The Centers for Medicare and Medicaid Services (CMS) today issued a final rule requiring the disclosure of certain nursing home ownership, managerial, and other information, for purposes of transparency. The final rule also defines the terms private equity company and real estate investment trust, about which information must be disclosed on Form CMS-855A, the Medicare enrollment application. This final rule is part of the Biden-Harris Administration’s February 28, 2022 initiative entitled Protecting Seniors by Improving Safety and Quality of Care in the Nation’s Nursing Homes.
The final rule requires nursing homes enrolled in Medicare or Medicaid to disclose additional information regarding their owners, operators, and management; for example, nursing homes will disclose individuals or entities that provide administrative services or clinical consulting services to the nursing homes. Nursing homes will also be required to disclose entities that exercise financial control over the facility, such as an organization the nursing home hires to manage all of its financial matters.
CMS will be issuing sub-regulatory guidance to explain the new requirements to stakeholders, including examples of the types of data that must be disclosed.
- For more information, please visit the Federal Register.
- For a fact sheet on the final nursing home ownership disclosure rule, visit:
- For the ASPE report on nursing home ownership and quality trends, visit: https://aspe.hhs.gov/reports/nh-ownership-its-implications-quality-availability-care.