A BILL TO BE ENTITLED
AN ACT TO APPROPRIATE FUNDS TO WAKEMEd health & hospitals, inc., FOR PLANNING AND IMPLEMENTATION OF THE WAKEMED BIOMEDICAL ALLIANCE.
Whereas, WakeMed Health & Hospitals, Inc., is a multihospital, private, nonprofit teaching and tertiary health care system based in Wake County; and
Whereas, WakeMed's emergency departments handled more than 147,000 visits in 2003; and
Whereas, WakeMed's heart program leads the State in number of procedures; and
Whereas, WakeMed is virtually the sole provider in Wake County of hospital services for the medically underserved population; and
Whereas, WakeMed's annual contribution in free care is over $68,000,000 in addition to bad debt and what is written off for contractual adjustments for Medicare and Medicaid; and
Whereas, with over 6,000 employees, WakeMed is the third largest private employer in the Research Triangle Area; and
Whereas, WakeMed's medical staff includes nearly 900 physicians, representing all medical and surgical specialties, and is the largest off‑site teaching program for UNC‑Chapel Hill; and
Whereas, WakeMed is positioned to expand services and stimulate economic growth in health care delivery, information technology, and biomedical research and development; and
Whereas, the WakeMed Biomedical Alliance will support biomedical research by accelerating the migration of innovative ideas, products, and devices into health care settings; and
Whereas, WakeMed Biomedical Alliance will align itself with university systems, the business community, and government entities; and
Whereas, funding from the State will provide immediate job creation and create efficient and improved delivery of health care services through an integrated system; Now, therefore,
The General Assembly of North Carolina enacts:
SECTION 1.  There is appropriated from the General Fund to WakeMed Health & Hospitals, Inc., the sum of four hundred thousand dollars ($400,000) for the 2004‑2005 fiscal year for the planning and implementation of the WakeMed Biomedical Alliance. 
SECTION 2.  This act becomes effective July 1, 2004.