National Health Investors is a real estate investment trust that acquires and owns healthcare properties including senior housing, skilled nursing facilities, hospitals, and continuing care retirement communities across the United States. The company generates revenue through triple-net leases to independent healthcare operators, mortgage and notes receivable from borrowers, and direct operations of facilities in its SHOP segment where it holds licenses and maintains operational control. NHI's earnings are substantially dependent on government reimbursement programs, particularly Medicare and Medicaid, which fund a significant portion of operator revenues across its portfolio.