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State offers $50M for hospitals

New York State will make available $50 million to help hospitals adjust to changes in Medicaid payment formulas, designed to reduce inpatient services in favor of outpatient care, the Department of Health announced.

“As the health care marketplace moves to emphasize outpatient care, our hospitals need to invest in construction and medical equipment to give their patients safe, modern, efficient facilities,” Gov. David A. Paterson said in a statement.

Grant applications will be due May 14. The money will fund proposals the applicant’s approved transition business plan and provide for continued financial viability in response to changes in Medicaid payments.

Applications and related materials are online at www.nyhealth.gov/funding.