Last year, Merrimack Valley Hospital lost $87,205. They have been an Essent hospital for how long? Since 2001.
In retrospect, the first hospital (Crossroads) that Essent bought lost money for all but one year (out of five.) From the beginning, they put serious money into the hospital, but like the Titanic, it just kept going down.
Nashoba Valley made $537,676 last year, approximately the same percentage of return on their gross as PRMC. But, their Return On Investment (ROI) is far better, as the price was only $11M. They still have a little over a year to commit an additional $16M in improvements or a new structure. While ground-breaking for a physician's office building has occurred, we'll see how an actual replacement hospital shapes up in the next year. Kind of waiting until the last minute...maybe hoping for an exception to be granted? Or was the timeline on the new hospital completion left open--sort of like the lawsuit by the gay couple....
Sharon Hospital seems to be the cash cow of the organization: Approximately $3.7M from a gross of $98.5. And they got it at a price lower than that of NVMC ($16M outright and $8M more for improvements)! Guess it was worth waiting for--despite assuming liability for a toxic waste dumping problem in NY.
Paris had a total revenue of $363,370,383...yet only made $1.6M over costs. Maybe it's all those locums?
Southwest wasn't in the mix, but lost almost $2M. I imagine that there were some changes.
It should be interesting this year, since the cost reporting period is over and the figures should be posted soon. For those interested, AHD.com is the website.
My questions are many, but here is the predominate one: Do they really expect to turn around a hospital with some paint and TVs? That isn't the problem, but let's see what happens....
In retrospect, the first hospital (Crossroads) that Essent bought lost money for all but one year (out of five.) From the beginning, they put serious money into the hospital, but like the Titanic, it just kept going down.
Nashoba Valley made $537,676 last year, approximately the same percentage of return on their gross as PRMC. But, their Return On Investment (ROI) is far better, as the price was only $11M. They still have a little over a year to commit an additional $16M in improvements or a new structure. While ground-breaking for a physician's office building has occurred, we'll see how an actual replacement hospital shapes up in the next year. Kind of waiting until the last minute...maybe hoping for an exception to be granted? Or was the timeline on the new hospital completion left open--sort of like the lawsuit by the gay couple....
Sharon Hospital seems to be the cash cow of the organization: Approximately $3.7M from a gross of $98.5. And they got it at a price lower than that of NVMC ($16M outright and $8M more for improvements)! Guess it was worth waiting for--despite assuming liability for a toxic waste dumping problem in NY.
Paris had a total revenue of $363,370,383...yet only made $1.6M over costs. Maybe it's all those locums?
Southwest wasn't in the mix, but lost almost $2M. I imagine that there were some changes.
It should be interesting this year, since the cost reporting period is over and the figures should be posted soon. For those interested, AHD.com is the website.
My questions are many, but here is the predominate one: Do they really expect to turn around a hospital with some paint and TVs? That isn't the problem, but let's see what happens....
7 comments:
Happy Thanksgiving!...frank
What does PRMC and a leech have in common? They are both PARISITES and suck the life blood *and your money* out of you.
You thought losing $87k was bad, try this one, Frank: ahd.com lists Crossroads as losing $10M with a total gross of $25M! That's what is called running it into the ground and burying it up to your a$$ent! You have to look up SSM-St. Joseph's, but the figures are still from Crossroads!
Bill Heburn said Essent stuck $38.5M into improvements there. SSM has on their site that they've dumped several million into it as well. How can a hospital that new (the physical plant was what, less than 13years old when Essent bought it?) need that much capital investment and lose that much...and still have the same CEO at corporate? Amazing, truely amazing. Apparently what they say around Nashville is true...just not able to be published...frank
You know what is funny? All that I have seen in the local newpapers (Observer Reporter and Greene County Messenger)is how wonderful SRMC is doing and how many jobs Essent has brought to the community. ADH.com only backs up my point. They lost 1.9 mil. already. Don't look like much has changed.But you would not know that by reading the papers and the newsletter that they sent out. It is funny how you can twist the numbers. We hired over a hundred new employess? How many were left go or driven to leave. I think that you just lost another dept. head last week or 2 week ago. I remember comments being made about how many hats she could wear and how dependable she was. I know she asked for some help to lighten her load. Instead you said no and she left. The hired 2 people at the same cost to do her job. And what about the buildig supervisor? He lasted 1 paycheck till he seen the light. Wow what happened? Essent is good I will give them that. Thy intertwine with the figure heads in the community and hire their family to weave themselves into the fabric of the community. In return all they ask is that you follow don't lead and eat b.s. As I sit here I wonder if I could go to a Dept. Head meeting now who would I recognize? Not many maybe 3 or 4.
Nighthawk not appreciated:
OK to farm out your diagnosis to a distant land?
…Five hospitals here in the Valley of the Sun are using an overseas radiology service to read scans taken at night while our hometown docs are piling up the zzz’s.
…The company, Nighthawk Radiology, is an American company and its CEO says he won’t “let anything go wrong” letting radiologists in Australia take a peek at your x-rays.
…He insists the doctors in Australia are Americans who moved there. These doctors are also licensed in Arizona.
…They also point out that the docs Down Under are fresh and alert due to a 17-hour time difference.
…Also, the local Arizona docs supposedly take a look at the CT scans, MRIs, and x-rays taken during the night the second they roll into the office.
…The radiologists love not getting night calls. “It has changed our business,” crowed one.
…Basically, no one tells the patients because “they think the ED doc is reading the x-ray anyway,” said one radiologist.
…One question here: HA wonders why fabulous, board-certified, malpractice-insured docs moved to Australia in such numbers.
…She is just askin’.
…Of course, HA is just bitter. She was once sent home from an ED with a paralyzed intestine, went back hours later and said this is still bad, they still said, no, you’re fine, go home, and then (sheepishly) came back in the little room and said: “Sorry, we were looking at yesterday’s x-ray, you have to be admitted.”
….WHO was looking at it, again, myte?
…Oh, that’s right, you’re an American.
Food for thought, eh mate?...frank
How much does it cost to plan a hospital, but not build a hospital? They had to make $16M in improvements, or build a new hospital. No timeline on the build, I take it. There was on the improvements. One of the first posts I published dealt with delays.
An office complex would increase revenue and, since it appears to be strip-mall quality, go up fast. The actual hospital would take considerably longer, and Soran had some serious private reservations about the whole project.
I imagine that the other ancillary buildings will be next on the list--not the hospital physical plant...kind of an date extension, as it were.
I agree with anonymous. Since leaving Southwest, there have been two people hired to do the job I was doing myself. They made my life a living hell until I quit. So I screwed myself, not really, I now have the satisfaction of sleeping in every day, I may be poor, but I will surive. They will not bring me down. If anybody who has worked there for a while will notice, the hospital is exactly where it was 8 years ago. They didn't offer anything new to the public, they just brought everything back. How many department heads are there now. The department head has an assistant, the assistant has an assistant. TO MANY CHIEFS AND NOT ENOUGH INDIANS!!! So if they are losing money, they deserve it, they treat their employess like shi%. The reputation the hospital has, has only been reconfirmed by the staff they have. The community people will travel to timbuc two, rather then go there to be treated like a number.. Just don't want any nurses to go out of their way to help a patient that is actually sick.You never get you meds on time. You have to double check what they are giving you. I think all they care about is making themselves look good on paper, humanity is a thing of the past. Hell, you could probaly go to the local vet. and get faster and better care... Wake Up Greene County. Your Healthcare system SUCKS!!!!!
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