The corporate entities that own nursing homes are often clouded in secrecy. Often times, several corporations or holding companies can be involved with the ownership and management of nursing homes. While it can be difficult to determine what the exact relationship is between nursing homes and the corporate entities that run them, some information can be accessed using the public website provided by the Office of Statewide Planning & Development.
By navigating the website and clicking on Annual Financial Data, and typing in the name of the long-term care facility, consumers can gain access to reports that are submitted by the facilities. These reports contain information regarding the profits of the facilities, staffing ratios, and where money is sent. Many times the money is sent to some of the corporations that are associated with the nursing home, and this information is submitted in the reports. This can be an easy way for consumers to look into the ownership and financial background of a nursing home.
As part of these reports, the nursing homes should identify individuals with more than 5% ownership interest and also identify where the money they receive is sent. This information cannot always be relied upon as it is submitted from the nursing homes, but can be helpful in getting a general idea as to what other corporate entities are involved in a particular nursing home.