Specialized Information for:
Nursing HomesAssisted Living/Board & Care Home and Community Based ServicesDecember 18, 2023
New Jersey state lawmakers push for greater financial transparency of nursing homes with the passage of two bills currently making their way through the Legislature. These bills would require nursing homes and any related business entities to file consolidated financial statements to be audited at their own expense. The laws aim to stop nursing home owners from hiding their profits. New Jersey State Long-Term Care Ombudsman, Laurie Facciarossa-Brewer, said “advocates and regulators need consolidated financial statements to properly evaluate nursing home operations and foster quality care and better conditions for the residents. The current disclosure requirements make it too easy for nursing homes to hide profits and resist calls to improve conditions. We see this clearly when it comes to staffing rules.”