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).
The report provides a detailed look at related parties and how nursing homes use them to siphon funds and hide profits to give the illusion that nursing homes are not profitable. The industry-wide practice of related party transactions cause unsafe staffing, abuse, and neglect.
The constant refrain from the nursing home industry is that they need more money. Yet, the report shows that billions of dollars go unaccounted for each year. They are being siphoned off to the profits of nursing home owners and operators.
CMS must take action now to ensure that taxpayer dollars are spent on care and that the safety and well-being nursing home residents is assured.
Webinar – Thursday, April 6th
Join Consumer Voice for a webinar to hear more about the report in detail.