REIT Ownership “There is concern that REIT ownership of healthcare facilities may divert capital away from investments in clinical care delivery toward generating high returns for investors instead.” –researcher Joseph Dov Bruch, Ph.D. REITs owned more than $3.5 trillion in U.S. assets last year, including the health sector. Harvard Medical School’s Department of Health Care
“This letter serves to submit my resignation to the Missouri House of Representatives.” –Rep. Tricia Derges, R-Nixa. Branson News reported the guilty verdict and subsequent resignation of a Republican state legislator. Derges quit after a jury found her guilty in a medical fraud scheme including mail fraud and false statements to federal agents. Derges is
Transparency = Accountability Everyone agrees of the significance of safe staffing levels on quality of care, and the prevention of abuse and neglect. However, the financial practices of for-profit NHs result in the failure to fund adequate and appropriate staffing. For-profit ownership is strongly associated with failing to meet safe staffing minimums. Insufficient staffing leads
“Related party transaction” refers to a financial practice that diverts funds in for-profit nursing home chains. A recent article discussed the improper diversion of taxpayer funds to shell companies owned by the operator of the nursing home. These entities are known as “related parties or entities”. These related entities have common ownership or control. The profitable
Emergency Preparedness Lawmakers have since passed legislation mandating nursing homes to have powered generators. A new bill requires Louisiana nursing homes’ emergency preparedness plans to be approved by the state’s Department of Health each year. Providers must review and update its emergency preparedness plan and submit the full plan to the Louisiana Department of Health by
Revenue and Spending There has been a lot of noise, confusion, and disinformation from the industry about revenue and Medicare “cuts”. Skilled nursing experienced an increase in Medicare spending while spending overall for 32 million Medicare beneficiaries declined in 2020. Skilled nursing facilities manipulate and exploit PDPM reimbursement to maximize profits. Kaiser Family Foundation confirmed
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