The more than 400 nursing homes and hospitals currently owned and operated by private equity firms would be denied Medicare funding under a bill proposed Monday in both the US House and Senate. It is one of the most aggressive anti-PE moves yet by lawmakers, some of whom have become increasingly bold in attempting to rein in what they call typically negligent ownership groups. “After private equity takeovers, hospitals and nursing homes routinely slash services, staffing, and supplies and upcharge patients while degrading the quality of care. … Elderly patients living in nursing homes owned by private equity face a 11% higher mortality rate,” sponsors Sen. Chris Murphy (D-CT) and Rep. Mary Gay Scanlon (D-PA) said in a joint statement.
Read the full article: Medicare Banned for Private Equity-Owned Nursing Homes Under New Bill //
Source: https://www.mcknights.com/news/medicare-banned-for-private-equity-owned-nursing-homes-under-new-bill/