Cayuga Health had an annual impact of $675M on economic activity on the counties the health system serves, based on a recent report released by the Healthcare Association of New York State (HANYS). This is an 8% increase from HANYS report of January 2023.
HANYS’ annual report highlights the critical role that healthcare facilities have in the local economies, revealing that Cayuga Health generates hundreds of millions of dollars through the purchase of goods and services and jobs. Cayuga Medical Center in Ithaca is the second largest employer in Tompkins County; Schuyler Hospital in Montour Falls in the largest employer in Schuyler County. The two hospitals generate over 3,500 local jobs.
In addition, Cayuga Health invested over $117M in community benefits in 2023, including charitable care provided to people in need; subsidized care and services to low-income, elderly and under-served communities; and continuous investment in many community health initiatives.
“Providing the health services that are critical to communities is a responsibility that Cayuga Health does not take lightly,” states Dr. Martin Stallone, CEO of Cayuga Health. “Not only do we strive to provide the highest quality of care to our patients, but it is also important to us to give back to our communities in order to help address various social determinants of health.”
Cayuga Health’s integrated community focus was recently recognized for a new screening process for social needs and connecting qualified patients to local resources through a close-loop referral process. More than 15,000 patients have been screened through this program so far.
But Cayuga Health isn’t immune to the financial pressures felt by rural hospitals across New York State. HANYS also reported, “43% of hospital patient service revenue [for Cayuga Health System] comes from Medicare and Medicaid, which do not cover the cost of care, driving significant underpayment from these public insurance programs.” This long-standing issue continues to challenge rural health systems, like Cayuga Health.
Rebecca Gould, Chief Financial Officer, stated, “While the state Medicaid rate was increased last year, there is still a significant gap between this first step and sustainable healthcare operations for upstate healthcare systems that are vital to the residents of our communities and foundational to our local economies.” Cayuga Health is in active dialogue with lawmakers as they collaborate to find solutions to ensure the continuation of quality healthcare in local communities.
