Jackson was close to financial collapse when Mr. Migoya began work at the helm in May 2011. The system had lost $419 million over three years. But after Mr. Migoya’s first full year, Jackson turned out an $8.2 million surplus in the fiscal year that ended Sept. 30, according to the report.
Mr. Migoya’s contract renewal must be approved by Miami-Dade county commissioners. He will not receive a raise in his $590,000 annual base salary, but he will receive an increase in benefits, which will amount to $142,500 plus possible bonuses of $295,000.
Mr. Migoya donated his $160,000 bonus for 2012 to the Jackson Memorial Foundation. The funds will be set aside for the renovation of labor and delivery rooms at Jackson Women’s Hospital.
The donation was the result of a one-year-old promise Mr. Migoya made: If Jackson saved money through its layoff plan that eliminated the jobs of more than 1,000 employees, he would donate his entire bonus.
The county commissioners are scheduled to meet May 7.
More Articles on Carlos Migoya:
CEO of Miami’s Jackson Health Will Forgo Bonus if Layoff Plan Saves Money
Jackson Health CEO Carlos Migoya Donates $160k Bonus
7 Hospital and Health System CEOs: What Disruptive Innovation Means to Me
At Becker's 4th Annual CEO + CFO Roundtable, taking place November 2–5 in Chicago, more than 1,500 hospital and health system executives tackle decisions that determine whether organizations thrive or merely survive: protecting margins under cost pressure, choosing where to grow, renegotiating payer relationships, stabilizing the workforce and proving real ROI on technology. This is where leaders work through them together, face-to-face. Apply for complimentary registration now.