Marcos Lapciuc works to get Jackson Health into the black as he chairs the health system's Financial Recovery Board
As Jackson Health System continues to face tough economic times and declining patient volumes, Marcos Lapciuc, head of the hospital's Financial Recovery Board, is working to ensure Jackson breaks even despite monetary setbacks.
"Cash on hand continues to be a concern," he said. "First and most important, we are looking to try to break even this year. Officially we're still predicting a small loss, but we are somewhat optimistic that we may come to break even."
But while cash on hand continues to concern Jackson's financial officials, Mr. Lapciuc said that the hospital expects patient volumes to stabilize as the economy improves.
"Our patient volume has deteriorated over the last two or three years as a result of the economy and fierce competition," he said, later adding, "We're looking at volumes to stabilize and, hopefully, most of the cuts that we feel are necessary will be based upon growth."
According to Jackson's latest financial report, while admissions have remained below budget, they appear to have improved in recent months.
About 5,224 patients walked through Jackson's doors in March, slightly below the budgeted 5,722. This is up from February, when 4,896 people used Jackson, and down from March 2011, when 5,423 did so.
According to Mr. Lapciuc, while Jackson has yet to pull itself out of deep financial waters, breaking even would be a significant accomplishment for the cash-strapped public hospital. Finance officials hope to accomplish this goal by partnering with private care and ambulatory service providers to attract paying patients.
"That would signify an $85 million turnaround, which would be nothing short of one of the greatest feats in hospital history," he said. "It's important to remember that most other safety net hospitals — for example, Grady in Atlanta — had their turnaround with a $200 million infusion from a private foundation. We're doing it all on our own. Cash on hand continues to be problematic until we can have more sustained months of surpluses."
Mr. Lapciuc discussed the role the Financial Recovery Board will play in helping the hospital close its $85 million budget gap with Miami Today staff writer Ashley Hopkins at his Jackson office.
To read the entire issue of Miami Today online, subscribe to e -Miami Today, an exact digital replica of the printed edition.
To read this profile article in its entirety,
subscribe to e-MiamiToday.
With the e-MiamiToday you will be able to read
the entire contents of Miami Today online
exactly as it appears in print.
Or order this issue, to receive a regular
printed copy of this week’s Miami
Today. You may also subscribe to the printed
edition of Miami Today to receive the newspaper
every week by mail.
If you are reading this in Miami Today’s “Online
Archive” as an archived web page and
would like to see the entire article that
was published, call Miami Today, 305-358-2663
and ask for the Circulation Department.