Ontario Ministry of Health and Long-Term Care - Health Update - McGuinty Government Invests in Transition Strategy for Ontario Hospitals

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Health Update

McGuinty Government Invests in Transition Strategy for Ontario Hospitals

The McGuinty government is investing in a $200 million one-time transitional fund for Ontario hospitals this year. This comes at the end of the first phase of an 18-month process begun in October 2004 to balance hospital budgets by the end of March 2006. Hospitals have identified $174 million in savings in 2004/2005 and there will be hundreds of millions in additional savings on top of this in 2005/2006.

The one-time transitional fund is designed to assist hospitals by rewarding efficiency and helping hospitals become more efficient. The details of the $200 million allocation follow :

$65 million is being allocated to reward 32 hospitals who, while they are not yet balanced, are working to become more efficient. This funding is to support operational changes and initiatives to improve efficiencies.

A list of hospitals is available for download, below :

McGuinty Government Invests in Transition Strategy for Ontario Hospitals
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