WASHINGTON, July 5, 2012 /PRNewswire/ -- Healthcare facilities and lenders are forming the Coalition for Healthcare Finance (CHF) and CHFPAC, a new bi-partisan trade association and political action committee to support federal programs that enhance capital access.
"Creating a trade association and PAC is a natural step so we can be effective advocates in Congress and support candidates who understand the importance of healthcare finance to facilities and the economy," said CHF Chairman Brian Reynolds who also serves as Managing Director of Long-Term Care for Capital Funding, LLC in Baltimore, Maryland, an active FHA healthcare lender.
The group is focusing its effort on FHA, which provides mortgage insurance for skilled nursing, assisted living and memory care facilities through the Section 232 program and for hospitals through its Section 242 program. Both programs are "negative credit subsidy," meaning they do not require taxpayer funds to operate.
"FHA healthcare has always been a stealth program," says CHF CEO Chris Boesen, who previously served as FHA's Director of Insured Health Care Facilities. "A lot of our focus will be on the FHA programs that provide improved credit access for facilities nationwide, but any issue that affects healthcare facilities' ability to access financing is important to our members."
"There are several trade groups in Washington that deal with healthcare, but none has CHF's singular focus on credit access," said CHF board member Frank Romano, who is also a board member for the American Health Care Association and owns and operates several successful healthcare facilities in Massachusetts. "We are already working cooperatively with other groups in healthcare and finance who share similar policy goals."
The organization has already begun its advocacy efforts and has provided formal comments on FHA plans to charge higher fees for financing and to impose new regulations on operators of long-term care facilities.
"To say we've hit the ground running would be an understatement," said Reynolds. "This is an election year and Congress is looking critically at many federal programs. We need to support thoughtful candidates and good policies regardless of party. Congress needs to know how important this issue is to facilities, care-givers and thousands of local economies."
SOURCE Coalition for Healthcare Finance