Adding $ 33 Million to COVID-19 Hospital Loan Fund to Deepen New York City Safety Net Hospitals Pandemic Response Support
$ 111 million investment will immediately increase the staffing needs of the Department of Health and Mental Hygiene and NYC Health + Hospitals, strengthening the front lines of healthcare
New York, New York State
Mayor Eric Adams announced the commitment of nearly $ 145 million in resources to support Safety Net Hospitals and enable NYC Health + Hospitals (H + H) and the Department of Health and Mental Hygiene (DOHMH) to increase numbers and fight the Omicron wave. The city added $ 33 million to the COVID-19 Hospital Loan Fund, for a total of $ 45 million, through a public-private partnership with Goldman Sachs that is accessible to hospitals in the safety net, non-profit facilities. lucrative that typically serve the most vulnerable New Yorkers and fall outside the H + H system. The administration is also spending $ 111 million to increase the staffing needs of the DOHMH and H + H, as part of the administration’s COVID-19 response master plan.
“It is 2022, not 2020, and New Yorkers need to be convinced that we are stepping up the fight against the Omicron push to keep them safe,” said Mayor Eric Adams. “This plan will ensure our frontline health heroes have the resources they need to deal with staff shortages and will continue to provide top-quality care to everyone who walks through their door.” “
âNew Yorkers deserve world-class health care, no matter where they seek care. This loan program and additional funding for our municipal agencies will give hospitals in the five boroughs the resources they desperately need, improve the workforce at our city’s health facilities, and ultimately save lives, âsaid Deputy Mayor for Health and Social Services Anne Williams-Isom. âWe need to support our city’s essential health care partners, especially nonprofit hospitals serving communities of color that suffer from decades of health care disparities. I am proud of the Adams administration for taking bold action during our very first week to fight the Omicron variant and I thank Mayor Adams for his leadership. “
âThe additional COVID-19 funding obtained by Mayor Adams will help us further secure the needed staff who will not only help care for New Yorkers during our Omicron push, but also provide relief to our health heroes who are in first line of this pandemic for almost two years â, declared NYC Health + Hospitals President and CEO Mitchell Katz, MD. âThe extraordinary COVID-19 response of our public health system would not have been possible without the continued support and advocacy of our city-wide leaders and partners. “
âAs cases and hospitalizations increase, we must do everything possible to strengthen our hospitals and the COVID-19 response now,â said Health Commissioner Dr Dave A Chokshi. âI thank Mayor Adams for his leadership and continued commitment to public health. “
âWe are proud to continue to support the city’s efforts in the fight against COVID-19, preparing us for a stronger recovery. This loan program is another way to ensure that New York City’s public health apparatus remains strong during this difficult time, âsaid Rachel Loeb, President and CEO, NYCEDC.
âThe NYC COVID-19 Hospital Loan Fund was one of our first investments under our One Million Black Women initiative, a $ 10 billion commitment to reduce opportunities for black women over the next decade “, said Margaret Anadu, Global Head of Sustainability and Impact for Goldman Sachs Asset Management. âWe are proud to be doubling down on this effort alongside Mayor Adams, as COVID-19 continues to disproportionately impact many black communities served by these safety net hospitals. The Fund’s holistic approach will not only provide the resources for hospitals to hire additional healthcare professionals, but will also support these essential workers by funding the child care services they desperately need.
âWe appreciate Mayor Adam’s recognition that we are in this fight together, and that dealing with the increase in every New York neighborhood requires financial support for all hospitals in the safety net,â said LaRay Brown, CEO of One Brooklyn Health.
New York City’s public health and safety net hospitals are in crisis. Nurses and healthcare professionals have been overworked and understaffed for nearly two years on the front lines. Today’s announcement of additional funding is critical to supporting our healthcare workers and providing the care all of our patients need. We congratulate Mayor Adams for securing this vital funding to invest in the city’s staffing needs, support the current healthcare workforce, and help hospitals provide safe care to all New York communities, âsaid declared NYSNA Executive Director Pat Kane, IA.
The city-negotiated COVID-19 hospital loan fund provides loans to the needs of safety net hospitals by covering the costs of responding to the pandemic while hospitals seek reimbursements from FEMA and has already funded more than 2,400 Safety Net hospital staff serving over 26,000 patients. The Fund has been established and will be operated by NYCEDC.
Resources totaling $ 111 million for DOHMH and H + H will alleviate staffing requirements to increase temporary staff, including nurses, providers and other clinical teams. This will facilitate staffing needs throughout the healthcare system, especially in intensive care units, medical surgery units, emergency rooms and skilled nursing facilities.