Financially strapped Shands Jacksonville (Fla.) Medical Center would receive $8.3 million in new assistance from the state under a budget allocation expected to be approved today. The one-time payment, included as an item in the state’s annual budget, would enable the 678-bed hospital to recapitalize and promote “long-term financial viability,” according to a written statement Shands provided to Modern Healthcare’s Daily Dose. Earlier this year the hospital, which treats a primarily low-income population, was advanced $11 million in Medicaid payments to cover mounting bills. Cambio Health Solutions, Brentwood, Tenn., has been helping executives identify savings opportunities and reposition the hospital financially. A hospital official declined to comment beyond the written statement. For the fiscal year ended last June, Shands Jacksonville lost $12 million on revenue of $418 million. At deadline, the Florida Agency for Health Care Administration could not be reached for comment on the Shands payment.
Fla. hospital likely to get more state assistance
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