Under California’s waiver, known as Medi-Cal 2020, the federal government originally approved $6.2 billion to be paid out over a five-year period to help California advance value-based reform initiatives, according to California Healthline.
The waiver, approved by CMS in January, initially designated $236 million for uncompensated care costs. CMS notified state officials on July 14 that it had upped that number to nearly $1.8 billion for the next four-year period.
The funding change is effective immediately.
CMS granted Tennessee a two-month temporary extension on its 1115 waiver June 30. Unlike California, Tennessee hasn’t expanded its Medicaid program.
More articles on finance issues:
PeaceHealth rolls out patient financial assistance program
This week’s 5 must-reads for hospital CFOs
Fitch affirms Tufts Medical Center’s ‘BBB’ rating
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.