In a memo to board members and local officials, Jackson CEO Carlos Migoya said the health system’s financial status is still serious, but it “is no longer a crisis,” according to the report.
Joshua Nemzoff, a hospital consultant, believes Jackson still has a long way to go to prove its fiscal stability. “Ten days cash on hand is not a crisis? There is not another hospital CEO in America that would think having 10 days of cash on hand is not a crisis. Wow,” Mr. Nemzoff said in the report.
Over the past three months, Jackson has recorded a cumulative profit of $8 million, but for the first eight months of the fiscal year, Jackson is still in the red by $19.2 million. In February, Jackson cut 1,115 jobs to save $69 million per year.
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