The Centers for Medicare & Medicaid Services (CMS) released on February 13 a proposed rule that would implement an Affordable Care Act provision requiring all nursing homes to disclose to CMS and state agencies additional information on their ownership and management. Medicare skilled nursing facilities and Medicaid nursing facilities would need to disclose the owners, operators, and management information, including administrative services and consulting groups. This proposed requirement provides definitions of private equity and real estate investment trust, outlining an approach in which all direct and indirect owning or managing equity would become public. CMS intends to make the reported information public when the rule is finalized and will use the CMS 855A Medicare enrollment application form for initial enrollment, revalidation, or a change in ownership. The proposed rule is posted in the Federal Register.     

Increasing transparency and accountability of finances, operations, and ownership at nursing homes is a goal called for in the National Academies of Science, Engineering and Medicine (NASEM) report The National Imperative to Improve Nursing Home Quality – Honoring the Commitment to Residents, Families and Staff released on April 6, 2022. Review the LeadingAge article on the NASEM report.