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Jackson Hospital gains $12M from annual budget

Miami Times staff report | 7/31/2014, 9 a.m.

The Public Health Trust Board of Trustees, Jackson’s governing board, unanimously approved the health system’s $1.6 billion budget Monday, July 28, during a public hearing. The budget, which now moves to the Miami-Dade Board of County Commissioners for consideration in September, includes leaves a surplus of approximately $12 million next year.

“Over the last four years, Jackson has made tremendous progress in rebuilding its longstanding reputation of excellence in our community, and we still have a long way to go,” said Carlos A. Migoya, president and CEO of Jackson Health System. “Its success can be attributed to the total dedication of so many stakeholders across our community, most of all Jackson’s army of dedicated employees who have continued to work hard while making sacrifices.”

In 2011, after several years of losses that threatened to close Jackson, Jackson began its financial turnaround. Since then, the health system has realized consistent budget surpluses – $8.2 million in 2012 and $51.5 million in 2013. Jackson remains on target to exceed its projected surplus of $11 million for the current fiscal year.

The projected $12 million surplus for FY 2014-15 will allow Jackson to reinvest in its employees and future growth to complement the Jackson Miracle-Building Bond, approved by Miami-Dade voters in November 2013.