number of should be reported by resident day, the total of which should be equal to the operating beds x 365 x occupancy percentage. Assisted living may be reported by occupied number of operating units x 12 x occupancy unit, the total of which should equal the percentage. Do not enter potential gross incomes here, but rather effective gross income, wherein vacancy has already been accounted for.>> <<Discuss any departures from historical reimbursements, mix, and trends here.>> <<Instructions: Each type of care should have its own subsection below discussing the Payor source identified in the rent schedule, as demonstrated below. You may delete the sections (Skilled Nursing, Assisted Living, and Independent Living) that do not apply to your subject. >> Skilled Nursing Private Pay In addition to an analysis of the rent roll, the appraiser and underwriter analyzed the subject’s private pay rates at X comparable facilities. A summary of their analysis is provided below. Private Pay Rates Comparability Analysis (Double click inside the Excel Tables to add information) <<Provide narrative discussion of private pay rate conclusion. Discuss how the rate conclusion compares to the achieved rents shown on the rent roll. Expand or shorten the table above as needed to accommodate the types of rooms or the number of comparables used. Additional analysis can be provided at the Lender’s option to support its conclusions, as appropriate. Identify any modification from the concluded rent and provide justification. >> appraiser’s Medicare Daily rate Underwriting: $ Appraisal: $ – historical average Time period of Subject’s RUG Rate: $ quoted average: <<Identify any anticipated changes to the reimbursement rate. Provide narrative discussion of conclusion. For example: appraiser provided a detailed Resource Utilization Group “The (RUG) rate analysis of the operation over the last 12-month operating period. The facility’s analysis concluded a weighted average Medicare rate of $XX PRD. The RUG Rates used to determine the average rate are based on the <<DATE>> rates. The underwriter concurs with the appraiser’s conclusion.”>> Medicaid Daily Rate Underwriting: $ Appraisal: $ – Published Rate: $ Date of Rate <<Provide narrative discussion of the reimbursement system and how the or state’s subject’s rate is determined. If rate is facility specific, discuss evidence of current or prospective tenant’s
should be reported by resident day, the total of which should be equal to the number of operating beds x 365 x occupancy percentage. Assisted living may be reported by occupied unit, the total of which should equal the number of operating units x 12 x occupancy percentage. Do not enter potential gross incomes here, but rather effective gross income, wherein vacancy has already been accounted for.>> <<Discuss any departures from historical reimbursements, mix, and trends here.>> <<Instructions: Each type of care should have its own subsection below discussing the Payor source identified in the rent schedule, as demonstrated below. You may delete the sections (Skilled Nursing, Assisted Living, and Independent Living) that do not apply to your subject. >> Skilled Nursing Private Pay In addition to an analysis of the subject’s rent roll, the appraiser and underwriter analyzed the private pay rates at X comparable facilities. A summary of their analysis is provided below. Private Pay Rates Comparability Analysis (Double click inside the Excel Tables to add information) <<Provide narrative discussion of private pay rate conclusion. Discuss how the rate conclusion compares to the achieved rents shown on the rent roll. Expand or shorten the table above as needed to accommodate the types of rooms or the number of comparables used. Additional analysis can be provided at the Lender’s option to support its conclusions, as appropriate. Identify any modification from the appraiser’s concluded rent and provide justification. >> Medicare Daily rate – Underwriting: $ Appraisal: $ Subject’s historical average RUG Rate: $ Time period of quoted average: <<Identify any anticipated changes to the reimbursement rate. Provide narrative discussion of conclusion. For example: “The appraiser provided a detailed Resource Utilization Group (RUG) rate analysis of the facility’s operation over the last 12-month operating period. The analysis concluded a weighted average Medicare rate of $XX PRD. The RUG Rates used to determine the average rate are based on the <<DATE>> rates. The underwriter concurs with the appraiser’s conclusion.”>> Medicaid Daily Rate – Underwriting: $ Appraisal: $ Published Rate: $ Date of Rate <<Provide narrative discussion of the state’s reimbursement system and how the subject’s or tenant’s rate is determined. If rate is facility specific, discuss evidence of current or prospective
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