New York Gov. Andrew Cuomo said during a Feb. 15 news conference he endorsed limiting how much nursing homes can profit from residential care.
He said the state should mandate how much for-profit nursing homes invest in improving their facilities and care, as well as how much they profit.
Mr. Cuomo's remarks come after January's New York attorney general’s office report showed that the state's current reimbursement model gives for-profit nursing homes owners a financial incentive to transfer funds to related parties instead of investing in better care for residents.
"Do you want to hire more staff, or do you want to make more profit? Do you want to buy more PPE and stockpile more PPE, or do you want to make more profit? Do you want to buy new equipment, new beds, new sheets, new furniture, invest in the facility, or do you want to make more profit?" Mr. Cuomo said. "That tension is a problem, and that has to be resolved legislatively."
He said a proposal to cap nursing home profits will be included in the 30-day amendments to New York's 2021 executive budget proposal, which will be considered by lawmakers in April.