McKnight's December 18, 2023
New Jersey state lawmakers would place themselves at the front of a push for greater financial transparency of nursing homes with the passage of two bills currently making their way through the Legislature.
The identical measures would require nursing homes and any related business entities operating in New Jersey to file consolidated financial statements to be audited by the state government.
The laws are aimed at curbing a method some industry critics say nursing home owners have used to hide their profits. In related party transactions, nursing home owners may pay well above market rate for rent and management services to third-party companies that are also owned by the same person or group. That makes it hard for state and...
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