Over the past six years, 71 rural hospitals have closed nationwide. Another 683 are at risk of closing, reports HealthcareDive.The closure of these facilities has left many local communities depressed, with elderly and ill rural dwellers wondering where they’ll get help.
Hospitals generally stay afloat with Medicare payments and federal funds from the Affordable Care Act. But those programs often reward hospitals that do a high-volume business. And some states, including Kansas, Oklahoma and Texas, have refused these federal matching funds, leaving rural hospitals in dire straits.
One answer for some hospitals may be the federal New Markets Tax Credit program. The program in 2000 to spur community development and economic growth. The NMTC uses tax credits to attract private investment to distressed communities.