$1.2 billion investment will help ensure hospitals can continue to provide the high-quality patient care Ontarians need and deserve
Ontario’s hospitals have been on the frontlines of the COVID-19 pandemic and our PC government is using every tool at our disposal to support them during these unprecedented times.
To that end, today we announced we are providing over $1.2 billion to help Ontario’s public hospitals recover from financial pressures created and worsened by COVID-19. This investment will ensure hospitals can continue to provide the high-quality patient care Ontarians need and deserve as we work together to stop the spread of this virus.
“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 Doug Ford, MPP for Etobicoke North and Premier of Ontario. “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.”
To ensure Ontario’s hospitals remain financially stable at a critical time, our PC government will be allocating $696.6 million in funding to help cover historic working funds deficits for qualifying public hospitals. The focus will be on small, medium as well as specialty and rehabilitation hospitals that carry a large fiscal burden due to their unique situations and historical funding challenges.
As a result of the COVID-19 pandemic, all hospitals have felt financial challenges not only through direct costs, but also through the loss of other forms of revenue. That’s why we will also be setting aside $572.3 million to help address these fiscal challenges by reimbursing qualifying portions of these losses.
The Ontario government remains committed to supporting hospitals so that they can continue to provide the care Ontarians need and deserve, today and in the future.