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Cayuga Health Says Organization Has Annual Economic Impact of $675 Million


Cayuga Health says the organization’s local economic impact continues to grow in a recent release. The organization says population health has remained their focus of organization despite reimbursement issues with Medicaid and Medicare.

A recent report by Healthcare Association of New York State (HANYS), says Cayuga Health had an annual impact of $675 million dollars on economic activity for the counties Cayuga Health serves, including Cortland County. The number released is an 8% increase from the HANYS report from January 2023.

The annual report by HANYS highlights the role healthcare facilities have within their local economics. The report showed Cayuga Health generates hundreds of millions of dollars through the purchase of goods and services and jobs.

In 2023, Cayuga Health invested over $117 million dollars for community benefits. This included charitable care provided to those in need such as subsidized care and services to low-income, elderly and underserved communities.

“Providing the health services that are critical to communities is a responsibility that Cayuga Health does not take lightly,” states Dr. Martin Stallone, CEO for 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.”

The report also found Cayuga Health still faces the financial pressures rural hospitals deal with in the state. HANYS said “43% of hospital patient service revenue comes from Medicare and Medicaid, which do not cover the cost of care, driving significant underpayment from these public insurance programs.”

“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.” Rebecca Gould, Chief Financial Officer said in a release.

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