California is putting money into a new program to help struggling hospitals. Governor Gavin Newsom is signing a new law creating a 150-million dollar fund to provide zero-interest cash flow loans to hospitals experiencing extreme financial distress. The money can help medical centers remain open or assist in the reopening of recently closed hospitals. State Senator Shannon Grove of Bakersfield recently requested emergency funding to keep Central Valley hospitals operating. In a statement, she thanks Newsom for responding to the request but says there is more to do to ensure their long-term success. She is calling for increased Medi-Cal reimbursement rates and flexibility with seismic retrofit compliance.
California Creates Fund for Hospitals in Financial Distress
