U.S. Sen. Charles Schumer says the federal government is providing $10 billion to designated hospitals and providers in ‘hot spot’ areas, and New York will receive $4.3 billion of that funding.
“New York and its hospitals have been amongst the hardest hit in the nation, and with this funding going out, the frontline fight being waged by our health care system and its incredible workforce will receive the hot spot dollars they need, and so very much deserve to keep saving lives,” said Schumer.
Hospitals across the state are reporting millions of dollars in losses. Mohawk Valley Health System alone is losing $5 million per week in revenue, according to hospital leaders.
“Across the state of New York, hospitals and health systems report that they are losing hundreds of millions of dollars per month because of cancelled elective procedures, increased staffing and overtime costs, expanded bed capacity, and increased spending on supplies and equipment to meet the surge in COVID-19 patients,” said Schumer.
Health systems across the state expect to lose more than $1 billion combined from the pandemic.
The CARES Act included $100 billion in additional funding for new programs to provide grants to hospitals, public entities, not for profit entities, and Medicare and Medicaid enrolled suppliers and institutional providers to cover unreimbursed health care related expenses or lost revenues attributable the coronavirus impact. The bill that passed the Senate yesterday includes an additional $75 billion for this fund.