In order to avert a financial crisis at Boston Medical Center and other hospitals in Massachusetts, the Obama administration has agreed to a plan that will bail them out with $435 million. This includes $180 million for BMC and gives Cambridge Health Alliance, which runs the state’s only public hospital, an extra $163 million in federal Medicaid funding over the next two years. The state must also come up with about $100 million to match this (which must mean more taxes). BMC was going to run out of money by next fall without the bailout. Dr. JudyAnn Bigby, secretary of Health and Human Services in Massachusetts, put her two cents in when she said that "that hospitals that care for large numbers of poor patients need help preparing for anticipated dramatic changes in the way providers will be paid by government and private insurers". What? Do you really think capitated care will work for poorer patients? This population has some of the most complex medical issues and are noted for being noncomplaint. Are you kidding me? Mark this blog entry down. P4P has never been proven to work and BMC will be in even bigger trouble by next year. And President Obama will have to bail them out again. By the way, where is this invisible pot of gold where this bailout money is coming from?
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