"By joining our system, Maimonides will be able to offer New Yorkers expanded access to high-quality care, seamless digital access to health records through MyChart, and ongoing financial stability. I think that financial stability will make a huge difference, because it's impossible to feel good about your institution and its ability to serve."
"Because we get a better rate for Medicaid patients, they saw us as being able to get them additional dollars. In terms of any merger, that's part of why we're the right partner."
"Medicaid and Medicare don't pay hospitals for the full cost of procedures, but government-run hospitals are given higher reimbursement rates. By joining H+H, Maimonides will gain access to those higher rates, which are expected to generate up to $9 million in additional revenue every month."
NYC Health+Hospitals CEO Dr. Mitchell Katz announced the pending acquisition of Maimonides Health, characterizing it as a stabilization measure rather than a takeover. The merger aims to improve financial sustainability and care quality while maintaining operational independence. Maimonides, a safety-net hospital serving predominantly Medicaid and Medicare patients, will benefit from higher government reimbursement rates available to public hospitals, generating approximately $9 million in additional monthly revenue. New York State will support the merger with a $2.2 billion five-year grant, including $200 million in loan forgiveness, $500 million for capital improvements, and $1.5 billion for operational support. These resources will help Maimonides address its budget deficit and provide expanded access to digital health services.
#hospital-merger #medicaid-reimbursement #healthcare-finance #safety-net-hospitals #public-health-system
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