To head off hospital closures, California legislators are fast-tracking a loan program

Cal Matters ^ | MAY 4, 2023 | ANA B. IBARRA

[artichokegrower]

California hospitals in financial trouble will soon be able to apply for interest-free state loans, although key questions about the selection process aren’t yet resolved.

The Legislature on Thursday approved a bill that will allocate a one-time sum of $150 million from the general fund to aid hospitals that are facing severe financial distress and are at risk of closure, or that have closed but have a plan to reopen. The loans would have to be paid back within six years, although loans may be forgiven for hospitals that meet certain requirements. Gov. Gavin Newsom needs to sign the bill to enact the program.

[rollo tomasi]

And that was the intent of ObamaCare Medicare/Medicaid all along. You need to go back further. "Obamacare" is just an insurance industry cash grab. "Greatest Generation" and Baby Boomers unleashes the actual poison pill. Fun times along the way, especially if you were a physician in the late 70's/80's. Time to pay the Piper now. Btw, Medicare is just tax and spend, just like Social Security, nothing is owed to you, just will of Congress and what scarcity can manage. Fun future ahead.

[rollo tomasi]

There has always been bean counters since Antiquity managing resources (Need that to sustain balance) and creating more resources to progress medical science, which practicing doctors and nurses have no clue how to formulate. Do you think medical equipment and pharmaceuticals come out nowhere? Takes investors and management to direct funds. Where do you you think academics got paid to formulate modern day medicine in the first place?

[EinNYC]

California’s money printing presses must be running night and day to fund this AND the utterly insane “reparations” for blacks. Now might be the right time for “The Big One”.

[minnesota_bound]

My cousins husband is a buyer of hospital supplies in Los Angeles. He was laid off at one hospital because they were losing so much money because of illegals that they had to close.
He was lucky that he had a contract and was able to get another job at another hospital doing the same thing so he was able to collect 2 paychecks for about 6 months.