Jackson Health closes fiscal year with 18 days of cash reserves
Jackson Health System finished its fiscal year on Sept. 30 with 18.1 days of cash on hand as it managed to survive its budget turmoil.
The amount of cash reserves doesn’t give it much wiggle room, but it was a significant improvement from March, when officials at Miami-Dade County’s public health system warned that it was headed toward insolvency by the end of the year. JHS underwent major budget cuts that eliminated more than 620 jobs.
Still, JHS reported a record $1.1 billion in cash from revenue in the fiscal year. Although its three hospitals saw fewer patients, it improved collections through better revenue cycle management, JHS said in a news release.
- Surgical Checklists Unused in 10% of Hospitals, CMS Data Shows
- As Medicare Advantage Cuts Loom, Disagreement Over Program's Stability
- Doctors Feel Pressure to Accept Risk-based Reimbursement
- 3 Insider Tips on Cutting Costs without Strangling Growth
- 4 Tectonic Shifts Shaking Up Healthcare
- A Fresh Look at End-of-Life Care
- Heart Attack Patient Costs Skyrocket Beyond 30 Days
- 3 in 4 Patients Want E-mail Consultations
- ACGME Chief Sees 'Huge' Risk of Error in Proposed Assistant Physician Licensure
- Roundtable: To Arrest HAIs, Culture Trumps Campaigns