Seven years after Miami-Dade’s public hospital network nearly went bankrupt, Jackson Health System reported a profit for the sixth year in a row on Wednesday — signaling a sustained financial turnaround for the $1.9-billion-a-year taxpayer-supported healthcare system.
Reporting to the Public Health Trust that governs Jackson Health, Chief Executive Carlos Migoya said the healthcare system of three hospitals, community clinics and physicians had recorded a $15 million budget surplus for the year ending Sept. 30.
“We did it despite major headwinds,” Migoya said of the budget surplus.
Among the obstacles that Migoya said Jackson Health faced this year: an estimated $10 million in costs for staffing and preparations for Hurricane Irma and other storms that threatened to strike Florida, and cuts to state and federal funding for hospitals to treat uninsured patients.
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Migoya said patient admissions to Jackson Health hospitals for 2017 rose 2 percent over the prior year, another positive sign.
But he warned that new construction, including a medical campus in Doral and a rehabilitation hospital in Miami’s Civic Center district, will require Jackson Health to maintain cash reserves at the same time that legislators in Tallahassee and Washington plan to squeeze hospital funding sources, such as Medicaid.