Hope For NYC Hospitals Rises With $8B Medicaid Waiver Deal

Law360, New York (February 14, 2014, 6:23 PM EST) -- New York state reached a deal with the federal government Thursday night to push $8 billion in Medicaid savings into reforming its health care delivery system, potentially keeping several bankrupt or insolvent hospitals operating, with New York City Mayor Bill de Blasio hailing the accord as "long-overdue good news."

The breakthrough between the state and the Obama administration came some 18 months after Gov. Andrew Cuomo first announced the state's application for the so-called Medicaid 1115 waiver on Aug. 6, 2012, and said he hoped it...
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