On Friday, May 8, KHA hosted a press conference to announce the publication of a new report outlining the changes Kentucky hospitals are facing in the wake of the nearly $7 billion in federal cuts they will suffer through 2024.
The report details an analysis, by the national consulting firm of Dobson/DaVanzo, of the impact these payment cuts will have on the financial bottom line of Kentucky hospitals. The analysis found Kentucky hospitals will lose more money than they gain in new revenue from expanded health insurance coverage. KHA supports the governor’s decision to expand Medicaid and the significant revenue it generates; however, the new expansion revenue is less than the cuts Kentucky hospitals will experience in order to finance the Affordable Care Act (ACA).
KHA also released the results of a survey of Kentucky hospitals regarding the way hospitals are cutting costs and finding as many ways as possible to avoid reducing services for the communities they serve.
KHA commended the commonwealth on its successful roll out of health care reform and the coverage now available to so many Kentuckians. The report however highlights how this success has unfortunately come at significant cost to Kentucky hospitals.
