California hospitals have started paying billions of dollars into a state-federal program that will match the contributed funds, according to a Daily Breeze report.
The hospitals will pay around $3.1 billion, which will be matched by the federal government, as well as an additional $2.6 billion.
The program was created to help the state's hospitals recover some of the $4.6 billion they lost in 2006 because of lower Medi-Cal reimbursement rates. Hospitals have until Oct. 7 to pay the first of four installments.
Read the Daily Breeze report on California hospital funds.
Read more on hospital finance:
-Hospital Outpatient Visit Rates Flat From 1997-2007
-Going Global: The Perils and Potential of International Expansion
The hospitals will pay around $3.1 billion, which will be matched by the federal government, as well as an additional $2.6 billion.
The program was created to help the state's hospitals recover some of the $4.6 billion they lost in 2006 because of lower Medi-Cal reimbursement rates. Hospitals have until Oct. 7 to pay the first of four installments.
Read the Daily Breeze report on California hospital funds.
Read more on hospital finance:
-Hospital Outpatient Visit Rates Flat From 1997-2007
-Going Global: The Perils and Potential of International Expansion