The Centers for Medicare & Medicaid Services (CMS) issued final rules on disclosure of ownership of nursing facilities participating in the Medicare and Medicaid programs, as required by §6101(a) of the Affordable Care Act, 88 Fed. Reg. 80141 (Nov. 17, 2023), and addressed in 2022 by President Biden’s nursing home reform agenda. Facilities are required to provide ownership information when they initially enroll in Medicare, when there is a change of either ownership or the submitted information, and at revalidation (every five years). The preamble recites in detail multiple studies documenting the poorer quality of care provided by facilities owned by private equity and other types of private owners, such as real estate investment trusts. CMS expects that more transparent ownership information will enable CMS to “better monitor and hold accountable” nursing facilities and help consumers select facilities. The regulations are effective January 16, 2024; CMS intends to make the information publicly available within one year. CMS also intends to provide additional details on disclosure requirements in sub-regulatory guidance.
November 30, 2023 – T. Edelman