Miami-based Jackson Health System, which nearly went bankrupt seven years ago, posted a profit for the sixth consecutive year Wednesday, indicating a maintained financial turnaround for the heavily taxpayer-supported health system, according to the Miami Herald.
The $1.9 billion-per-year taxpayer supported system posted a $15 million budget surplus in fiscal year 2017.
"We did [the surplus] despite major headwinds," Carlos Migoya, Jackson Health System's CEO told the Miami Herald.
This year Jackson Health System — composed of six hospitals, 12 specialty care centers and two long-term care centers and health clinics — faced obstacles such as $10 million in costs for staffing and preparations for Hurricane Irma and cuts to state and federal funding for charity care.
While the health system saw a profit and increased patient volume in the latest fiscal year, Mr. Migoya warned that Jackson Health will need to maintain cash reserves to fund new construction projects as state lawmakers consider legislation to reduce hospital funding.