The new administrator for PRMC is not new to Essent, nor Hud. As a matter of fact, he even fell on his sword for both about five years ago. Essent was being investigated for collusion in the bidding process for property. Richard's resignation was meant to pacify the authorities. Since then his fortunes, or the fortunes of those he worked for, haven't been the greatest: His last position was CEO for a hospital(under Cambio management) that went chapter 11. He was also in the Crossroads debacle, and doesn't this press release sound familiar:
Doctors Hospital To Become Crossroads Regional Hospital
More than 200 entries submitted during name change contest
WENTZVILLE, Mo. - Doctors Hospital will change its name to Crossroads Regional Hospital effective July 1 following a community-wide contest to select a new name for the hospital that reflects its service to this growing area.
Hundreds of entries were submitted for the hospital's new name, 37 of which were a variation of "Crossroads". Scott Schultz of Wentzville submitted the winning name. He will receive a one-year membership to the Greater St. Charles County YMCA.
"We were delighted to see this level of community participation," said Richard Salerno, vice president of hospital operations for Essent Healthcare.
Also about Crossroads purchase:
Richard Salerno, Essent's senior vice president of hospital operations, saidSo then comes the question as to what happened to the hospital when Essent got it? Which year out of the five did they actually make money? The first, or the last?
Doctors Hospital's 1999 financial results appear to be in line with 1998, when
the 94-bed hospital made a $1 million profit on $18 million in revenue.
No stranger to Texas, between his position in Essent and lately with Cambio (Baptist and Carraway assignments) and, Richard was CEO of North Austin Medical Center, then senior vice president of operations for Austin Surgical Hospital.
But he and Hud have even more of a history, Arcon comes to mind, his resume reflects ARCON Regional Vice President and that Arcon 'sold off' its outpatient facilities. Possibly so, but under court direction, and the Texas clinics a year after they closed.
In the corporate world, you either progress, or you are sloughed off into a corner. Richard progressed up (and past) the CEO position that our facility would have commanded over 10-15 years ago. And now, going from a 615 bed facility to at best less than half...one might say it's not only his last chance, but PRMC's as well, with Essent.
Eat your heart out, Snooze...and the Nashville Business News....