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Carlos A. Migoya, CEO of Jackson Health System, has always been a numbers guy, but doesn\u2019t lose sight of the people behind those numbers, their stories of challenges, failures and success. It\u2019s those stories that have led him to his success as a person of transformation.<\/p>\n
\u201cBusiness is a people business,\u201d Migoya said during the Herbert A. Wertheim Lecture Series<\/a> at FIU\u2019s College of Business<\/a>. \u201cAccounting puts together the numbers, the data but it\u2019s the finance people who can read numbers, predict the future and understand the stories.\u201d<\/p>\n Knowing little or nothing about an industry has never restrained Migoya (BBA \u201974, MBA<\/em> \u201976) from taking on a challenge. He started as a bank teller at First National Bank of Florida in 1969 and led what is today Wells Fargo through the savings and loan crisis as well as various mergers and acquisitions. Years later, Migoya served as Miami\u2019s city manager on a pro bono basis for 10 months.<\/p>\n \u201cWhen I became city manager, I didn\u2019t know anything about municipalities,\u201d Migoya said. \u201cWhat got me into Jackson Health System wasn\u2019t about healthcare. It was about people.\u201d<\/p>\n In each case, having the right people in the right places was key to overcome challenges posed by Jackson\u2019s financial crisis and putting the business back on track.<\/p>\n Jackson, a taxpayer-owned system for residents of Miami-Dade County anchored by Jackson Memorial Hospital includes two neighborhood community hospitals, Holtz Children\u2019s Hospital, Jackson Behavioral Health Hospital, Jackson Rehabilitation Hospital, two nursing homes and numerous urgent care centers and clinics. In 2011, when Migoya became CEO of Jackson, Miami-Dade County\u2019s $2-billion-a-year public health system was in a deep financial crisis, posting losses of $419 million over the course of three years.<\/p>\n When belt-tightening and cuts were needed, Migoya took action. He renegotiated contracts, reduced salaries and approved layoffs and personally explained to those affected why such action was being taken.<\/p>\n \u201cYou have to understand the finances and what to do, but you can\u2019t lose focus that it\u2019s all about people,\u201d Migoya told the FIU community.<\/p>\n He drew up a plan to reduce expenses, establish best practices from the executive level to the operating rooms, and to transform Jackson\u2019s image from a provider where patients would go \u201conly if there was no other option, to the hospital of choice for everyone in Miami.\u201d<\/p>\n Migoya\u2019s financial turnaround of reversed years of massive losses and produced a surplus of $51 million in 2013, $50 million in 2014, and $58 million in 2015.<\/p>\n Planning for the future. Migoya has ambitious plans for JHS that includes extensive rebuilding and renovations expected to take place through 2020. These include the expansion and renovation of Jackson Memorial Hospital; six new urgent care centers in Miami-Dade, including in North Miami, Miami Gardens, South Beach, Doral and Cutler Bay; and a new medical campus in Doral, Jackson West.<\/p>\n \u201cThe challenge now is how we continue to grow,\u201d said Migoya. \u201cOver the next 10 years we have to raise $100 million per year for improvements.\u201d<\/p>\n Words of wisdom.<\/em><\/p>\n The talk was attended by FIU Healthcare MBA students as well as staff members and Jackson professionals. In a question-and-answer session, Migoya stressed the importance of networking, urging students to practice building relationships, especially introducing themselves to someone they don\u2019t know and starting a conversation.<\/p>\n \u201cYou can\u2019t just start talking about a product,\u201d Migoya said. \u201cYou have to find things in common, establish a link and build the relationship from there. That\u2019s the kind of networking you need to know.\u201d<\/p>\n As technology continues to impact the healthcare industry, one thing is certain: change. It may be sensors tracking patients\u2019 vital statistics, or IBM\u2019s Watson providing assistance in clinical diagnoses, or data providing new insights in personalized disease treatment, Migoya noted.<\/p>\n \u201cMoving forward is about your ability to manage change,” he added. \u201cYou don\u2019t need to be the smartest person in the business; you need to surround yourself with people who are smart.\u201d<\/p>\n![\"\u201cNumbers](\"https:\/\/biznews.fiu.edu\/wp-content\/uploads\/2016\/11\/carlos-migoya-2.jpg\")
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