Ownership Disclosures

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 a facility and confidence that a public and thorough review process will be completed,” Evelyn Liebman, director of advocacy for AARP New Jersey, said.

Applications will now require disclosure of the following :

• Identification of the current owners of the nursing home.
• Identification “of 100% of the proposed new owners, including the names and addresses of all principals and interested parties”
• An organizational chart with parent corporations and wholly owned subsidiaries, if applicable

Advocates expressed support but the law but the devil is in the details and the enforcement. We shall see if disclosures are accurate and reliable.