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Miami's Jackson Health System, once near bankruptcy, ends year with $45 million surplus

@dchangmiami

On the heels of a landslide Election Day victory that will send $830 million in taxpayer funds to Jackson Health System for upgrades and new facilities, administrators announced this week that Miami-Dade’s public hospital network closed the year ending Sept. 30 with an unaudited but better-than-expected budget surplus of more than $45 million.

The positive financial finish marks the second consecutive year that Jackson has earned a surplus after an era of hemorrhaging cash, to the tune of about $419 million from 2008 to 2011.

“Like we said, we expected to have a strong year in 2013,’’ Chief Executive Carlos Migoya said Thursday at a meeting of the Public Health Trust that runs Jackson. “This proves the case.’’

But there are challenges ahead for the taxpayer-owned hospital system, Migoya and others acknowledged.

For the coming year, Jackson administrators have projected a smaller surplus of about $11 million — and that depends on the outcome of a Dec. 5 impasse hearing by the Miami-Dade County Commission, which is expected to decide whether Jackson’s estimated 10,000 employees will continue to contribute 5 percent of their base pay toward group healthcare costs.

More here.

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