Hospital Corporation of America estimates that Florida Medicaid payments to its hospitals may be reduced by approximately $50 million in the next year due to the PPACA and recent Florida legislation, according to a filing with the Securities and Exchange Commission.
Roughly $25 million is expected to be lost in the second half of the current calendar year, and another $25 million is expected to be reduced in the first half of calendar year 2012.
According to the filing, the Florida legislature passed a budget agreement reducing Medicaid reimbursements to hospitals in May 2011, and HCA said it is designed to "reduce coverage, enroll Medicaid recipients in managed care programs and/or impose additional taxes on hospitals to help finance or expand" the Medicaid system. While waivers may be sought in states with budget deficits, HCA still anticipated decreased reimbursement.
Read the SEC's report on HCA.
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Roughly $25 million is expected to be lost in the second half of the current calendar year, and another $25 million is expected to be reduced in the first half of calendar year 2012.
According to the filing, the Florida legislature passed a budget agreement reducing Medicaid reimbursements to hospitals in May 2011, and HCA said it is designed to "reduce coverage, enroll Medicaid recipients in managed care programs and/or impose additional taxes on hospitals to help finance or expand" the Medicaid system. While waivers may be sought in states with budget deficits, HCA still anticipated decreased reimbursement.
Read the SEC's report on HCA.
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