Unexpected revenues help Jackson Health System

 

An unexpected bump in Miami-Dade sales tax receipts, and a one-time capital reimbursement from a prior year’s bond program helped even out a rocky financial month for Jackson Health System, which experiencd lower-than-projected patient admissions and slight increases in labor and other costs in March, according to executives at the public hospital network.

Mark Knight, chief financial officer for Jackson, reported Thursday that March was “kind of a mixed bucket of a month.’’ Patient admissions are about 4 percent behind projections, and length of stay has been flat. But the mix of patients has improved, with fewer uninsured.

Jackson’s estimated $1.5 billion annual operating budget also must absorb the end of a 5 percent contribution that employees were making toward their health insurance, creating an additional expense of about $2 million a month.

But a $500,000 spike in sales tax revenues for March, a $300,000 contribution from the nonprofit Jackson Memorial Foundation and other non-recurring revenues helped even out the ledger.

“If you look at just net gains from operations, we’re behind budget for the month and year to date,’’ Knight said. “But we’re picking up that shortfall in our non-operating revenues.’’

For the six months ended March 31, Knight said, Jackson is running a surplus of about $8.8 million, compared to a budget forecast of $3.1 million.

— DANIEL CHANG

Read more Miami-Dade stories from the Miami Herald

Miami Herald

Join the
Discussion

The Miami Herald is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

The Miami Herald uses Facebook's commenting system. You need to log in with a Facebook account in order to comment. If you have questions about commenting with your Facebook account, click here.

Have a news tip? You can send it anonymously. Click here to send us your tip - or - consider joining the Public Insight Network and become a source for The Miami Herald and el Nuevo Herald.

Hide Comments

This affects comments on all stories.

Cancel OK

  • Marketplace

Today's Circulars

  • Quick Job Search

Enter Keyword(s) Enter City Select a State Select a Category