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Governor Signs Distressed Hospital Loan Program Bill; HCAI to Host May 23 Webinar

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On May 15, Gov. Newsom signed Assembly Bill (AB) 112, which establishes the Distressed Hospital Loan Program. The bill appropriates $150 million for the loan program, which will provide interest-free cash-flow loans to qualifying not-for-profit and public hospitals in financial distress or to governmental entities representing a closed hospital to help reopen the closed hospital. 

CHA to Host Webinar on 2024 Inpatient Prospective Payment System Proposed Rule

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On May 22, CHA will host a webinar on the 2024 inpatient prospective payment system (IPPS) proposed rule issued by the Centers for Medicare & Medicaid Services. This is an opportunity to join CHA’s Megan Howard and Chad Mulvany as they provide a summary of the proposed rule implications for hospitals and how they can share concerns about the impending changes. 

Breaching the Debt Ceiling Will Likely Impact Medicare and Medicaid Payments

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Congressional leaders and President Biden continue to try to find agreement on a plan to raise the federal debt limit. The borrowing limit for the federal government is set in statute and once it’s reached (known as the X date) the federal government can no longer meet its financial obligations. Once the limit is reached, it is unclear how the U.S. Treasury will disburse a limited pool of funds collected daily against a growing list of unmet obligations, including Medicare and Medicaid reimbursements to providers.