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Illinois Hospitals Face Unprecedented Challenges – SB 1763 Can Help
Thursday, Apr 20, 2023 - Posted by Advertising Department [The following is a paid advertisement.] Throughout the pandemic, hospitals and frontline healthcare professionals dedicated countless hours and significant resources to save lives and provide needed care. Fast-forward a couple years into the public health crisis and headlines like these stretched across news websites:
• “Hospital Finances Are Deteriorating, Fitch Says,” from The Wall Street Journal on Aug. 16, 2022 Facing dire financial distress—from increased labor, drug and supply costs—Illinois hospitals are asking state lawmakers to pass Senate Bill 1763, which provides the first General Revenue Fund (GRF) Medicaid rate increase for hospitals in 28 years. The bill would increase hospital Medicaid base rates by 20%, to release the pressure valve on hospitals’ deteriorating finances. SB 1763 is especially needed as:
• Illinois ranks 48th in Medicaid spending per enrollee, with only Georgia, South Carolina and Nevada spending less. Support and co-sponsor SB 1763 to preserve access to care for our most vulnerable urban and rural communities. SB 1763 will reduce the shortfall in Medicaid hospital rates, which now reimburse only about 80% of hospitals costs. Discover the facts to learn more.
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Medicaid Coverage Benefits Patients, But Funding Inequity Jeopardizes Access To Hospital Care
Wednesday, Apr 19, 2023 - Posted by Advertising Department [The following is a paid advertisement.] Illinois’ Medicaid program provides health coverage to nearly 30% of the state’s population—3.6 million children and adults. In 1995, only 10% of Illinoisans were covered by Medicaid. As the state’s largest health insurer, Medicaid has opened pathways to care for low-income residents, leading to better health outcomes. But, Medicaid reimburses less than 80 cents for every $1 hospitals spend to provide Medicaid patients with high quality care. As hospitals face dire financial distress—from higher labor, drug and supply costs—this shortfall is exacerbating the challenges brought on by inflation and staffing shortages. What can be done? Illinois hospitals are urging state lawmakers to support Senate Bill 1763 for the first General Revenue Fund (GRF) Medicaid hospital rate increase in 28 years. Consider the following:
• The GRF Medicaid hospital inpatient rate is less today than in 1995, while hospital costs are up 85%. Passing SB 1763 would bring a much-needed 20% across-the-board increase to hospital Medicaid base rates—helping preserve and improve equity in funding for hospital care. Discover the facts to learn more.
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