It's hard for me to imagine that this Artists Access Program saves the hospital money, but it's been going on since 2005, so clearly it's working out well enough. And while it's easy to see this as a charity program for artists, there's probably a significant (if hard to quanitify) benefit to patients.
Incidentally, it seems that Woodhull has had a relationship with the creative community for a while. In 1986, Kieth Haring
painted a mural in the hospital to recognize it for its pediatric AIDS research.