Statement attributable to:
Ryan D. Mire, MD, MACP
President, ACP
WASHINGTON February 14, 2023 – The American College of Physicians (ACP) is glad to see new efforts from the Biden Administration that seek to improve transparency into the ownership of nursing homes. A proposed rule, released by the Centers for Medicare and Medicaid Services (CMS) yesterday, would require Medicare skilled nursing facilities and Medicaid nursing facilities to report ownership and management data to CMS.
In a paper that ACP published last year about the need to improve Long Term Services and Supports for Older Adults, we called for increasing support in the long-term care industry, including the disclosure of comprehensive ownership and cost information, as well as private equity investment data and related-party payments. Evidence shows that private equity ownership of these facilities increases short-term mortality for Medicare enrollees, increases operating costs, and lowers per patient nurse availability. It’s important that we understand why this occurs and collecting this data is a crucial first step. Our nation’s long-term services and supports system is underfunded, understaffed, fragmented, and too often neglected by policymakers. Our country’s population over age 65 is projected to increase by over 15 million between 2020 and 2030, and these individuals will need a system of long-term services and supports they can rely on. We need to make improvements to the system so that it can meet the challenges it faces today and provide older adults with the additional services and support that will be needed in the future.
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About the American College of Physicians
The American College of Physicians is the largest medical specialty organization in the United States with members in more than 145 countries worldwide. ACP membership includes 160,000 internal medicine physicians, related subspecialists, and medical students. Internal medicine physicians are specialists who apply scientific knowledge and clinical expertise to the diagnosis, treatment, and compassionate care of adults across the spectrum from health to complex illness. Follow ACP on Twitter, Facebook, and Instagram.
Contact: Jacquelyn Blaser, (202) 261-4572, jblaser@acponline.org