Nursing Home Ownership Transparency on the Rise: Biden-Harris Administration’s Resolve
The Biden-Harris Administration is reinforcing its commitment to empower nursing home residents and their families with the tools needed to make informed decisions about their care while holding nursing homes accountable for the quality of services they provide. To achieve this, the administration is implementing a series of measures aimed at enhancing transparency in nursing home ownership and management, ultimately benefiting the well-being of those residing in these facilities.
One of the key initiatives introduced by the administration involves requiring nursing homes to disclose additional ownership and management information to both the Centers for Medicare & Medicaid Services (CMS) and individual states. This information will subsequently be made accessible to the public, ensuring that individuals and their families have access to critical insights about the facilities they are considering for care.
Recent studies, including research released by the Department of Health and Human Services (HHS) Office of the Assistant Secretary for Planning and Evaluation, have underscored the need for greater scrutiny of nursing home ownership arrangements. These studies have revealed concerning correlations between private equity ownership and subpar staffing conditions, leading to a decline in the quality of care provided. As a result, today’s finalized rule includes precise definitions of private equity and real estate investment trusts, setting the stage for a comprehensive understanding of whether a nursing home falls under these ownership categories.
These strategic actions are part of the broader effort to bolster the safety and quality of care within the nation’s nursing homes. They align with President Biden’s historic Executive Order on Promoting Competition in the American Economy, further demonstrating the administration’s dedication to fostering improvements in this crucial sector.
Earlier this year, CMS and HHS took another significant step by proposing a rule in September to establish national minimum staffing standards for nursing homes. This forward-looking proposal seeks to elevate the quality and safety of care provided in these facilities, enhancing the overall experience for residents and their families.
In the words of HHS Secretary Xavier Becerra, “HHS continues to take action to improve the safety, quality, and accountability of nursing homes.” He further emphasizes the administration’s belief that residents living in nursing homes deserve to receive the utmost dignity, care, and respect. By facilitating access to vital information about nursing home ownership, these measures empower consumers to make choices that align with their individual needs and preferences, ultimately contributing to the enhancement of care standards across the industry. The Biden-Harris Administration remains steadfast in its commitment to achieving these goals, ensuring a brighter future for nursing home residents and their families.
