![]() With detailed ownership information, CMS Deputy Administrator Jonathan Blum said the agency will be able to test industry claims that nursing homes cannot afford the president’s reform proposals, including new staffing mandates expected this spring. Or, a nursing home might appear unprofitable while making large rent payments to a profitable corporate landlord. For instance, a nursing home might appear unprofitable to regulators even though a related business running the in-house pharmacy is profitable. Updated regulatory paperwork will require nursing homes to disclose whether they are linked to private equity firms or real estate investment trusts in addition to naming all businesses operating within the building or providing consulting services. Nursing homes could be required to submit new information about direct and indirect owners as soon as this summer. The federal agency tasked with regulating nursing homes, the Centers for Medicaid and Medicare Services (CMS), has not tracked detailed ownership even though it has had the authority to do so for more than a decade under the Affordable Care Act. ![]() “We agree with the administration that ownership and financing of nursing homes should be transparent to help ensure that owners or associated businesses do not profit at the cost of quality care,” said LeadingAge President Katie Smith Sloan in a statement. “The proposed disclosure and reporting requirements set out in today’s proposed rule are a step in the right direction.”
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