Business

Texas hospitals expect to lose $27 million a day in Medicaid funding starting Tuesday

When the state’s new fiscal year begins on Tuesday, Texas hospitals expect to lose $27 million a day in additional Medicaid funding. The shortfall is the result of a decision by the Trump administration to withhold approval from Texas for about $9.8 billion in the…

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When the state’s new fiscal year begins on Tuesday, Texas hospitals expect to lose $27 million a day in additional Medicaid funding.

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The shortfall is the result of a decision by the Trump administration to withhold approval from Texas for about $9.8 billion in the next year from three programs, the bulk of which affects the Comprehensive Hospital Increase Reimbursement Program (CHIRP).

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This program gives hospitals additional funding to cover the difference between Medicaid rate payments and the actual costs that hospitals incur to provide services to Medicaid patients. Essentially, hospitals, which often are paid less than what they spend on Medicaid patients due to outdated payment rates set by the state, are losing out on their additional reimbursement for 2027.

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Local governmental entities collect taxes from hospitals — about $4 billion a year, according to the Texas Hospital Association — and under CHIRP, the federal government matches those funds so that Texas hospitals can then use them to cover the actual costs of providing Medicaid services. Hospitals say those CHIRP dollars are critical and if they lose that funding, they will likely have to cut services to patients.

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Four million low-income Texans are enrolled in Medicaid, most of them…

Original source: https://apnews.com/business

Business

The mood of war-battered Iran? Defiant.

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Welcome to the daily Inside Scoop newsletter. Iran’s government is encouraging massive rallies across the country, but why? The regime seems to want to show everyone unified after more threats from President Donald Trump and ahead of the United Nations General Assembly next week. Plus,…

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