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February 08, 2006
New York Health Care Industry Says It Faces $1.2 Billion in Cutbacks Under Bush Plan
The Medicare cutbacks that President Bush proposed this week would eventually wring $1.2 billion a year from New York's troubled health care industry, cuts that would come as the state is already losing hospitals to wrenching changes in health care, industry officials said on Tuesday.
Health care spending is one of the driving engines of the economy of New York, which has some of the nation's premier teaching hospitals. But as Medicare and Medicaid costs have risen in recent years, federal and state officials have tried to rein in these costs, putting pressure on the local health care industry and helping result in the closings of several smaller hospitals.
Representatives of New York's health care industry say that the latest cutbacks, proposed in the budget that the president sent Congress on Monday, would force hospitals, nursing homes and home care providers to reduce services for elderly and disabled residents of the state.
Posted by Michelle at February 8, 2006 06:39 PM