PCDC Press Release, 2/4/10.
Press Contact:
Michelle Shaljian
(212) 437-3933
mshaljian@pcdcny.org
Click here to download PDF version.
February 4, 2010 (New York, NY) The Primary Care Development Corporation (PCDC) announced today that it has closed short-term bridge loans to help accelerate two state funded health information projects; PCDC provided $450,000 to the New York e-Health Collaborative (NYeC) and $150,000 for the Continuum of Care Improvement Through Information New York (CCITI NY). The organizations are recipients of $40 million in New York HEAL grants and the bridge loans will allow them to conduct critical work as they await full funding from the State.
"PCDC is excited to be working with NYeC and CCITI NY to advance New York's health IT priorities," said Ronda Kotelchuck, PCDC's Executive Director. "PCDC is committed to expanding access to quality, patient-centered, coordinated primary care throughout New York State, and NYeC and CCITI NY are leading extraordinary efforts to coordinate the successful implementation of health IT, which are critical to achieving reforms that will improve health outcomes and slow healthcare spending."
NYeC was founded by health care leaders across the state, with leadership and support from the New York State Department of Health, as a public-private partnership that serves as a focal point for health care stakeholders to build consensus on state health IT policy priorities, and collaborate on state and regional health IT implementation efforts.
"The financing that PCDC is providing will expedite our work to galvanize improvements in the healthcare system by promoting broad use of health information technology and developing a statewide health information network" said David L. Whitlinger, Executive Director, NYeC. "PCDC is not just a lender, but a partner who shares our mission of expanding access to quality health care throughout New York State."
CCITI was founded in 2008 to serve as a community-wide data exchange system across the continuum of health care providers to improve healthcare quality, safety, and spending in the Greater New York area. CCITI's work is specifically designed to give providers accurate and coordinated patient information, to ensure that hospital or nursing home patients avoid costly and unnecessary readmissions.
"PCDC financing is critical to moving this important project forward," said Jay Gormley, Co-Chair of CCITI NY. "This project will ultimately coordinate exchange of information among more than 70 providers including hospitals, long-term care facilities, and primary care providers serving thousands of elderly and disabled patients."
About Primary Care Development Corporation (PCDC, www.pcdcny.org) PCDC is the nation's first and largest Community Development Financial Institution (CDFI) specifically investing in primary care (and the only one in New York State). To date, PCDC's programs have leveraged a total investment of $250 million for more than 75 primary care capital projects in underserved communities across New York State. This investment has transformed 630,000 sq. feet of space, while creating 1,300 construction jobs and 2,200 permanent jobs (approximately 4,400 including multipliers). This additional capacity now accommodates an additional 1.7 million medical visits annually by 550,000 underserved New Yorkers.
