'Found' funds earn a rebuke

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'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. 


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