Feds to give Calif. $1.8B in uncompensated care funding

CMS has updated California’s 1115 waiver by upping its uncompensated care funding to public hospitals by $472 million annually for the next four years.

Advertisement

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.

Advertisement

Next Up in Financial Management

  • Baylor College of Medicine and Texas Children’s Hospital established an affiliation more than 70 years ago in the Texas Medical…

  • Fitch revised Ontario, Calif.-based Prime Healthcare Services’ outlook to positive and affirms its “B” rating.  The revised outlook reflects Fitch’s…

  • Brentwood, Tenn.-based Lifepoint Health, a health system owned by private equity firm Apollo Global Management, has largely grown over the…

Advertisement

Comments are closed.