President Barack Obama signed a $787 billion economic stimulus package into law Tuesday, which could pump billions into the healthcare industry.
The stimulus provision that may be most significant for SNFs is the additional $87 billion allocated for state Medicaid programs. However, states cannot receive the additional money if they cut their Medicaid programs. Many states are facing budget shortfalls and considering making cuts to their Medicaid programs, according to John Commins’ analysis of the stimulus package’s healthcare spending.
The stimulus package also places a moratorium on hospice payment cuts through October 1, 2009, according to the American Association of Homes and Services for the Aging.