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Treasurer says Miami's Jackson Health faces fiscal train wreck

The Miami Herald, February 15, 2011

The grim news that Jackson Health System lost another $11.1 million in December and has a dwindling supply of cash to meet its payroll prompted Marcos Lapciuc, treasurer of the Public Health Trust that oversees Jackson, to warn Monday that "there's a train at 200 mph heading straight at us." The latest information on Jackson's financial health came as Jackson executives prepared for Thursday's annual meeting with the Miami-Dade County Commission to explain where the health system stands and what its future may hold. Jackson presently gets about $335 million a year from sales and property taxes. Commissioners have said repeatedly in recent weeks that the county can't give Jackson anything more. The system's main problem continues to be a decline in patient admissions, Jackson executives said during a meeting of the Trust's fiscal committee Monday, although preliminary estimates for January show an increase in admissions.

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