'Not an industry that people should profit from': A look at NY's proposed nursing home profit cap
Legislation’s progress so far It was during a mid-February press briefing that Gov. Andrew Cuomo first publicly voiced support of New York state deciding how much nursing homes can profit. “If you’re a for-profit nursing home, I believe it should be mandated how much you put back into the facility and how much profit you can make,” he said. Cuomo later included the proposed profit cap, also called a medical loss ratio, as an amendment to his 2021 budget proposal. It would mandate nursing homes put at least 70% of their revenue toward caring for residents. Both the st...
Source: wbfo.org