The system has said that if and when the system reaches 20 days of cash on hand, it will declare financial emergency.
Jackson Health’s CFO Frank Barrett expects the days of cash on hand to dip as low as 2.4 days during the summer of 2010 even after planned cost cutting measures including the closing of two nursing homes and two primary care clinics, according to the report.
In response, the health system is encouraging employees to implement ideas to cut costs and increase revenue.
Jackson Health projected losses of $168 million for the year in June, before CEO Eneida Roldan took over the system. Ms. Roldan reduced the losses by $62 million but the system will likely lose more than $100 million for the year.
Read the Miami Herald’s report on Jackson Health System.
