CareTrust and PointRight Announce Strategic Partnership to Provide Post-Acute Analytics for Asset Management and Merger & Acquisition Analysis
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.”
About CareTrust REIT
CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 199 net-leased healthcare properties and three operated seniors housing properties in 27 states, CareTrust REIT is acquiring properties nationwide and leasing them to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses. More information about CareTrust REIT is available at www.caretrustreit.com.
CareTrust REIT, Inc.
PointRight provides analytics that show a 360⁰ view of long-term and post-acute (LTPAC) facility performance and clinical outcomes. Equipped with these insights, LTPAC Provider and Payers can lower rehospitalization rates, improve clinical outcomes, and build and manage high-performing networks. Today PointRight delivers quantifiable value to more than 2,400 skilled nursing facilities, hospital systems, ACOs and REITs across the US. Our deep clinical experience, combined with a 20+ year history advocating for the use of data to improve post-acute care quality, sets us apart in a market that recognizes the need for credible LTPAC insights. To learn more, visit www.pointright.com.