California's children's hospitals want taxpayer help for infrastructure, equipment upgrades: 5 things to know

California's children's hospitals are seeking financial help from taxpayers via a proposed $1.5 billion bond measure, according to a California Healthline report.

Here are five things to know.

1. The California Children's Hospital Association proposed the bond measure.

2. With the $1.5 billion, the state's children's hospitals hope to upgrade their infrastructure and equipment as they work to address increased demand for services and keep pace with medical care progress, according to the report.

3. The children's hospitals, which include eight private nonprofits and five University of California facilities, hope to get the issue before voters in November. They already submitted 643,000 signatures to county election offices to try to do so, reports California Healthline. A decision by the state on whether to call a vote on the bond is expected by the end of June.

4. David Wolfe, a legislative director with the Howard Jarvis Taxpayers Association, expressed concerns about the initiative, saying private donations or the state general fund, rather than bonds with added interest, could be used to pay for hospital renovations, according to the report. Supporters, meanwhile, argue the money for construction and equipment is worthwhile, the report states.

5. California voters have approved bonds for children's hospitals before. According to the report, they approved $750 million in 2004 and $980 million in 2008.

Read the full California Healthline report here.

 

More articles on healthcare finance:

8 health systems with strong finances
Mayo Clinic's operating income nearly doubles in Q1
Pennsylvania hospital discloses Medicare billing violations

 

 

More articles on healthcare finance:
Chicago Tribune editorial: Cook County Hospital Systems' ineptitude, carelessness is costing taxpayers
12 latest hospital credit downgrades
Inspector general: Billing, clerical errors cost Cook County Health and Hospitals System $165M

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

 

Featured Whitepapers

Featured Webinars

>