California approves $150M loan program for hospitals

The California Assembly approved a $150 million loan program for distressed hospitals, with leaders promising to spend more money on hospitals later in the legislative session, the Los Angeles Times reported May 5. 

Typically, California doesn't approve new spending until June, but the rural hospital crisis in the state accelerated the legislation. 

The measure was widely expected to pass through the Assembly. The Senate approved the bill by a vote of 29 to 8.

Some hospital officials worry that the program won't be enough. The California Hospital Association asked for a one-time payment of $1.5 billion, according to the Times.

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Articles We Think You'll Like

 

Featured Whitepapers

Featured Webinars