After a 10-month stint balancing the City of Miami’s cash-strapped budget at no pay, Carlos Migoya now takes on a more challenging role with a six-figure salary.

Mr. Migoya, a longtime banking executive, was selected to lead Jackson Health System as president and chief executive officer, at a time when the organization is financially in critical condition.

His initial strategy is not to cut services, he said, but will involve some layoffs.

A search committee directed to find Jackson’s next CEO agreed Mr. Migoya was the right man for the job. But some have criticized Mr. Migoya’s selection because he doesn’t have health care management experience. 

Jackson’s problems are concentrated on the business side not the health care side, he said, as the hospital is considered a top comprehensive health care provider.

The hospital’s financial troubles stem from charging more for some medical services and paying higher salaries than competing local hospitals.

“So we've had a much higher pricing, that's kept revenues away, and a high expense structure, of which the combination of the two created the losses and we need to change that,” he said.

In this role, which he took on in April, Mr. Migoya listed as a top priority adjusting prices for day-to-day medical services that Jackson offers  to be more competitive with other hospitals in South Florida.

To increase revenues, he plans to attract HMOs, a type of managed-care company, to do business with Jackson as well as create a first-class service line to draw more affluent patients.

Mr. Migoya shared his plans and priorities with Miami Today reporter Yudislaidy Fernandez at the Jackson complex in Miami’s Health District.