Officials announce $892 million in federal funding for N.Y. hospitals
U.S. Sen. Minority Leader Chuck. Schumer and U.S. Sen. Kirsten Gillibrand announced 4,941 hospitals across New York will receive a total of $891,935,762 designated through previous COVID relief bills. The funding comes from the Provider Relief Fund and will make up for at least 87% of lost revenue at all hospitals and providers through Q2
“As New York battles a second wave in COVID cases, our hospitals are once again stepping up to the plate, making incredible sacrifices by putting public health above profit for months, and working ceaselessly to help New York beat back the virus,” Schumer remarked.
“Today’s funding is critical to making up for lost revenues from the first wave and keeping our hospital doors open. New York and its hospitals have been amongst the hardest hit in the nation, and with this funding going out, the continuing frontline fight being waged by our health care system and its incredible workforce will receive the dollars they need, and so very much deserve, to keep saving lives,” Schumer explained.
“We have asked so much of our doctors, nurses, hospital workers, and public health professionals across New York, and they continue to give it their all on the frontlines,” Gillibrand stated.
“But the fact remains that they are being stretched to the limit, and are in desperate need of more resources to battle another dangerous surge. Today’s funding announcement is a great step in the right direction, but I won’t stop fighting until Washington delivers critical relief to hospitals and health care providers,” Gillibrand added.
Schumer was the lead author and architect of the ‘ Marshall Plan for Healthcare’, included in previous COVID relief legislation, securing hundreds of billions of dollars in support and relief for the health care system. The senators said the funding announced today is the first revenue-based tranche going out to New York’s hospitals.
Across the state, hospitals and health systems reported losing hundreds of millions of dollars per month because of canceled elective procedures, increased staffing and overtime costs, expanded bed capacity, and increased spending on supplies and equipment to meet the surge in COVID patients. As New York experiences a second wave of COVID cases, hospitals are facing huge financial risks again. Schumer and Gillibrand said today’s funding is imperative to keeping the state’s hospitals open and able to serve COVID patients.