Wednesday, February 01, 2006

Blowing smoke and sunshine

Has anyone heard a lot of good things said by patients in this hospital? Certainly not as to response to call buttons, IV bag changes, bed changes, and the like. (All pointing to short-staffing.) So much for the Essent COO's statement:

"...We are committed first and foremost to providing high quality health care services for everyone in Paris and the surrounding communities."

But, remember the days prior to and heralding the purchase. Everything was roses. The Paris News was happy--their advertising income was probably going to stay the same, so they ran their typical hard-hitting fluff piece.

Right after the purchase, Jenks Healthcare Business Report said:
Although additional hospitals are in the pipeline, it is unlikely the company will close on any for at least the next six months while it digests St. Joseph’s and returns it to profitability. But as operations improve, and profits rise, Essent will continue its growth and may do one more venture capital round before it entertains an IPO.

Well, the reason for Essent's existence comes out: IPO. The magic drug to satisfy the craving of any management type. No wonder Hud came out of retirement.

It's also interesting how most of the Essent acquisitions have been in areas with no alternatives for care. Essentially, a monopoly. So, they can set the wage, they can evict Red River, and they can play the tune that everyone dances to in healthcare.

Someone mentioned that the doctors were being sued. Yep, all those that were in partnership for the MRI (Essentially the entire medical staff.) So was the hospital (a partner, 20%, I believe.)

Why are they hitting so hard on their imaging competition? Certain aspects of a hospital make money, enough to offset the losses sustained by other areas, and then some. Imaging is one of them. The hospital charges significantly more than RRVR does for exams. If they effectively took RRVR out of play, they not only absorb their business, but they can employ a radiologist to interpret and bill for the professional services as well.

So back to the initial quote, which might read:
"...We are committed first and foremost to providing the only health care services for everyone in Paris and the surrounding communities."


Anonymous said...

Someone needs a good dose of reality here! People would rather go to Greenville, Sulphur Springs, Dallas, Plano and any number of other hospitals both to work and to receive "GOOD" health care than get the treatment that is dished out by this facility. This is an extremely narcissitic attitude. They cannot set wages or get by with only verbal claims of good patient care. Neither employees nor patients will stand for this for very long. This is evident in the mass exodus of employees and in patients that have refused to be treated at this hospital, including employees.

fac_p said...

Over 150 'hits' in less than 12 hours. Not bad, Paris.

I think I will have to move the counter to the top. It has become a pain to scroll down to the bottom.

Anonymous said...

You're right. The hospital was a limited partner in that radiology deal. But good grief have you seen the lawsuit? It outright accuses fraud. Fraud by million-dollar-a-year-docs right here in River City! I know you're hitting on Essent here b ut come on, there's smoke and sunshine here for everybody!

Anonymous said...

Speaking of lawsuits, anyone heard of Haverhill, MA collusion?

For those who do not want to dig through the link: Essent was charged with collusion in the bidding process.

What they wanted thrown in brought $750,000, separately on a re-bid. That would not have been a problem, but it was supposed to be agreed to be bid out competitively. Collusion between the top bidders at $250k each was charged, hense the re-bid.

Anonymous said...

yeah for this web site

Anonymous said...

When is Mr. Knizley going to be removed? Is Paris soon to be without any kind of local health care???