Miami's Jackson Health System has recently received a great deal of coverage on its financial woes. One estimate puts this year's losses at $100 million, and at least one health system has sent a letter of intent to acquire Jackson. It would seem as if Jackson is in serious trouble.
However, Jackson's president and CEO Eneida O. Roldan, MD, MPH, MBA, provided a different impression when she spoke to Becker's Hospital Review. Although Dr. Roldan will leave her position in June, she expressed cautious optimism for Jackson's future. She outlined Jackson's progress and its strategies for further improvements.
Progress
University of Miami, Jackson Memorial Hospital was ranked first among 69 hospitals in the Miami-Fort Lauderdale metropolitan area by U.S. News & World Report. Jackson was recognized as a top performer despite financial losses.
Jackson reduced a loss of $244 million in fiscal year 2009 to a loss of $93 million in fiscal year 2010. Dr. Roldan says Jackson was able to achieve this turnaround by focusing on revenue cycle; billing and collections; length of stay; patient throughput; labor costs; and working with physicians and other stakeholders. She says, "In the midst of less revenue and challenges in reimbursement, we were able to keep costs down."
Despite efficiencies, Dr. Roldan says these measures are "not enough." What's needed, she suggests, is a "cultural transformation" in which people develop different attitudes towards healthcare. "It has definitely been a turnaround, but we are still facing a perfect storm," she says. For example, a proposed state budget may cut $200 million in funding for Jackson.
Strategies
As Jackson is confronted with a potential reversal of its progress, Dr. Roldan says, "We need to not only continue on these initiatives, but more importantly, focus on a more global aspect of what the economic model will be." She suggests ways Jackson can grow stronger:
1. Change the delivery of care to a primary care strategy.
2. Operate as a private entity while maintaining a public mission by creating a patient-centric model.
3. Break down silos to allow for integration and efficiency.
Learn more about Jackson Health System.
However, Jackson's president and CEO Eneida O. Roldan, MD, MPH, MBA, provided a different impression when she spoke to Becker's Hospital Review. Although Dr. Roldan will leave her position in June, she expressed cautious optimism for Jackson's future. She outlined Jackson's progress and its strategies for further improvements.
Progress
University of Miami, Jackson Memorial Hospital was ranked first among 69 hospitals in the Miami-Fort Lauderdale metropolitan area by U.S. News & World Report. Jackson was recognized as a top performer despite financial losses.
Jackson reduced a loss of $244 million in fiscal year 2009 to a loss of $93 million in fiscal year 2010. Dr. Roldan says Jackson was able to achieve this turnaround by focusing on revenue cycle; billing and collections; length of stay; patient throughput; labor costs; and working with physicians and other stakeholders. She says, "In the midst of less revenue and challenges in reimbursement, we were able to keep costs down."
Despite efficiencies, Dr. Roldan says these measures are "not enough." What's needed, she suggests, is a "cultural transformation" in which people develop different attitudes towards healthcare. "It has definitely been a turnaround, but we are still facing a perfect storm," she says. For example, a proposed state budget may cut $200 million in funding for Jackson.
Strategies
As Jackson is confronted with a potential reversal of its progress, Dr. Roldan says, "We need to not only continue on these initiatives, but more importantly, focus on a more global aspect of what the economic model will be." She suggests ways Jackson can grow stronger:
1. Change the delivery of care to a primary care strategy.
2. Operate as a private entity while maintaining a public mission by creating a patient-centric model.
3. Break down silos to allow for integration and efficiency.
Learn more about Jackson Health System.