The Biden Administration, which in November notified nursing home operators it is planning to impose a new standard for care at skilled nursing facilities, now is planning to require more transparency about who owns or provides services at these facilities.
The proposal, unveiled on Monday, would require nursing homes that receive Medicare and/or Medicaid reimbursement to disclose investments by private-equity companies or REITs in nursing homes, and to provide information—which will be made public—about individuals or organizations that are providing care and services, according to a report in the Wall Street Journal.
President Biden has criticized private-equity ownership of nursing homes, suggesting that equity funds and REITs—he calls them "Wall Street"—are driving down quality and raising costs.
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