Reports are that Ontario is currently busy preparing for a drastic change to hospital funding, with the aim to take care of health costs by revising hospital budgets in order to effectively match the size and age of their communities.

If successful, chances are that the new formula could quickly spread to other provinces as well, and it would also provide more funds to hospitals for the treatment of patients in a better way, as has been shared by some sources.

Governments all across Canada are now facing aging population, which is bound to drive the health costs up. On Ontario, the pressure is particularly acute, where health care ends up consumes about 42 cents of every Dollar shelled out in program spending.

Ontario is currently also struggling with a record deficit of $24.7 Billion.

With the new approach, the province would be able to do away with the global hospital budgets that have been allocating funds for over a decade.

"It's hugely controversial because there could be winners and losers", a hospital authority said.