Skilled Nursing News November 10, 2021
Five states are making efforts to improve financial transparency among skilled nursing facilities, in some cases requiring financial records to be accessible to the public and in other cases dictating where revenue can go, to ensure funds are going to residents first.
For some compliance experts, the timing is right to shine a light on financial expenses and “opaque forms of ownership,” according to Brian McGovern, health care lawyer and partner at Crowell & Moring in New York, while the industry is top-of-mind due to the pandemic.
Legislators and governors need to demonstrate now that they are acting on behalf of residents and their families, McGovern said, a trend that might make new ownership through private equity more difficult.
“There’s...
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