Miami-based Jackson Health System plans to cut funds it provides to the University of Miami medical school and compensation for union workers to try and offset losses of $400 million over the past three years, according to a Miami Herald report.
The report said JHS hopes to find $170 million in salary and benefits savings from labor and plans to reduce the UM medical school budget by $52 million.
CFO Mark Knight estimates the health system will lose roughly $90 million this fiscal year, which ends Sept. 30. The hospital hopes to break even for the FY2012 without laying off any of its employees or cutting any services.
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The report said JHS hopes to find $170 million in salary and benefits savings from labor and plans to reduce the UM medical school budget by $52 million.
CFO Mark Knight estimates the health system will lose roughly $90 million this fiscal year, which ends Sept. 30. The hospital hopes to break even for the FY2012 without laying off any of its employees or cutting any services.
Related Articles on Hospital Cuts:
Automatic Cuts From Debt Committee's Failure Put 194k Healthcare Jobs on the LineRevenue at Washington's Olympic Medical Center Down by 18%
Budget Cuts May Impede Public Reporting of Hospital Quality in New York
http://www.miamiherald.com/2011/09/07/2395252/jackson-health-system-budget-slashes.html