CMS recently implemented new requirements aimed at increasing transparency and accountability in the nursing home industry. Effective as of October 1, 2024, these changes require nursing homes to disclose extensive ownership and management details through the revised Form CMS-855A. This update addresses longstanding concerns about financial exploitation in the industry, particularly through related-party transactions that allow owners to
The recent $53 million sale of nine Pennsylvania nursing homes previously owned by Comprehensive Healthcare Management Services illustrates a recurring issue in the nursing home industry: financial exploitation. The bankruptcy court approved the sale to Kadima Healthcare Group, under certain stipulations that Lahasky and former owners could not retain any ownership stake. Comprehensive Healthcare, owned
By Raga Justin, Capitol Bureau Oct 15, 2024 Many nursing home operators have long been accused of prioritizing profits over patient care. A new study released this week uses millions of patient records to document a link between fraudulent activity and worsened patient safety, and revealed how widespread the practice is. Millions of residents who have
Congress reintroduced the Stop Wall Street Looting Act in an effort to hold private equity firms accountable for the negative outcomes of the companies they acquire and control, including long-term care communities. Experts and consumer advocates have been highly critical of private equity’s role in the nursing home industry. “Private equity takeovers are legal looting that
No Country for Old People Watch Party Invitation 10-14-24_LINKS
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