State Pumps $230 Million in Funding For Mid-Hudson Health Care Projects
Real Estate In-Depth | March 2016
ALBANY—New York State announced on March 4 $230.5 million in grant awards for 15 health care capital projects in the Mid-Hudson region. The funding is a portion of a $1.5-billion commitment made by New York State to help health care providers statewide fund critical capital and infrastructure improvements, as well as integrate and further develop health systems.
“We have a responsibility to continue to make critical capital and infrastructure improvements that transform our health care system into one of sustainability with a deep focus on improving patient care and delivery of vital services.” Gov. Andrew Cuomo said. “This funding allows them to do just that and is yet another example of how New York is leading the nation in adapting to meet 21stcentury health care needs.”
The top grant awards were given to: HealthAlliance Hospital (Kingston) $89 million (Kingston), Montefiore New Rochelle Hospital $44.2 million, Crystal Run Healthcare $25.4 million (for new building projects in West Nyack and Monroe), Bon Secours (Port Jervis) $24 million, Nyack Hospital $17.8 million, St. John’s Riverside Hospital (Yonkers) $16.5 million and St. Joseph’s Hospital (Yonkers) $9.3 million.
The awards are being made through the Capital Restructuring Financing Program and Essential Health Care Provider Support Program. Both were created by Governor Cuomo to support the goals of the Delivery System Reform Incentive Program (DSRIP), the main mechanism for investing the $7.3 billion in Medicaid savings that resulted from the groundbreaking waiver between New York and the federal government in 2014.
The goals of DSRIP include reducing health care costs, improving the health of New Yorkers, reducing avoidable hospital admissions and emergency room visits by 25% by 2020, and ensuring the financial sustainability of safety net health care providers.
New York State Health Commissioner Dr. Howard Zucker said, “Restructuring New York’s vast health care system will require extensive structural changes to our facilities as well as new approaches to the delivery of health care. These funds will help us balance system-wide reforms with the preservation of essential health care services during this time of change.”
Dormitory Authority of the State of New York President and CEO Gerrard P. Bushell said, “DASNY is proud to partner with the New York State Department of Health in administering these grants that support the transformation of health care across New York. A strong health care system underpins the economy of our great state by keeping New York competitive and healthy.”