On October 13, 2023 the Governor of California signed the California Senate Bill No. 525 (“SB525”) into law, which is expected to raise the minimum wage for many California healthcare workers (W2 employees and 1099 independent contractors) from $16.00 per hour to $25.00 per hour according to a preset escalation timeline, beginning June 1, 2024. On January 10, 2024, Governor Gavin Newsom indicated that he is seeking changes to the law which will primarily be focused on further considering the state budget conditions and revenues. HealthCare Appraisers provides commentary here about the background of the law as it stands currently, and its potential impacts on both healthcare services organizations and the valuation of certain healthcare transactions.
Read the full article: The Impact of California’s Healthcare Minimum Wage Law on Valuations //
Source: https://healthcareappraisers.com/the-impact-of-californias-healthcare-minimum-wage-law-on-valuations/