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Ontario allocates $1.2 billion to ease hospital finances

Ontario allocates $1.2 billion to ease hospital finances

TORONTO — The Ontario government has announced it is providing $1.2 billion to Ontario’s public hospitals to help them deal with financial pressures created and worsened by COVID-19.

A total of $697 million in funding will be allocated to help cover historic working funds deficits for qualifying public hospitals, with a focus on small, medium and specialty and rehabilitation hospitals, which have unique and historical funding challenges, said the province.

Other funding challenges came through the loss of such revenues as co-payments for private rooms and the reduction of retail services, stated a release. The province is setting aside $572.3 million to reimburse qualifying portions of these losses.

“Hospitals have been at the centre of the pandemic from day one, providing excellent care for our sick and vulnerable, and responding to the various outbreaks without hesitation,” said Ontario Premier Ford in a statement. “Clearly, this additional care comes at a cost, so as a government we must step up and support them. We need to ensure that our hospitals remain viable and are there for people long after COVID-19 has been beaten.” 

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