Greed The U.S. Department of Justice sent a press release on a recent Connecticut embezzlement case. Chaim Stern received 30 months of imprisonment, followed by three years of supervised release, for embezzlement and tax offenses related to his operation of nursing homes. Stern was the owner and operator of the Bridgeport Health Care Center (“BHCC”),
Transparency Market Watch had an interesting discussion with Professor Nina Kohn at the Syracuse University College of Law. A report by the Roosevelt Institute argue that private-equity firms siphon funds to the detriment of patient care. The researchers found that private-equity ownership of nursing homes increased the short-term mortality of Medicare patients by 10%. At
Single-occupancy rooms are necessary for resident safety and to prevent infectious diseases from spreading in nursing homes. It is not a luxury or just a privacy concern. It should be the cost of doing business. Plante Moran observed in a new report that the need will accelerate in the future. “Moving forward, private rooms will
New Jersey Senate and Assembly unanimously passed a bill last month to improve transparency in nursing home ownership and management. Who really controls the facility? NJ Spotlight News reported the bipartisan law that requires additional information for licensure. “Residents, families, staff and the public have a right to know who is applying for ownership of
McKnight’s reported in an opinion piece that appeared in medical news outlet STAT. Dr. Haider Warraich, M.D. admitted what everyone in the industry knows: “Private equity investment fundamentally changes nursing homes.” Dr. Warraich asserts that for-profit nursing homes place residents at higher risk of death and are a poor deal for elders overall. The lack of
Skilled Nursing News reported New York’s new law limiting nursing home profits. However, large chains manipulate financial documents to look unprofitable so this law will have little effect. The new rules attempt to exclude expenses to any related party transaction or compensation that exceeds fair market value. “Facilities have put profits over care for far
Recent Comments