Coverage continues to grow concerning a controversial rule proposed by the U.S. Department of Health and Human Services seemingly targeting private equity investment in nursing homes. Industry publication McKnight’s Long-Term Care News quotes Greg Limoncelli, co-chair of Akerman's Senior Living & Care Sector Team, in a new article about the proposed rule, which would require nursing homes to disclose ownership, management, and/or clinical consulting services to the Centers for Medicare & Medicaid Services.

Many involved in the industry believe the proposed rule will deter private equity investment, limiting facilities' options for capital. Limoncelli told McKnight's the rule is too broad, making it difficult to know exactly what must be disclosed.

“The federal government has a very legitimate responsibility to make sure that Medicare and Medicaid funds are not stolen, there’s no fraud, and they’re used wisely,” Limoncelli told the publication. “But knowing how many tiers of private equity there are or who owns the brick-and-mortar (facility) … I’m not so sure that gets them anywhere.”