Rule would make it easier to ID nursing home ownership in NJ

By: Scott Fallon
NorthJersey.com
USA Today Network - New Jersey

..... New Jersey families who are looking to place a loved one in a nursing home may soon have more information on who runs the facility.
..... A new federal rule would make it easier for consumers to know all the ownership interests in a nursing home as more private equity companies get into the long-term care business and more for profit facilities emerge.
..... The proposed rule announced Monday [02/13/2023] comes after a Government Accountability Office report showed that consumers don't have enough information on who runs a nursing home.
..... New Jersey has almost 700 nursing homes, assisted living facilities and other long-term care centers that have 51,000 beds, ranking it eighth among all states.
..... The GAO report said that for-profit nursing homes have had lower scores on quality ratings and other metrics. In 2015, the GAO said that the poorest-performing nursing homes were more likely to be for-profit.
..... Among the supporters of the new rule Representative Bill Pascrell Jr., D-Paterson, who said in a statement Tuesday [02/14/2023] that it would bring "needed sunlight to what is happening in the senior care industry."
..... Executives at the American Health Care Association and National Center for Assisted Living, which represents more than 14,000 nursing homes and assisted living communities, said less than 5% of nursing homes are owned by privative equity.
..... "This has become a distraction from the real issue that impact the majority of providers, like Medicaid underfunding and workforce shortages," said Mark Parkinson, president of the group

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