The State Health Planning Board voted in favor of CarePoint Health converting to a nonprofit status earlier today, about 16 months after they announced such plans.
By John Heinis/Hudson County View
“Today’s decision by the State Health Planning Board will have a transformative impact not just on CarePoint Health, but on Hudson County and the surrounding region as a whole,” CarePoint President and CEO Dr. Achintya Moulick said in a statement.
“With our non-profit structure now fully in place, CarePoint Health will have access to critical financial support from the state and federal governments, as well as reduced costs and access to charitable fundraising contributions — all of which will make our hospitals stronger and more financially solvent.”
He also thanked everyone who backed this effort for their support.
The unanimous vote (6-0) doesn’t come as much of a surprise, given that electeds, medical professionals, and community leaders spoke in favor of the conversion at last month’s State Health Planning Board hearing.
Jersey City Mayor Steven Fulop and Bayonne Mayor Jimmy Davis both went to Trenton today to reiterate their feelings at today’s hearing.
CarePoint’s three hospitals, the Bayonne Medical Center, Hoboken University Medical Center, and Christ Hospital in Jersey City, care for a population that is 80 percent African American and Hispanic.
There are also a high percentage of uninsured and Medicaid patients, especially at Christ Hospital and Hoboken University Medical Center, where they make up approximately 60 percent of the current patients.
Additionally, the transition to nonprofit control opens up funding and grant opportunities that are also not available under for profit status.