The State Government of New York in the US has announced a multi-year investment of $10bn in the state’s healthcare sector as part of the 2022 State of the State plan.

The investment, which is said to be the largest in the state’s history, aims to rebuild as well as support the growth of the healthcare workforce and strengthen the system.

Under this plan, $4bn will be allocated for healthcare workers’ wages and bonuses and for investing in the healthcare workforce development pipeline to meet the demand for medical professionals.

The multi-year investment will see allocation of $2bn to support healthcare wages and another $2bn for bonuses to retain healthcare and mental hygiene workers.

Additionally, the government plans to invest $2bn for healthcare capital infrastructure and improved lab capacity, $500m for Cost of Living Adjustments to increase wages for human services workers.

Other investments are planned in workforce and healthcare access and delivery.

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By GlobalData

New York Governor Kathy Hochul said: “From the very beginning of the pandemic, New York’s healthcare workers have been on the front lines.

“We must stop the current hemorrhaging of healthcare workers, and we need to not just say we owe them a debt of gratitude, but actually pay them the debt we owe. The health of every New Yorker depends on a strong, stable, and equitable healthcare system, and healthcare workers are its very foundation.

“With the largest ever investment in healthcare, we will retain, rebuild, and grow our healthcare workforce and ensure we deliver the highest quality healthcare for New Yorkers.”

Hochul also intends to improve the career pipeline of healthcare workforce, expand access to healthcare training and education, appoint care workers in underserved areas and strengthen home care.