The Sheridan Memorial Hospital is hoping to obtain some of the funds that will be available to rural hospitals under the One Big Beautiful Bill Act.
Part of the Act creates a Rural Health Transformation Program, which allocates $10 billion per Federal Fiscal Year between 2026 and 2030 to the Centers for Medicare and Medicaid Services (CMS) for distribution to qualified states.
The new Federal Fiscal Year begins on October 1, preceding the Calendar New Year.
States must submit an application to the CMS by the end of the calendar year that contains a detailed rural health transformation strategy as well as a certification that includes specifics on how the program’s cash will be used.
States chosen for financing are determined by their rural population, the number of rural health institutions, and an examination of the state hospitals.
Mike McCafferty, CEO of Sheridan Memorial Hospital, shares additional information.
“At high level they’ve identified that the first $25 billion will be allocated to all 50 states, so that all 50 states would get around $100 million a year for 5 years, and then the second $25 billion is going to be identified within a final rule that CMS is putting together. Hopefully there’s going to be some funds available to assist in supporting rural health care in new and different ways.”
According to McCafferty, the hospital is actively pursuing initiatives that align with a number of BBB strategic categories, including innovation and care, technology, behavioral health, and workforce development, to mention a few.
Critics of the BBB point out that the measure removes more than $1 trillion from health programs, resulting in an estimated 10-million individuals losing health care coverage, and that it increases the national debt by at least $3.4 trillion.
It may also lower Medicare funding by up to $500 billion between 2026 and 2034.
