Former National Center for Assisted Living Executive Director Scott Tittle joined emerging healthcare lender VIUM Capital this month as the company looks to grow in year two.
In its first year, the company closed 25 deals – totaling more than $ 750 million – after it opened in April 2020.
“At VIUM, we have worked with qualified nurses and assisted living facilities on an equal basis,” explained Tittle. “When entering into a deal, we reduce revenue from any stimulus received and then add back any one-time COVID-related expenses to calculate adjusted net operating income. ”
Based in Columbus, Ohio, privately held VIUM Capital offers a range of short- and long-term debt financing options, such as Department of Housing and Urban Development loans, tax-exempt bond finance, and debt financing. bridging loans.
The firm was looking to hire someone with experience as an advocate for the profession. Prior to joining NCAL, Tittle was the head of the Indiana Health Care Association.
Going forward, he plans to build on his more than 15 years of experience advising both qualified nursing and assisted living operators as the firm’s senior government relations and external affairs manager. .
“COVID has accelerated the idea that finance is inextricably linked with regulatory policy and long-term care. You have to be more than this direct service provider, ”he said.
In his role, he will advise clients on what is happening in Washington, DC regarding regulatory policy and reimbursement, which will help them educate them on the next steps in their funding decisions.
Tittle said he wanted to help VIUM serve customers holistically.
He plans to advocate for best regulatory practices and financial programs through state Medicaid programs and DC’s Medicare and Medicaid policies, and knows some of the challenges all operators face.
“Over the long term, the numbers are still at historically low levels and with the expenses skilled nursing operators now incur, it is difficult to turn a profit,” Tittle said. “These expenses continue to grow with direct labor, agency staff and personal protective equipment. People need to understand how costly the need for PPE is for long-term care operators. “