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This week I am focusing on the Ontario Government’s funding announcement for hospitals and how this applies to us here at UHN. I know many of you are aware that UHN is scheduled to receive slightly over $29 million in additional funding in 2017-18. This additional funding is certainly welcome and we have reviewed the detailed information provided by the Ministry of Health and Long Term-Care (MOHLTC) to understand the impact on UHN. I have summarized the allocation below:
We know some groups or individuals may have thought that ‘$29 million means that we may be able to stop doing work from the operational review’ or ‘there is new money that can be used to expand this unit or our program’. However, neither of these statements is true. While the $29 million is an improvement over years past, this only partially offsets the financial impacts that we are seeing because of increases in volumes of patients, drug costs, salaries, our utilities, and the investments needed to maintain our facilities. As a values-based organization, we are committed to our core value of stewardship. This will enable us to respond to our patients’ needs, invest in our infrastructure, and have funds available to deal with financial pressures. Our Senior Management Team will continue to work with our colleagues around the province, the Ontario Hospital Association, and our provincial government to demonstrate the continued need to support Ontario’s hospitals. We will need everyone’s support to steward our resources wisely, so that we may achieve our financial target in 2017-18, while setting the organization up for future success. I know we are a resilient organization and we can do this together.Peterwww.renewinguhn.ca