Miami-based Jackson Health System can boast a surplus for the third year in a row.
On Tuesday, the entity announced its year-end surplus for fiscal 2014 is estimated at $50.7 million, which is significantly greater than its budgeted surplus of $11.6 million. Last year's surplus was $51.6 million.
"Over the last year, we faced a more difficult and competitive healthcare market, we reinvested in personnel, technology and infrastructure, and we continued providing the highest quality care to the people of Miami-Dade County – all while remaining financially strong," Carlos A. Migoya, president and CEO of Jackson Health System, said in the news release. "There is no doubt that Jackson has turned a corner towards long term sustainability for future generations."
Operating surpluses at Jackson Memorial Hospital in Miami, Jackson North Medical Center in North Miami Beach, Fla., and Jackson South Community Hospital in Miami, as well as increased sales tax revenues from Miami-Dade County, and effective expense management, contributed to the health system's fiscal achievement, according to the news release.
Future endeavors at Jackson Health System include constructing a new rehabilitation hospital; launching an urgent care initiative; continued renovations in Jackson’s existing, aged facilities; and continued growth of specialized programs.