Posted on 05/04/2023 3:17:11 PM PDT by 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.
(Excerpt) Read more at calmatters.org ...
Including illegal aliens thanks to Newsom and the California democrats.
So the government is a bank. Jeez, banks can’t even make it, how’s the government going to do something they know zero about? (Rhetorical question. I know the answer..) Ca residents are suckers.
Idiots. It’s the government that’s the cause of it. Now they’ll loan them the money?
Emergency rooms closing was the big news the big news in southern Cal decades ago. This is just the coup de grace. Next step will be Medicare for all.
There’s more. Wasn’t it the big HMO’s that supported Obamacare?
The government loaning you money to keep you from going under because of laws the government has passed is a disgrace
Here on the Central California coast my local hospital went bankrupt. 85% of the births at the hospital were MediCal covered. An additional percentage didn’t even qualify for MediCal because of there being such a short period of time between arriving at the hospital and illegally crossing the border. Lots of homeless arriving at the emergency room due to fentanyl overdoses. Then they cost shift all of this as much as possible to those of us with private insurance or paying cash.
Ah yes the old we’re here from the governement and we’re here to help
That sounds like the result of severe multifaceted structural problems, not just a problem or two. California is just digging the hole deeper. Those loans will not be repaid. Might as well call the grants.
The hospital business model is broken and nationalization is right around the corner.
And that was the intent of ObamaCare all along.
“So the government is a bank”
In how they want to run this program...no.
The bank would never establish a gift of money to a business whose only by product is their constituents health. (A no interest loan for an undetermined amount) And with the need to pay back this loan, they will now have an operations overhead that broke them the first time and a bill to the state for money they won’t be able to recoup at current prices with a history of short sided bills. Plus, as has been previously mentioned, are they going to be able to service those that can’t pay at all that sit in the ER all day?
This is a losing (pandering) situation. All they are doing is spreading the wealth of the rich, who can mostly afford it, and the middle class, who mostly can’t, to the penniless that can’t barely eat, to get votes.
wy69
“So the government is a bank”
In how they want to run this program...no.
The bank would never establish a gift of money to a business whose only by product is their constituents health. (A no interest loan for an undetermined amount) And with the need to pay back this loan, they will now have an operations overhead that broke them the first time and a bill to the state for money they won’t be able to recoup at current prices with a history of short sided bills. Plus, as has been previously mentioned, are they going to be able to service those that can’t pay at all that sit in the ER all day?
This is a losing (pandering) situation. All they are doing is spreading the wealth of the rich, who can mostly afford it, and the middle class, who mostly can’t, to the penniless that can’t barely eat, to get votes.
wy69
Actually, it was the intent of Medicare, all the way back in 1965, but the designers did not anticipate that guaranteed payment for any NEW technology that could POSSIBLY improve or extend life would create trillion dollar industries.
The Hillary plan in 1993 was close to nationalization, but her political incompetence killed it.
The whole thing is close to collapse now, it won't be long until the hospitals are ether nationalized outright or become public utilities.
CA spending money like they have it.
Liberals governing plan:
Step One: Create a crisis by regulating and taxing an industry to the point they start going out of business.
Step Two: Increase taxes on businesses and individuals in order to pay the previously overly-regulated and taxed industry to convince them not go out of business.
Step Three: Utopia!
There will always be doctors, there will always be nurses, and there will always be hospitals.
There will not always be healthcare MBAs.
They should just ask for some of the reparations.
Yes... A complete mystery why hospitals would be losing money with tens of millions of illegal aliens guaranteed free medical care....
“which covers about 15 million people in the state”
Only in a democrat’s feces muddled mind is something like this considered a success.
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