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.
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