Health Care Provider Loan Program Provides a Much-Needed Cash Injection Ahead of Projected COVID-19 Surge
Health Care Provider Loan Program Provides a Much-Needed Cash Injection Ahead of Projected COVID-19 Surge
Funds Can Help Sustain Hospital Operations in Coming Weeks
“We are grateful that Blue Shield of California has stepped up to offer up to $200 million in short-term loans to help offset some of the heavy losses hospitals and doctors are enduring as they suspend normal operations before the expected surge of COVID-19 patients,” said Carmela Coyle, President & CEO of the California Hospital Association.
“Right now, hospitals are focused on one thing: caring for patients during this crisis,” Coyle said. “From a financial perspective, however, the immediate fiscal stress hospitals are facing pales in comparison to the long-term devastation that COVID-19 will wreak on California’s health care system as more and more hospitals are driven into the red financially.”