Federal regulators aim to shine light on complex nursing-home ownership structures
Private equity firms and real estate investment trusts involved in the long-term care industry are coming under new scrutiny from federal regulators.
The U.S. Department of Health and Human Services on Monday announced a proposed rule requiring nursing homes to disclose new ownership and management details, including ties with any private-equity firms or REITs and the names of individuals or entities providing administrative or clinical consulting services to the facilities.
“For too long, one of the barriers to accountability has been a lack of transparency around who owns and operates nursing homes,” Bharat Ramamurti, deputy director of the White House National Economic Council, said on the call Monday. If finalized, the new rule will help change that, he said. The new ownership and management data collected will also be publicly reported, helping families make more informed choices, he said.
Rule would implement a provision of the Affordable Care Act The new HHS rule proposal would implement a section of the Affordable Care Act, which was signed into law about 13 years ago. Throughout the pandemic, long-term care experts have urged the Centers for Medicare and Medicaid Services, the federal agency that oversees nursing homes, to ensure the law is enforced, including requiring full ownership details.
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