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 for Skilled Nursing Facilities and Nursing Facilities
Here is a summary of the proposed rule:
CMS is proposing that nursing facilities would be required to disclose the following information:
- Each member of the governing body of the facility, including the name, title, and period of service of each member.
- Every person or entity who is an officer, director, member, partner, trustee, or managing employee of the facility. Information will include the name, title, and period of service of each such person or entity.
- Each person or entity who is an additional disclosable party of the facility.
- The organizational structure of each additional disclosable party of the facility and a description of the relationship of each such additional disclosable party to the facility and to one another.
The nursing facility would have to report the information upon enrolling in Medicare or Medicaid. The new rule would require a nursing home to disclose any changes to this information. This is a great time for new rules since the 3.4% unemployment rate is a 50-year low.