TICONDEROGA — Moses-Ludington Hospital is getting $2.18 million from a state award to help shore up its financial structure.
The temporary funding allows Moses-Ludington to work toward sustainable operations while maintaining critical services to the community.
The Interim Access Assurance Fund money is for what the state calls “safety-net hospitals,” those in dire financial straits that need help.
Moses-Ludington Hospital, which is part of the Inter-Lakes Health group in Ticonderoga, recently cut or reduced 33 jobs, trying to shore up operations after a $3 million deficit from 2013.
Hospital spokeswoman Jane Hooper said the money will enable Moses-Ludington and its parent entity, Inter-Lakes Health, to plan for future stability.
“The organization was able to show it (the money) was essential to the community, it has the financial need, so they can come up with a plan.
“This will give them time to come up with a plan.”
The Interim Access Assurance funding is part of a larger project, Hooper said — the federal Delivery Systems Reform Incentive Payment Program.
“DSRIP is designed for hospitals to look at current operations and services, everything they’re doing, to make sure they’re in line with what the actual needs of the community really are.
“It’s (provided) hoping these hospitals will transform to meet needs for local market demand.”
Inter-Lakes Health has applied for the Reform Incentive funding, she said, so it can make the changes it needs to stay solvent.
“It allows them to continue operating as is, while they continue future planning. They can do both things concurrently.”
RESHAPING HEALTH CARE
State regulators announced this week that 27 hospitals in New York state would be getting a share of $462 million as part of an effort to reshape the health-care system in New York.
About $212 million is for safety-net hospitals like Moses-Ludington, those serving many low-income residents.