Thursday, August 16, 2007

Foretelling....9/20


With the comments that came from Essent, I had to go back and see if their predictions had come true in the past. Yep, another prediction from the big guy:


To date, 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.
Well, we know how Crossroads did, so how is MVH doing? -$87,205, per American Hospital Directory.

Don't you just hate that?

They have added a little feature to the site, an estimate of how the IPPS changes will affect the reimbursement percentage. MVH goes from 2.8 to -1.1%.

Whose whatsis is puckering?

10 comments:

Anonymous said...

What Happens To Us, Meaning Paris, When Essent Goes Belly-up? I Think Huddy's Bankruptcy With His First Attempt At This Healthcare Thing Is A Very Strong Indicator Of Things To Come. If We Are The " Flagship" , And We Are Failing Miserably, How Can Anyone Expect Him To Succeed? He Must Be Having To Do Some Pretty Faincy Footwork With His Investors!

Anonymous said...

What Happens To Us, Meaning Paris, When Essent Goes Belly-up? I Think Huddy's Bankruptcy With His First Attempt At This Healthcare Thing Is A Very Strong Indicator Of Things To Come. If We Are The " Flagship" , And We Are Failing Miserably, How Can Anyone Expect Him To Succeed? He Must Be Having To Do Some Pretty Faincy Footwork With His Investors!

With the last group, I believe he stuck them with $50 Million. As to the employees, the month before Arcon Healthcare closed, he was telling them, "We believe that the company simply needs more time to allow its concept to mature and to grow its market share and revenue base," .....frank

Anonymous said...

Sounds Hauntingly Familiar.....

Anonymous said...

Kinda funny the Clarksville hospital made $708,442 to PRMC's $288,275. Wow essent youre doing a hell of a job. Clarksville is making almost two and a half times the money of PRMC with a 30 bed facility; and they are nonprofit. essent when are you gonna wise up and get the hell out of Texas? We don't want you here.

Anonymous said...

I seems somewhat ironic that 99.9% of the anti-Essent posts have to do with them being in it only for the bucks.....yet when they continue to operate a hospital and sustain substantial losses they are chastised for that, as well. If they were making money hand over fist, you would criticize them for being in it only for the money.

It seems like it is damned if they do and damned if they don't. Face it, you just want to bitch and moan. Get a life.

It's more of how they keep it afloat that bothers us, Mr. BMW. When it's "Smile, and be friendly...or you're canned", and supplies so short you can't even keep paper towels in the restrooms, much less on the floors?

You realize that the situation can't remain static, and precluding an about face in reimbursements, there is going to be a significant downturn in revenue next year. I'm suprised that the board hasn't dumped Hud and his 'vision' already...frank

Anonymous said...

hud and dick just can't keep themselves from posting on OUR blog. can they?

if we were just bitching and moaning without cause, why would you be going after the blog and anyone that is willing to call a spade a spade...

FEAR... you guys reek of fear and death

Anonymous said...

It isn't that Essent is "in it only for the money". It's that they sacrfice patient care and employees for the money. Every business wants to make money--Doh! But when you treat your employees like the enemy and punish them for doing their best..when you don't care if the patient--your customer--gets the best treatment possible, that's where the complaints come from!

Anonymous said...

I'm a former PRMC employee currently working at another facility two counties over, and here at least the higher-ups are starting to recognize the work we, the employees, do. The most recent employee survey has shown a startling increase in how we look at our bosses. I can also tell you the ER has adequate room, is well-staffed, and clean. The facility is a non-profit, and is showing a profit, as well as an increased patient census.

From my limited experience with for-profit facilities, all I can say is you can have them. Nothing wrong with making money and showing black ink in the ledgers, but ya gotta take care of the folks in the trenches- the administrators may lead, but they seldom if ever get their hands dirty (so to speak), and therefore shouldn't be taking the credit or passing the blame.

Cutesy-poo NewAge phrases and grade-school exercises aimed at the employees are insulting to our intelligence. We're adults- treat us like adults.

beancounter said...

MVH is now listed as losing ~$1.5M

Anonymous said...

For-profit companies not making one, and non-profit firms making a profit? Sounds like Alice in Wonderland to me......how does Tweedle-Hud & Tweedle-Bud spin this one?

And don't forget, sports fans, that this very same for-profit company bought a hospital that promptly lost money hand over fist for four out of five years before it was sold/dumped off/jettisoned to make the bottom line look better to the investors.

It's OK to make money, but there's nothing wrong in treating your employees like adults and empowering them to do the job you know they can do, and give them the tools to do it. Runs counter to berating the Hebrew slaves for making lousy bricks with the poor materials handed them, which seems to be the current business model.

"And the dance band on the Titanic/Played "Nearer My God to Thee......" (a Harry Chapin tune which seems to fit things nicely).