New York hospitals treated 40% of the nation's COVID-19 patients yet received only 9% of federal funding.

Protect NY Hospitals

NYS hospitals and healthcare systems need continued direct federal funding to meet the high costs of treating patients with COVID-19.

Our hospitals continue to incur major expenses related to increasing bed capacity, purchasing personal protective equipment and hiring needed staff.

Hospitals across the state have identified staggering revenue losses as their number one financial concern during this pandemic and have reported that revenues crashed by over 40% during the last half of March alone.

It’s true that New York’s hospitals have accessed $7.8 billion in federal support, but it’s a drop in the bucket when you consider they took on at least 40% of COVID-19 hospital admissions nationwide yet received just 9% of federal funding distributed.

This extreme fiscal stress has forced hospitals to take funding advances and loans, delay accounts payables, furlough thousands of staff and postpone much-needed capital projects which has had a devastating impact on the state and regional economies.

 

NYS needs direct federal aid to meet the high costs of responding to the COVID-19 pandemic.

The COVID-19 pandemic has had a devastating economic impact on the state of New York, which now projects that revenue during the current fiscal year will be $13.3 billion lower than estimated earlier this year.

To maintain a balanced budget, New York will need to make drastic cuts, which could mean a 20% to 30% reduction in state Medicaid funding. These cuts would be on top of $2 billion in Medicaid cuts recently adopted in the New York state budget.

Federal aid for state governments would provide critical support to mitigate these unprecedented midyear state reductions, which would most certainly extend to New York’s hospitals and health systems at a time when we can least afford it.

 

Our hospitals are in a financial vise.

New York’s healthcare workers have risen to meet this ongoing, unprecedented challenge.

Without additional federal funding support to recognize the extraordinary cost of our COVID-19 response, many hospitals will struggle to survive.

Massive cuts to Medicaid on top of that will make the financial future of New York state hospitals and health systems that much bleaker.

New York needs your help.