New York Hospitals Compete for Share of $8B

Many hospitals in New York have filed project proposals with the state department of health seeking a portion of the $8 billion in federal dollars to be spent on healthcare initiatives over the next five years, according to an Albany Business Review report.

The money is tied to savings from recent Medicaid reform, and nearly 75 percent of the funds are set to be spent on efforts to reduce unnecessary hospital use in New York, according to the report.

The health systems submitted their proposals seeking to become the regional Performing Providers System that will decide where the available funds get spent. Albany (N.Y.) Medical Center, Schenectady, N.Y.-based Ellis Medicine and Albany, N.Y.-based St. Peter's Health Partners have all submitted project proposals, according to the report. 

More Articles on Medicaid Reform:

Indiana Proposes Medicaid Expansion Alternative 
What You Should Know About Medicaid ACOs
New York, Federal Officials Reach Agreement on $8B Medicaid Waiver