As financial aid for hospitals begins to be deployed across the country, some of the rural administrators worry it’s only a temporary fix, not a long term solution.
Across the country, hospitals are seeing their share of more than $100 billion in federal stimulus money show up in their bank accounts. As funding from other sources of revenue dries up, rural hospitals, many already in financial trouble, wait and wonder whether federal funding will be enough to keep their doors open.
According to the U.S. Department of Health and Human Services (HHS), $30 billion in federal funding has already been deposited into the bank accounts of hospitals. Part of the Coronavirus Aid, Relief and Economic Security (CARES) Act passed on March 27, the first deposits were allocated to hospitals based on the total amount of Medicare reimbursements they received for services.