The scheme, which allows patients to reclaim costs for treatments in the Republic of Ireland, has come under fire from opponents who claim it will create a two-tier system.
A second phase of the scheme in a date to be confirmed will offer reimbursements for operations carried out in the European Union.
Minister Nesbitt said: ‘This £10m investment is an important step in addressing the serious challenges posed by long hospital waiting lists.
‘As I outlined to the assembly, this scheme is part of a much wider package of initiatives to reduce backlogs and deliver better outcomes for patients. It gives those who have waited two years or more the opportunity to seek treatment privately with the reassurance that costs will be reimbursed up to the HSC equivalent rate.
‘I will continue to bring forward further measures to ensure patients across Northern Ireland get the care they need more quickly.'