Some children’s hospitals collectively stand to lose billions of dollars in revenue once Trump’s wide-ranging tax and spending law is fully enacted, according to the Children’s Hospital Association. The extra Medicaid funds, on average, make up more than a third of children’s hospitals’ total Medicaid revenue and about 14% of their operating revenue overall, according to the Children’s Hospital Association. Richard Park, a director at Fitch Ratings, a credit rating agency, said the Medicaid funding cuts present a “long-term headwind” for children’s hospitals. He said state-directed payments to children’s hospitals and other facilities amount to “corporate welfare,” often helping financially strong institutions get richer. While some children’s hospitals have strong balance sheets, boosted by philanthropy, that is not the case for all, Cook said.