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Bill to require nursing home financial disclosures draws mixed testimony; committee holds measure
Summary
Senate Bill 704 would expand financial transparency requirements for nursing homes to include related‑party transactions and require public disclosure; SEIU and advocates supported the measure, while the Rhode Island Healthcare Association called it duplicative of existing federal and state reporting. The committee held the bill.
Senate Bill 704, introduced by Senator Oyer, would expand Rhode Island’s nursing‑home transparency laws to require disclosure of related‑party entities, financial flows, cost and revenue details, and whether services provided by related parties were billed at fair market value. Supporters said expanded disclosure would reveal whether public funds are being redirected away from resident care.
Alex Moore of SEIU 1199 New England said the proposal builds on the 2022 ownership transparency law and model language from the National Consumer Voice. "If Senator Goodwin's law told us who owns the facility, SB 704 tells us who profits from it and whether taxpayer dollars are being used responsibly," Moore said, citing national research on "tunneling" and hidden profits. Maureen Maegret of the Senior Agenda Coalition and Kathleen Girard also testified in support, citing studies that show substantial hidden profits in other states.
The Rhode Island Health Care Association (RICA) opposed the bill as duplicative and potentially burdensome. John Gage, president of RICA, said federal and state disclosures — including Medicaid and Medicare cost reports and existing state change‑of‑ownership reviews — already require extensive financial data; he warned the bill could add administrative overhead without improving resident care.
Committee members asked whether state statute should codify protections if federal regulations change; RICA indicated a willingness to discuss drafting changes with sponsors. After discussion, the committee voted to hold SB 704 for further study.
