Analyses were performed from March 25 to June 23, 2021.Įxposure Private equity acquisitions of 302 nursing homes between 20. Changes in outcomes for residents in private equity–acquired nursing homes were compared with changes for residents in other for-profit nursing homes. Objective To examine the association of private equity acquisition of nursing homes with the quality and cost of care for long-stay residents.ĭesign, Setting, and Participants In this cohort study of 302 private equity nursing homes with 9632 residents and 9562 other for-profit homes with 249 771 residents, a novel national database of private equity nursing home acquisitions was merged with Medicare claims and Minimum Data Set assessments for the period from 2012 to 2018. Importance Private equity firms have been acquiring US nursing homes an estimated 5% of US nursing homes are owned by private equity firms. This leaves the buyer with potential liabilities as well as the need to correct the shortfalls in quality that are baked into the organization that is, if the buyer is motivated to recover from PE ownership and a for-profit history, to improve the facility. And, when the PE company sells the nursing homes after several years, it is selling facilities that have been diminished by the drive to maximize revenue the buyer is starting with a facility where reduced quality has become the norm over the previous years. Driving the point home is the recognition that nonprofit nursing homes, overall, provide better care than do even non-PE, for-profit homes. In the study, it was recognized that there was reduction in quality of the PE owned homes to the point that the care was of lower quality than that of the non-PE-owned, for-profit homes. Nursing home management and finances are so complex that there are too many places for revenue to be quietly increased, with incremental advancement over time. Private equity investment in nursing homes? Foxes guarding the chicken coop? Neither scenario bodes well for the people who have the most to lose in these situations, the residents. Shared Decision Making and Communication.Scientific Discovery and the Future of Medicine.Health Care Economics, Insurance, Payment.Clinical Implications of Basic Neuroscience.Challenges in Clinical Electrocardiography.
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