Skilled Nursing Facilities and their operational associates need to prepare themselves now for new disclosure requirements that require much greater disclosure of ownership as well as disclosure from a much broader class of entities, including landlords, consultants, and managers. On October 1, 2024, the Centers for Medicare and Medicaid Services (“CMS”) published a new Skilled Nursing Facility (“SNF”) Attachment on the Form CMS-855A seeking an expanded array of ownership and control interests as part of their enrollment records. This new form is meant to operationalize CMS’s final rule requiring updated disclosures, which went into effect earlier this year.
As we previously noted when CMS finalized its rule , SNFs are now required to disclose virtually all ownership interests except in limited circumstances and this disclosure requirement extends well beyond the operator/license holding entity and applies to “additional disclosable parties” (“ADPs”). An ADP is defined as a person or entity who: Exercises operational, financial, or managerial control over the SNF or a part thereof, or provides policies or procedures for any of the SNF’s operations, or provides financial or cash management services to the SNF; Leases or subleases real property to the SNF, or owns a whole or part interest equal to or exceeding 5 percent of the total value of such real property; or Provides management or administrative services, management or clinical consulting services, or .