For Release: Immediate, May 9, 2001

Governor Announces Loan for Hospital in Delaware County

Dormitory Authority, Health Department administer $500,000 loan

Governor George E. Pataki announced today that Margaretville Hospital in Delaware County will receive a $500,000 loan from the State's Restructuring Pool program, administered by the Dormitory Authority and the State Health Department.

"Margaretville Hospital provides quality health care services to an important rural community in Delaware County," Governor Pataki said. "This $500,000 in additional financial assistance will enable the hospital to improve its financial viability, while also helping to ensure access to quality health care for New Yorkers in this rural area of the State."

The financial support will help Margaretville Hospital in obtaining "critical access hospital" status, a step that will improve Medicare reimbursements rates for the hospital. The loan will also help the hospital improve key clinical programs, including inpatient care and emergency room services.

"This loan will help improve the hospital's financial viability and ensure high-quality health care services for Delaware, Ulster and Greene counties," said Thomas J. Murphy, Dormitory Authority Executive Director.

The State's Health Care Restructuring Pool Program was originally funded through Governor Pataki's historic Health Care Reform Act, and then expanded under the Health Care Reform Act of 2000. The funding is used to help financially troubled hospitals make a successful transition into New York's competitive managed-care service delivery environment.

Margaretville Hospital has no outstanding debt with the Dormitory Authority.

For more information, contact Press Officer Claudia Hutton at (518) 257 3382, or CHutton@dasny.org.
To see the full text of Governor Pataki's press release on this event, go to http://www.state.ny.us/governor/press/year01/may9_01.htm.