MA hospitals get financial windfall

It may not be much, but every little bit counts in this economy. Massachusetts has awarded $32.6 million in grants and increased Medicaid rate payments to 69 hospitals and community centers across the state.

The biggest grants are going to Mercy Medical Center, Sisters of Providence in Holyoke, which gets $7 million, and Caritas Carney Hospital in Boston, which will receive $4 million.

Some of the hospitals have designated their incoming money for specific purposes, such as North Adams Regional Hospital, which plans to use its $1 million grant for technology upgrades. Others are pumping the money into their operational budgets.

The money for fiscal 2009 comes from the state's Essential Community Provider Trust Fund, which is dedicated to improving providers to serve populations in need more effectively.

To learn more about the grants:
- read this Healthcare Finance News item