Blue Shield of California will give hospitals up to $200 million in loans and other financial support as the number of Covid-19 cases is expected to rise in the coming weeks.
The insurance provider will offer California hospitals financing guarantees, advance payments, and restructuring of contracts through two financial institutions.
“We are arranging hundreds of millions of dollars of support to clinicians and hospitals that are heroically serving Californians on the front lines of this fight,” Paul Markovich, president and CEO of Blue Shield of California, said in a news release.
The news comes as California braces for a surge ...