Raised Bill No. 318, introduced in the General Assembly, is focused on the study of private equity ownership of nursing homes. The bill mandates the Commissioner of Social Services to conduct a study on the ownership of nursing homes by private equity companies, as defined in 42 CFR 424.502, and to examine any correlation between such ownership and negative ratings on the Medicare online tool, which provides quality of care indicators and tracks consumer complaints.

The bill requires the Commissioner to submit a report by December 1, 2024, to the joint standing committees of the General Assembly with jurisdiction over aging, human services, and public health. This report must include the number of nursing homes owned or partially owned by private equity companies, the extent of ownership stakes, and the most recent star ratings of these homes on the Medicare five-star rating system. Additionally, the Commissioner is instructed to provide a prominent link to the report on the Department of Social Services' website. The purpose of this act is to investigate the impact of private equity firm ownership on the quality of care in nursing homes. The bill contains insertions indicating new legal language but does not include any deletions from current law.