For the second straight year, executives at Jackson Health System in Miami are predicting the health system could be out of cash by the summer, according to a Miami Herald report.
JHS CFO Mark Knight projected that by July, the health system will have four days of cash on hand, and by August, the cash will be out, according to the report.
That estimate also does not factor in the possibility of state Medicaid cuts, which would go into effect July 1 if the state legislature approves the health program reductions. The Medicaid cuts could cost JHS an additional $200 million.
Last year, Gov. Rick Scott approved a one-time $35 million bailout to JHS with state funds. Executives said several system operations, such as union contracts and agreements with the University of Miami, need to be finalized to drastically change the health system's financial state.
JHS CFO Mark Knight projected that by July, the health system will have four days of cash on hand, and by August, the cash will be out, according to the report.
That estimate also does not factor in the possibility of state Medicaid cuts, which would go into effect July 1 if the state legislature approves the health program reductions. The Medicaid cuts could cost JHS an additional $200 million.
Last year, Gov. Rick Scott approved a one-time $35 million bailout to JHS with state funds. Executives said several system operations, such as union contracts and agreements with the University of Miami, need to be finalized to drastically change the health system's financial state.
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