OTHER AGENCIES AND ORGANIZATIONS
Public Health Trust of Miami-Dade County
NOTICE PURSUANT TO SECTION 155.40(5)(e)1., FLORIDA STATUTES
On April 29, 2013, the Financial Recovery Board of the Public Health Trust (FRB) held a public hearing to determine, in accordance with Florida Statute §155.40, whether the the Public Health Trust hospitals (Jackson Health System) should continue to own and operate its hospitals or whether any of the individual hospitals, or the system, should be operated by a for-profit or a not-for-profit entity. Based upon the totality of the information considered by the Board, including the valuation report by Public Financial Management, Inc. (PFM), the comparisons of the operating costs and measurable quality outcomes between the hospitals operated by the Public Health Trust and other similarly situated not-for-profit and for-profit hospitals with similar service mixes, comments from the community, and comments by the Board members, the Financial Recovery Board of the Public Health Trust received the PFM report making the following findings:
There is not a meaningful difference in the cost of operations between the Jackson Health System hospitals, individually and collectively, and other similarly situated not-for-profit or for-profit hospitals with similar service mixes, using publicly available data provided by Agency for Health Care Administration and the quality metrics identified by the Centers for Medical and Medicaid Services Core Measures;
It is more beneficial to taxpayers and affected community for Jackson Health System, individually and collectively, to be operated by a governmental entity, rather than be operated by a not-for-profit or for-profit entity with similar or better cost efficiencies and measurable outcomes as identified by the Centers for Medical and Medicaid Services Core Measures;
Jackson Health System does not have positive fair-market value with or without the inclususion of tax revenue; and
There is not a net benefit to the community to operate Jackson Health System hospitals, either individually or collectively, as not-for-profit or for-profit entities, and use the proceeds of their sale or lease for the purposes described in Florida Statute 155.40(16).
For the above reasons, the Financial Recovery Board of the Public Health Trust determines that it is in the best interest of the affected community for the Public Health Trust to continue to own and operate the Jackson Health System hospitals, individually and collectively, as a public not-for-profit entity, rather than consider a sale or lease to a third party.
