New York officials will distribute $462 million to 22 safety-net hospitals and five public hospital systems to help them maintain operations, according to a report from The Wall Street Journal.
The funds come from an agreement the state struck with the federal government to reinvest $8 billion in federal dollars in health initiatives during the next five years. The money is tied to savings from recent Medicaid reform, and the state plans to spend nearly 75 percent of the funds on efforts to reduce unnecessary hospital use in New York. Earlier this year, hospitals and health systems submitted project proposals to the state health department, seeking a portion of the money.
The hospital systems receiving a portion of the funding at this time include New York City Health and Hospitals Corp. ($152.4 million) and East Meadow-based Nassau Health Care Corp. ($37.2 million), according to the report. Hospitals operated by Brooklyn-based State University of New York downstate, upstate and on Long Island will also receive $20.4 million, $15 million and $8.5 million in subsidies, respectively.
More funding will be available under the state Medicaid waiver next March, after more applications are filed, according to the report.
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