RICHMOND HILL - New beds, more surgeries, and lower wait times are being targeted with a $667.2 million funding boost for Ontario hospitals - a 4.9 per cent increase over last year.

This investment includes increases in base funding to all hospitals as well as $295 million in targeted funding to help Ontario hospitals deliver shorter wait times and improved access to quality health care.

The $295 million investment includes :

• Funding to help increase access to hospital services in Ontario's fastest growing communities
• New or expanded services, including additional beds, in newly renovated or developed hospitals
• Continued funding for surgeries, MRI and CT scans as part of Ontario's Wait Time Strategy
• Sustaining services in communities with unique needs, such as geographic isolation and a smaller population base

An additional $170 million will be allocated to hospitals later in 2008-09, making the overall increase 6.1 per cent for this fiscal year. Emergency Room wait time reductions will be a target of these resources.

Today's announcement marks the earliest-ever detailed allocation of hospital funding, allowing hospitals and Local Health Integration Networks to know how much money that they can count on for the year.