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Miami-based Jackson Health System is bleeding red ink

Miami Herald, February 3, 2010

Executives from Miami-based Jackson Health System said the public hospital system lost four times as much as originally thought in 2009, and this year's expected loss is nearly triple earlier projections. The loss for fiscal 2009, which ended Sept. 30, mushroomed from $46.8 million to $203.8 million. The projected loss for 2010 has ballooned from an $87 million estimate made in January 2010 to $229 million. With the system losing $14 million a month, it will have no cash in the bank to pay bills in seven months unless drastic steps are taken, the Miami Herald reports.