’s unique, operator-focused approach to asset management. “PointRight’s clinical and business intelligence solutions will give our operators an invaluable tool for consistently delivering the best-in-class care essential for long-term success,” he said.
Known as a market leader for post-acute analytics, PointRight will offer three solutions to the CareTrust’s SNF operators, including Data Integrity Audit (DIA) to ensure Minimum Data Set (MDS) submission accuracy, PointRight® Pro 30™ Rehospitalization to understand rehospitalization performance, and Five-Star FastTrack™ for CMS Five-Star Quality Rating scenario planning. Equipped with this data, CareTrust’s SNF operators will have enhanced insight to deliver a high standard of care with improved outcomes that also meets the evolving needs of patients.
CareTrust management will receive PointRight analytics on an aggregated basis across the portfolio for a true understanding of asset performance. Managers will receive an Asset Management Dashboard monthly and a REIT Landscape Report quarterly. These insights will show portfolio performance trends, highlight best practices and identify opportunities for improvement. The facility level insights compliment content within CareTrust’s data-rich Asset Management platform.
“For us as a SNF landlord, PointRight adds value by providing expanded visibility into peer-to-peer performance and other market analysis and insights during our due diligence process, as we evaluate potential new operating partners and portfolios”, said David Sedgwick, CareTrust’s Chief Operating Officer. He added that CareTrust will also be able to use the PointRight data on an ongoing basis to monitor key aspects of tenant operating performance over time.
“CareTrust has an outstanding reputation as a healthcare REIT and is widely known for their operator mind-set” said Steven Scott, CEO of PointRight. “Using our solutions, CareTrust’s operators will have up-to-date, normalized and trusted clinical analytics to strengthen their market position and CareTrust will have a better way to understand their operators and what they can do to manage and improve outcomes in their facilities.”
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