Friday, March 03, 2006

Don't Thank Me....--3/10

Don't thank me so quickly--any change is going to cost in the short-term. A lot of what has been thrown out is true: I just can't see Essent making the changes necessary to improve the situation. I think that it's a matter of control.

Crossroads lost money through most of its tenure, yet they held on to it as long as they did--five years. If we are still in a money-making situation, then they will be hard-pressed to let go.

Crossroads was an ego thing as well: Their first venture. PRMC is their first 'larger' hospital. It doesn't seem like Hud would take failure well.

Obviously our hospital had to make changes, it was bleeding red because of the attitude of (local) administration and a good many employees. But the idea that Essent had the only ideas for change is insufferably arrogant.

Many of us had noted the waste, the poorly planned projects (Gibraltar Hotel), and above all the phrase, "We're non-profit, we don't have to worry about that." Even non-profits have to watch the bottom line, or the lights go out.

One analyst forecasted one more acquisition before Hud marketed or IPOed the package, maybe he’s right, and Southwestern (in Pennsylvania??? Like calling us Northeastern...) would be the last. If not, maybe this will prove to be more costly than they expected, with as many temps as they are using! (Figure 2-3x what regular staff would have cost.) The balance sheet must be soaked in red ink. If it isn’t, doesn’t that tell you what a poor job Monty and his ’band of brothers’ was doing?

One is drawn back to Crossroads, and wonder if the problems there are resurfacing? With the statement of one of the former administrators that it was only profitable one out of five years, kind of makes you think that their rough-shod ways didn’t go over any better there than here….


Anonymous said...

Perhaps you could start a new subject entitled Boycott. Could we show our disapproval of E$$ent by avoiding sponsored events such as the Gala, Xmas party, Golf tournament, Board retreats, Doctor's Day breakfast, employee picnics, and certainly any mass public feedings in honor of yet another costly temporary remodel of our old hospital buildings? There is no reason to fraternize with the enemy that is wreaking further havoc on our once fine medical community.

fac_p said...

One of the reasons we're in this is the north/south thing, which did the boycotts. What we need is those people that are not passively resisting, but actively lending a voice.

Many of those help the community, the ones that directly benifit Essent, well, they could end up the most abandoned functions ever held. Follow the money, if it ends up in Essent's pocket, sure, boycott. Otherwise, attend with a vengence, and ask the hard questions.

fac_p said...

Haven't cracked the magic 1000 hits a day, but for the last four it was over 900 per day. (Friday was 755).

Thank you for your support. And I don't mean money. If I wanted, I've had several offers of monetary support. Alternately, I could have placed the ads you see on most blogs.

What I'd like is solutions, and the best way is discourse, with a lack of distractions.

Your thoughts count here, unlike in the venue that the hospital supplies--Oh, yes, I forgot, they don't supply one.

fac_p said...

Who would buy the hospital, should it become available? Possibly, history would repeat itself--SSM.

They cover Blue Island (Chicago), IL, down to Oklahoma City. They bought Crossroads. It wouldn't be just a referral conduit to Dallas, it would have to stand on its own.

But it is non-profit.

Let me repeat, however, that non-profit doesn't mean that you don't watch the pennies. We found out what happens when you don't: You find out the E$$ential facts of life.

This area doesn't have the margin of insured to carry a large amount of waste, and the last time they bought an Essent hospital, only 1/3 of the staff stayed employed. More were hired, but it was an apply-for-your-position situation.

No matter who would buy the hospital, it is never going to be the same as it was. You can't go back is never more true.