'Comprehensive ownership information is essential for effective oversight and for families to decide where to place their loved ones,' said public_citizen research director TaylorLincoln_.
"Otherwise it's impossible to determine if a facility is owned by those who may be guilty of fraud or providing negligent care at other locations."
To test the quality of nursing home ownership data currently published by the federal government, which is based on pre-ACA requirements that HHS strengthened without implementing formal regulations, Public Citizen analyzed reports of facilities owned by a pair of private equity firms as well as others believed to be owned by 13 private equity firms.
Of 13 private equity firms that we believe to have holdings in nursing homes, only seven appear in the federal ownership database. While roughly 70% of the nation's assisted living facilities operate as for-profit businesses,"many of the worst actors are owned by private equity firms that have made an art form out of stripping nursing homes of their resources to supercharge short-term profits," Lincoln"If various nursing homes are essentially owned by the same PE firm but, instead, report being owned by an alphabet soup of LLCs [and] leave out the PE firm at the top of the pyramid," he...
However,"the administration does not appear to have begun work on creating the relevant regulation," the report adds."It should do so."
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