Private Equity Ownership of Nursing Homes Triggers Capitol Hill Questions — And a GAO Probe

(By Victoria Knight for Kaiser Health News)

In his State of the Union address last month, President Joe Biden focused attention on how private equity ownership of nursing homes can affect residents’ health.

“As Wall Street firms take over more nursing homes, quality in those homes has gone down and costs have gone up. That ends on my watch,” Biden said.

Those comments dovetail with growing interest from Congress.

The Government Accountability Office, for instance, is investigating the ownership of nursing homes, including by private equity firms, and expects to issue a report in the fall, said Chuck Young, the GAO’s managing director of public affairs. “The full scope of what we will cover has not been set yet, however the work will likely be focused on the information [the Centers for Medicare & Medicaid Services] has about nursing home ownership and how the agency uses that information,” Young wrote in an email. Continue reading here…

Kaiser Health News is a nonprofit national health policy news service that is part of the nonpartisan Henry J. Kaiser Family Foundation

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