The legislation redesigns Illinois’ hospital assessment program, which provides federal Medicaid funding to hospitals and is especially crucial for organizations serving a large number of Medicaid beneficiaries.
The current assessment program is set to expire at the end of June. However, the newly signed legislation means Illinois hospitals could receive billions of dollars in Medicaid money if the federal government signs off on the revised program, reports WSIU.
Until the revised program is approved, the current program will remain in place. WSIU reports the approval process could take as long as a year.
More articles on healthcare finance:
Good Samaritan Hospital receives $21M gift from Berkshire Hathaway chairman
Moody’s: Nonprofit hospital rating downgrades rose sharply in 2017
Disney pledges $100M to enhance the patient experience at children’s hospitals
