(a) The commission shall establish an innovation grant program to provide support to rural hospitals, rural hospital districts, and rural hospital authorities that undertake initiatives:
(1) to provide access to health care and improve the quality of health care provided to residents of a rural county;
(2) that are likely to improve the financial stability of the grant recipient; and
(3) that are estimated to become sustainable and be maintained without additional state funding after the award of a grant under this section.
(b) In awarding grants under this section, the office shall prioritize initiatives focused on improving health care facilities or services for:
(1) women who are pregnant or recently gave birth;
(2) individuals under the age of 20;
(3) older adults residing in a rural county; or
(4) individuals who are uninsured.