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March 12, 2024
In this Issue:
- Materials Available from Q&A Session on Financial Transparency in Nursing Homes Project
- Webinar Next Week: Strong Nursing Home Staffing Standards Now
- Webinar on Hidden Profits in Nursing Homes
- Consumer Voice Seeking Summer Interns
- Resource Highlight: Reference Guide on Related Party Transactions
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Materials Available from Q&A Session on Financial Transparency in Nursing Homes Project
Consumer Voice has received a two-year grant from Arnold Ventures to provide direct support, technical assistance, and training to two states interested in advocating at the state level for increased transparency and accountability in nursing home finances and ownership. Consumer Voice will work closely with selected state advocates to help them develop and implement state-level advocacy strategies to achieve increased transparency and accountability in nursing home finances and ownership.
During this Q&A session, Sam Brooks, Director of Public Policy, spoke about the project activities and attendees were able to ask questions before they apply to join.
Applications for this project are due this Friday, March 15th. Find materials from the webinar and information on how to apply.
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Webinar Next Week: Strong Nursing Home Staffing Standards Now!
Nursing home workers, residents, and families celebrated when the Biden Administration announced a proposed rule to set federal minimum staffing standards for nursing homes across the country. This historic first step to bring necessary change in our long-term care system was championed by those who have long pushed for reform to improve jobs and improve care to an industry in crisis. Yet despite the demand, the nursing home industry continues to make excuses. They, along with GOP Members of Congress, are looking for ways to try to stop this life-saving reform.
Join nursing home workers, residents, and family members for a webinar on Thursday, March 21st at 2pm ET as we continue our demand for minimum federal staffing standards. Importantly, this webinar will focus on how safe staffing is possible. National expert on nursing home finances, Ernest Tosh, will join the webinar to break down the financials and rebut the narrative that the industry does not have enough money.
Register Now
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Webinar on Hidden Profits in Nursing Homes
Consumer Voice has long been a proponent of increased transparency and accountability in nursing home finances. Data and research show that roughly 75% of nursing homes use related party transactions. These common transactions permit some nursing home owners to hide how profitable their facilities really are.
On March 4, 2024, a new paper, “Tunneling and Hidden Profits in Health Care” was published by Dr. Ashvin Gandhi and Dr. Andrew Olenski. Their paper looked specifically at related party transactions in nursing homes and “tunneling.” Tunneling is the process by which nursing home providers “covertly extract profit by making inflated payments for goods and service to commonly owned related parties.” This paper, a first of its kind, found that in 2019, 63% of nursing home profits were “hidden” in related party transactions. In other words, the reported profits by the industry are roughly 1/3 of what they truly are.
On April 10, please join Consumer Voice when we welcome the authors of this groundbreaking study to our webinar “Hidden Profits in the Nursing Home Industry.” We will discuss with the study authors their methodology, findings, and what steps they recommend be taken to address the lack of transparency and accountability that allows nursing homes to continuously claim poverty as to why they are unable to provide high-quality care.
Join the webinar April 10, 2024 at 2 pm ET to hear Dr. Gandhi and Dr. Olenski discuss their paper, needed reforms, and answer your questions.
Register
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Consumer Voice Seeking Summer Interns
Consumer Voice is seeking public policy interns for the Summer 2024 semester. This is a dynamic and exciting internship opportunity where students will get hands on policy and advocacy experience. The internship is open to Graduate or Law students. Applications are due March 22nd.
Apply now or share the posting with others.
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Resource Highlight: Reference Guide on Related Party Transactions
 Consumer Voice has published a reference guide, Related Party Transactions and CMS's Role in Regulation. Each year, nursing homes funnel Medicare and Medicaid dollars meant for nursing home resident care through companies they own with little to no scrutiny on how this money is used. This reference guide provides an overview on how the practice of related party transactions allows nursing home owners to mask profits. It also provides recommendations to CMS for regulation.
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