South Carolina Skilled Nursing - Market Intelligence

3G Healthcare Real Estate is a sell-side advisory firm working only in skilled nursing facility real estate. This report is the South Carolina ownership and operating picture as we track it, drawn from CMS Provider Information, federal ownership filings, county property records, published Medicaid rate files, and our own resolution work.

Every figure below describes the market in aggregate; nothing here is specific to any single owner or property.

Six of every ten patient days South Carolina's skilled nursing facilities billed in FY2024 to FY2025 were Medicaid days: 64.1% of the 5,671,485 patient days on the 169 reports that break days out by payer. The median building ran 90.4% occupancy, with the middle half between 84.1% and 93.8%, on 171 reports that carry it. Patient revenue ran $321 a patient day at the median against $328 of reported operating expense, the cost report's own operating line rather than every cost a building carries. Net margin on the filings themselves was 2.5% at the median. 65 of the 171 reports that carry a bottom line filed a loss, which is 38.0% of them.

South Carolina carries a median Medicaid daily rate of $252 across 155 rated facilities, 83 percent of the buildings we track in the state, with the middle half of the market between $231 and $272 a day. The distribution is tight, which usually means a cost-capped methodology holding most buildings in a band. Non-profit buildings run $24 a day above for-profit ones ($275 against $251 at the median), a gap that reflects the class each sits in rather than the quality of the building. Rates are effective October 2025.

South Carolina skilled nursing is 79 percent for-profit by facility count: 147 of 187 buildings, averaging 2.84 stars overall and 2.78 on staffing. The balance is 25 non-profit, 15 government. Non-Profit buildings rate highest at 3.72 stars and for-profit lowest at 2.84. The 15 government-owned buildings are a structural feature worth reading carefully: in most states these are county or hospital-district arrangements in which a public body holds the license while the real estate sits with a private party. Ownership type as CMS records it describes the license holder. The real estate behind it is frequently a different party, and that is the layer we resolve.

South Carolina averages 3.02 stars overall across 187 facilities and 19,589 licensed beds. Average occupancy runs 87 percent, which is the number that decides whether a building services its debt. Quality splits at the bottom: 72 facilities (38 percent) rate one or two stars overall, 39 of them one star. Special Focus status or candidacy covers 6 of them. CMS fines on the current record total $2.8M across 99 facilities. Total nurse turnover averages 45.9 percent. Counting any facility that carries at least one of a one- or two-star overall rating, Special Focus status or candidacy, CMS fines on the current record, or a distressed-title flag from county records, 116 of 187 buildings show a distress signal, 62 percent of the total.

The eight largest operating groups run 106 of South Carolina's 187 skilled nursing facilities, 57 percent of the state and 63 percent of its licensed beds. The remaining 81 buildings are spread across a long tail of smaller operators and independents.

Operating scale is not the same as real-estate ownership, and in most markets the two are separate. The property behind these portfolios is held across a far larger and more fragmented set of owners, many of them holding a single building outright. That is the layer we resolve, and it is why a market that looks consolidated from the operating side is usually anything but from the ownership side.

South Carolina's 51 reporting hospitals discharged at least 36,533 traditional-Medicare inpatients in the diagnosis groups that most often need skilled care afterward, in federal fiscal 2024. Sepsis leads at 11,626 discharges. Every one of these patients needed a next setting, and the facilities positioned closest to the highest-volume hospitals see that demand first.

156 of South Carolina's 182 graded skilled nursing facilities (86%) are taking a live Medicare payment cut this federal fiscal year under CMS's SNF Value-Based Purchasing program, which blends readmissions, infections, staffing and turnover into one multiplier and applies it to every Medicare day a building bills. The graded set averages a 1.1% cut across the whole state. A federal number like that says little read alone, which is why we check it against the fuller financial and operational record we hold on every building before it reaches a report: the buildings already under pressure elsewhere are the ones a payment cut actually threatens.

Medicare Advantage now covers 46.7% of South Carolina's Medicare population, as of April 2026. That is up 3.5 points in three years. Union County runs highest in the state at 60.7%. An MA member typically draws fewer skilled-nursing days per admission than traditional Medicare, so the counties at the top of that list are the ones structurally losing SNF days first, whatever the raw discharge count says.

Beds concentrate where the population does: Greenville County with 19 facilities and 1,877 beds, Spartanburg County with 15 facilities and 1,278 beds, Richland County with 14 facilities and 1,859 beds.

1. CMS Provider Information / Care Compare: facility counts, licensed beds, occupancy, Five-Star ratings, staffing, nurse turnover, fines and Special Focus status, processed 2026-09-01.
2. CMS Payroll-Based Journal: nurse staffing hours and turnover.
3. Federal ownership filings: PECOS Form 855A indirect-owner tree and HCRIS cost-report related parties.
4. County property and mortgage records via the 3G real-estate-ownership resolution layer.
5. 3G Healthcare Real Estate proprietary warehouse, resolved as of the date shown above.
6. South Carolina published Medicaid nursing-facility rate files: 155 rated facilities, effective October 2025.
7. State and federal legislative and regulatory tracking via the 3G intelligence scan, with the source for each item linked in that section.
8. CMS Medicare inpatient claims (fiscal 2024): hospital discharge volumes by diagnosis group, traditional Medicare only; CMS withholds lines under 11 discharges, so volumes are minimums. Readmission rates from CMS Care Compare's three-year measure window.
9. CMS SNF Value-Based Purchasing facility-level file, FY2026 determination (published February 2026): readmission, infection, staffing and turnover measures rolled into one Medicare payment multiplier per facility.
10. CMS Medicare Monthly Enrollment: Medicare Advantage penetration by county, April 2026.
11. Medicare cost reports (CMS HCRIS), FY2024 to FY2025: 173 filings from 173 South Carolina skilled nursing facilities, one full-year report each, loaded 2026-10-06. Occupancy, patient days by payer, patient revenue, operating expense and net income as each facility filed them.