Friday, February 09, 2007

Patience, Hud, Patience...2/19

All the tag lines indicating "PR" are either interviews or Essent PR releases....

PR: Connery said he was prepared for public scrutiny.

frank:You asked for it, you got it.

PR: To tell the difference between diamonds in the rough and lumps of coal, Connery says he relies on his instincts and something he calls "experiential capital," meaning his experiences as chief operating officer of HealthTrust, a company that owned 110 hospitals before being bought by HCA.

frank:Now remember, this is the guy that sued HCA unsuccessfully,twice. He stayed with HCA how long after acquisition?

PR: Essent has acquired Crossroads Hospital in Wentzville, Mo., formerly known as Doctors' Hospital, and Merrimack Valley Hospital in Haverhill, Mass., which was previously called Hale Hosptial. Those hitherto financially failing institutions, Mr. Connery estimates, should turn a profit of at least 12 to 15 percent within two years.

frank: Is this relying on his fabled 'instincts'?? Crossroads failed miserably, MVH lost money in 2005, and none of the hospitals are returning a net of even 10%.

PR: After all, the company he leads, Essent Healthcare, has grown its revenues to $300 million this year from $20 million just three years ago.

frank: It really doesn't matter what your gross is, it's the bottom line, folks. The retailer that sells something at cost, but gives a quantity discount because he'll 'make it up in volume' must attended the same school as Hud.

PR: “We’ve made significant investments in Crossroads over the past five years, including the construction of three medical office buildings, renovations to the emergency room, and a new 3,000 square-foot outpatient physical therapy facility,” said Bill Heburn, executive vice president, operations, Essent Healthcare. “Despite these significant investments, Crossroads posted a positive operating income only one year out of the five we’ve owned it."
PR: It would be easy to forget that Hud Connery Jr. is a patient man.

frank: Or running scared. If he'd bailed on Crossroads when it was obviously a loser, it would have been all over---he just made it look better than it was until he could pick up Sharon Hospital and NVMC. (Enron could have taken lessons!) Dumping Crossroads after he doubled the gross made it easier to swallow for investors.

PR: Connery said he was prepared for public scrutiny.
PR: The chief executive officer of one of four suitors seeking to purchase Muskogee Regional Medical Center said he will answer any questions from the board, but not in public.


Anonymous said...

"Oh look!" cried the little girl, "the Emperor has no clothes on!"

Smart kid.........saw thru the crap.

Anonymous said...

I guess HUD + PR=BS.

Looks like algebra to me.

If they would have taught this math in school, maybe we could have seen this disaster and nipped it in the bud before this tornado hit our town.

Maybe fac_p is the new radar system that will prevent other towns from suffering our demise.

Who knows, maybe I will use this math to develop a BS detector and the proceeds will go to build a new hospital.

Anonymous said...

Well by now the news is probably out; but, just in case you havent heard there was a called directors meeting yesterday and the word is LAYOFF. Each dept head is to identify the sacrifical lambs and report back ;supposedly the medical staff will be called together to receive the news , but I rather suspect it will be done via fax.The sad part is that the hospital is already under staffed and the risk is, that essential people who are not layed off will on their own begin to look else where.The amazing thing is that the answer is staring the admin. in the face ;to whit ,there is plenty of business in paris for a vibrant profitable hospital; the problem is not that we have too many people working here; the problem is that we are loosing the most profitable members of the community to Dallas and Tyler. What should be happening is a n intense effort to improve the ER and nursing care and the perception that we have an unusually high infection rate.If E$$ent is to really be a regional medical center , they will have to deal with out migration ,nursing care ,and the ER .,not keep reducing staff which only exaccerbates the realproblems.

fac_p said...

Check out '10%' comments.

Heck, Essent probably wants to make a game show out of it.

Cutting staff is the short-term and short-sighted approach (and easiest.) Your employees are your greatest asset in healthcare. But, admitting that belies everything that Essent has done since its existance.

What did they do at Crossroads: Cut staff and put in new equipment.

And MVH, PRMC, and Southwest.

If they had worked with staff, rather than denying their worth, the bottom line might be a little less red....frank

Anonymous said...

They must be on crack to make decisions like that.

Layoff. They must have an IQ of 70 combined.

I just don't get it. There must be money in screwing over their investors.

There was a guy in Philly this week who started shooting in a business meeting this week. I keep thinking its going to happen in Paris. Between the city council, and PRMC, I can sure see it coming.

Anonymous said...

LAY-OFFS! PERFECT SOLUTION TO A SHITTY PROBLEM! The nurses are SO overworked and under such extreme stress as it is, I am surprised there has not been an urising on THEIR part. Instead, they hang in there, exhausted...taking care of their patients the best they can for what little appreciation they get and do what "THE MAN" says do. Work the overtime, be forced to take the 12 hour shifts...they have ALL sacrificed. I saw an ad recently to come work for PRMC because they are so "family oriented" WHAT A LAUGH!!! They keep employees away from their families and now that this has become an inconvenience to the budget, let's lay them off...they gave us ALL they had, let's take away the rest so they have nothing! Way to go, Essent!!!!