N.Y. Comp. Codes R. & Regs. tit. 10, § 705.7 – Application review process.

(a) Applications will be subject to full review, consistent with the requirements of Part 710 of this Subchapter, affording the State Hospital Review and Planning Council an opportunity to submit its recommendations prior to a decision by the commissioner. The commissioner shall approve a limited number of applications sufficient to evaluate any identified innovation in medical technology.
(b) Notwithstanding section 600.9(c) of this Title, in the case of an application for a new medical technology and health services demonstration project where the portion of the total project cost which is directly related to the new medical technology or health service exceeds $100 million, the commissioner may approve the use of innovative forms of financing, provided that:
1. (1) sufficient or affordable financing is not available from more traditional sources; and
2. (2) the new medical technology or health service has the potential to substantially improve treatment for one or more life threatening medical conditions, based on scientific evidence;
3. (3) the project will provide access to the medical technology or health service for underserved populations, including Medicaid beneficiaries and uninsured individuals.