As part of its strategic efforts to revitalize The University of Toledo Medical Center, the hospital has received approval from the Centers for Medicare and Medicaid Services (CMS) on an initiative that will generate important additional revenue to support the high-quality patient care provided to our region.
UTMC’s application to receive a higher reimbursement rate from Medicaid that has been approved by CMS will generate an additional $25 million in funding to the hospital. The funding will be matched by $9.7 million from the state and UTMC. Going forward the hospital could receive this funding on an annual basis.
UToledo President Gregory Postel proposed the opportunity to the UToledo Board of Trustees shortly after he joined the University in July 2020, having implemented a similar program at a previous institution, and the University has been working closely with the Ohio Department of Medicaid and elected officials since to bring this to fruition.
“I want to thank the leaders that helped make this major financial opportunity possible for UTMC and The University of Toledo,” Postel said. “Governor Mike DeWine’s support was instrumental, along with Ohio Department of Medicaid Director Maureen Corcoran and her team. I also need to recognize the support of Congresswoman Marcy Kaptur and our local state delegation who included an amendment to support this proposal in the state biennium budget and voted to pass that budget, providing the necessary state approval for the application. Thank you for your support of UTMC and our patients, physicians and staff.”
“Today will go down in history as the day we helped secure the future of The University of Toledo Medical Center,” Kaptur said. “UTMC is a foundational pillar of our region. Every day, countless hospital staff, doctors, nurses, professors, and students mask up and show up to deliver the life-sustaining and lifesaving care our community needs, particularly those who are most underserved. As well, UTMC is an economic driver – leading the way on groundbreaking federal research to enhance the health and well-being of all Americans. Stabilizing and strengthening this institution – one of only two wholly public academic centers in Ohio – has been one of my most important undertakings. I am especially grateful for the leadership of Dr. Gregory Postel and Governor Mike DeWine, and to CMS Administrator Chiquita Brooks-LaSure for answering Northwest Ohio’s plea for critical federal assistance. Together, advocates and stakeholders from every walk of life banded together to protect and uplift UTMC for the benefit of all.”
“UTMC is a vital partner in improving the overall health and well-being of those living in northwest Ohio and plays a critical role in advancing quality care,” DeWine said. “This quality initiative will advance care and lead to healthier Ohioans.”