Nearly $1B for N.J. hospitals

TRENTON – New Jersey hospitals will share in nearly $1 billion as part of the governor’s fiscal year 2013 proposed budget.

Distribution amounts for 72 hospitals were issued by the Department of Health and Senior Services.

Gov. Chris Christie’s proposed budget allocates nearly $1 billion in funding for Charity Care, Graduate Medical Education and the Hospital Relief Subsidy Fund.

“New Jersey hospitals provide excellent care to our state’s residents, even when they face challenging circumstances,” Christie said in a release. “It is critical that we support our hospitals in protecting the health of New Jerseyans and particularly our most vulnerable.”

The Governor’s proposed Fiscal Year 2013 Budget provides $961 million in hospital funding: $675 Million for Charity Care, $90 Million in Graduate Medical Education funding to train physicians and $166 million for the Hospital Relief Subsidy Fund, which assists hospitals with high volumes of behavioral health and obstetric care.

The Governor’s proposed budget also includes $30 million for the Health Care Stabilization Fund. That fund, which is awarded competitively in the spring, assists health care organizations in maintaining health care access in communities where services are at risk, the governor’s office stated.

The administration said that since Christie took office, funding for hospitals has increased $56.3 million.

In addition, the funding formulas were revised to make funding more equitable and predictable, according to the governor’s office.

Graduate Medical Education, Hospital Relief Subsidy Fund and Charity Care figures can be found at  

http://nyoobserver.files.wordpress.com/2012/03/hf_budget20131.pdf

Nearly $1B for N.J. hospitals