Bill > A02738

This bill directs the Commissioner of Health to establish up to two demonstration projects to encourage equity investment in the operation of residential health care facilities. The projects are designed to promote the development of new sources of capital for residential health care facilities and to measure the impact of such investment on capital improvements, technology, and quality of care. The bill allows for the purchase of up to 15 existing high-quality facilities to be operated by limited liability companies, with at least one member having relevant experience in nursing and health care. The facilities must comply with all operating standards and regulations, including those related to Medicaid admissions. The Commissioner is required to evaluate the effectiveness of the program and its impact on quality of care within two years of the first facility commencing operations.