By Allison Jones Ontario hospitals have already started making some “lower risk” cuts in the face of rising deficits, but those alone won’t alleviate hospitals’ financial strain, the head of their association says, warning there are no easy choices left. The Ontario Hospital Association has told the provincial government in its submission ahead of the spring budget that the sector faces a structural deficit of $1 billion and needs not just more money this year but a predictable, multi-year funding plan. “Worryingly, our financial reserves \u2014 also called working capital \u2014 which are really intended to be for long-term, capital-related expenses like medical and diagnostic equipment or refurbishing and rebuilding hospitals … those working capital dollars are being used to actually pay for operating expenses, and that is a sign… <\/p>\n
By Allison Jones Ontario hospitals have already started making some “lower risk” cuts in the face of rising deficits, but those alone won’t alleviate hospitals’ financial strain, the head of their association says, warning there are no easy choices left. The Ontario Hospital Association has told the provincial government in its submission ahead of the spring budget that the sector faces a structural deficit of $1 billion and needs not just more money this year but a predictable, multi-year funding plan. “Worryingly, our financial reserves \u2014 also called working capital \u2014 which are really intended to be for long-term, capital-related expenses like medical and diagnostic equipment or refurbishing and rebuilding hospitals … those working capital dollars are being used to actually pay for operating expenses, and that is a sign... <\/p>\n