ALBANY, N.Y. (AP) - New York’s health commissioner says the state has been waiting 18 months since requesting a $10 billion federal Medicaid waiver he calls essential for eight struggling hospitals in Brooklyn and others around the state.
Dr. Nirav Shah says Tuesday nearly half New York’s 227 hospitals are financially distressed.
Waivers exempt states from federal program requirements, for example letting them move beneficiaries away from fee-for-service treatment into managed care.
The Cuomo administration’s proposed budget says the waiver would let the state reinvest up to $10 billion in health care delivery improvements.
It would provide $1.2 billion in capital for hospitals, clinics and long-term care facilities.
The administration also proposes “encouraging private equity investments.”
The federal Centers for Medicare and Medicaid Services did not immediately reply to a query about the waiver.
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