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$8.8M funding helps QHC clear debt

QHC CEO Stacey Daub with Bay of Quinte MPP Todd Smith.

Quinte Health Care (QHC) will receive an additional $8,816,000 from the provincial government to help cover historic working funds deficits.

Announcing the funding, Todd Smith, MPP for Bay of Quinte, and Daryl Kramp, MPP for Hastings-Lennox and Addington, noted that despite underfunding for years, the multi-site QHC has continued to everything possible to provide the highest quality care.

“This investment will wipe out QHC’s debt and set them on a solid financial footing moving forward,” stated Smith.

Kramp added the funds will help QHC to have the stability and resources needed to maintain and enhance patient care as it emerges from this pandemic.

The new funding is in addition to the more than $5.8-million increase to QHC’s base and one-time operational funding that Smith announced in Bancroft in July.

The funding is part of up a commitment of up to $696.6 million across the province to address historic working funds deficits in a $1.2-billion strategy to help Ontario hospitals recover from financial pressures created and worsened by COVID-19.

Stacey Daub, QHC’s President and Chief Executive Officer, said the funding injection shores up the working capital de3ficit and improves QHC’s cash position.

“Working capital deficits has been a systemic issue for hospitals like QHC for several years. It’s reassuring that the government has listened and is making this important investment in the stability of QHC and community-based hospitals across the province.”

A working funds deficit occurs when an organization’s current liabilities exceed their current assets. All hospitals that had a working funds deficit in 2019-20 qualified for this funding.

Filed Under: Local News

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  1. Mark says:

    Huge funding announcement today for Quinte Region long term care homes. Doug cares and is working.

  2. SS says:

    Frankly, it would be nice to see people talking about responsibility for the future, starting now.

    The Ford government is in charge, at the moment.

    It would be interesting to see what the Ford government (all of the cabinet ministers and the premier, not just Doug Ford) thinks the priorities are, going forward.

    Here is the actual most recent Throne speech from this government:

    The majority of the text of this seems to be talking about what has been done in the past.

    I tried fairly hard to find specifics about what is planned to be done going forward, in concrete terms.

    It does not seem like very much, unless I’m missing something. And it all seems wrapped up in economic terms, with economics being the government’s interpretation of economics.

    I suggest that people read the actual speech and not the sound bites from the media, And then draw your own conclusions about what to expect from the future.

  3. Fred says:

    Utter nonsense to lay long term care failures on Doug.Every government for years could not touch the cost to taxpayers to repair the system. And bigger to that is finding workers for that type of job.

  4. ADJ says:

    Admit it….good and bad on both sides…find something else to argue/”discuss” about” it’s done, it’s over, past history,,,Move on.

  5. Dennis Fox says:

    Rather than getting into a banter back and forth, here is an article that outlines some of Ford’s serious mistakes – prior to the pandemic. If we included those after COVID hit, it would take more time and space than anyone has – but it does explain why Ontario had such a high rate of deaths in our Long Term Care homes and the danger our kids have been placed in at their schools.

  6. Mark says:

    And how has this government screwed up royally in comparison to Wynnes government that cost taxpayers billions for a folly energy program that we will be paying for many years. Doug is honest and cares, something to be said for that.

  7. Dennis Fox says:

    Why refer to a previous government at all – when the current provincial one has screwed things up royally?

  8. Bruce Nicholson says:

    Mike Harris? Why must liberals always refer back to a premier who left office in 2002 ? Quinte Healthcare has not carried their deficit almost 20 years.

  9. Dennis Fox says:

    Now let’s be really honest here, the government prior to Wynne/McGuinty cut the healthcare system to the point where Ontario lost 10,000 nurses, hospitals closed and doctors started heading south to a more promising career. The same Conservative government, under Mike Harris also cut education funding to the point that teachers across the province walked off the job for two weeks! Now we can also talk about the cuts to social services and lets not forget the cuts to the Ministry of the Environment – and of course the results of that were the deregulation of environmental protections and Walkerton. Yes, I agree let’s place the responsibility where it belongs. Now the Ford government has been in power now for over 3 years – can anyone tell me why the QHC had an $8 million debt in the first place – or is this just more pre-election grandstanding with taxpayers money?

  10. Bruce Nicholson says:

    Let’s be honest here.
    The Wynne/McGuinty provincial liberal governments cut healthcare funding during their tenure running the province.
    This award is a recognition by the current government that additional funding to offset deficits was badly needed.
    Let’s give credit where credit is due !

  11. Steve Staniek says:

    This is not a gift folks. Ford’s provincial government owes this County huge back payments for the debt they created for us, and “downloaded” to us, like people who use your credit card but never pay back the debt they incur. Here are just a few provincial financial disasters that we pay for:
    1)The disastrously costly County Road 49, and the unsafe Skyway Bridge that puts County families at undue risk.
    2) the lack of adequate local hospital facilities and services,
    3) and the biggest financial disaster in recent years, the mismanagement of the COVID pandemic, and the completely unnecessary shutdown of our economy because Ontario Public Health has failed to comprehend the effective protection of a universal “face mask only” policy. Just look at how Alberta’s converstatives are killing Alberatans with COVID incompetence, by refusing to protect them with a universal face mask policy. Quebec is just as badly confused about face mask protection. Are they all just pain stupid, or are governments playing toxic politics?

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