'Found' funds earn a rebuke

Share this article:
'Found' funds earn a rebuke
'Found' funds earn a rebuke

A former top regulator scolded long-term care lobbyists before a crowd of nearly 2,000 influential investors and providers recently.

“I jumped up and down and begged them. I told them they can't say they ‘found' $5 billion [in extra Medicare reimbursement payments under a new system],” said Thomas Scully, former administrator for the Center for Medicare & Medicaid Services. “You can't imagine how bad a mistake that was.”

A keynote speaker at the National Investment Center for the Seniors Housing & Care Industry annual meeting, Scully went on to call the episode “a disaster they're going to live with for a while … You are toast as far as credibility for a while.”

Industry officials disagreed but declined comment. 


Share this article:

More in News

Long-term care continues to lead in deal volume and value: PwC report

Long-term care continues to lead in deal volume ...

Long-term care bucked healthcare industry trends with strong merger and acquisition activity in the second quarter of 2014, according to newly released data from professional services firm PricewaterhouseCoopers.

Empowering nurse practitioners could reduce hospitalizations from SNFs, study finds

Granting more authority to nurse practitioners is associated with reduced hospitalization of skilled nursing facility residents, according to recently published findings.

Pioneer ACO drops out of program, despite reductions in skilled nursing utilization

A California healthcare system has become the latest dropout from the Pioneer Accountable Care Organization program, despite reducing skilled nursing facility utilization and improving its readmission rates. Sharp HealthCare announced its decision in a quarterly financial statement released Tuesday.