Consumer Voice released an incredible new report, “Where Do the Billions of Dollars Go? A Look At Nursing Home Related Party Transactions.” The report documents how each year nursing homes funnel billions of dollars through related party companies (companies they own) with little to no oversight by the Centers for Medicare & Medicaid Services (CMS).
“CMS’ thirteen-year delay is slow even by bureaucratic standards and especially egregious given that the number of nursing homes owned by private equity has significantly increased since then” -US Sen. Charles Grassley wrote (R-IA). Recently Grassley sent a letter asking CMS to finalize CMS’ “overdue proposed rule that…failed to finalize and implement.” New rules will
The Center for Medicare & Medicaid Services (CMS) has proposed a new rule that will require the disclosure of certain ownership, managerial, and other information regarding Medicare skilled facilities (SNFs) and Medicaid nursing facilities. See the link to the federal register for more details: Medicare and Medicaid Programs; Disclosures of Ownership and Additional Disclosable Parties Information
In a proposed rule, the Centers for Medicare & Medicaid Services will use a tool included in the Affordable Care Act to require more information on nursing home owners, managers and real estate and other partners. The rule cites a 2021 analysis from the Journal of the American Medical Association that found private equity companies seek annual returns of
McKnight’s recently reported that a grand jury indicted the owner/operator of Atrium Health and Senior Living for healthcare fraud, tax fraud and money laundering offenses. The Department of Justice announced CEO Kevin Breslin and KBWB Operations, doing business as Atrium. committed the alleged crimes from January 2015 through September 2018 at 24 skilled nursing and