Wednesday, July 09, 2008

Cheap To Keep?....7/26


Back to the drawing board, I guess. I wonder what I cost to recruit the last guys and what the hospital will pay for the next bozos.

Well here's some interesting news....seems the Full Time Radiologist, of whom they were soooooooo pleased to have, has turned in his notice. Seems he doesn't like being the ONLY full time rad and, shucks, the money is too dern low to boot. Awwwww. Back to Ye Olde Locum Tenums.

Rio Rojas boys don't look so bad now, do they???



(Photo of Jim Mabe, also known as "Droopy Drawers".)


As an update, since we are talking about money: Paris remains the same, Sharon increased it's profit to $1.8M, Nashoba Valley stayed the same, Southwest dropped to $-2.4M and Merrimack Valley is certainly in the valley...$-4,323,137. What it comes down to is a loss of $-4.5M per year.

So, Essent needs to sell, but who would buy? Investment capital is getting tighter, and you could see that Vestar, GE, and T-C might want to lighten their load.

And, obviously, I must not have had an effect on the bottom line of PRMC...why it's been sitting at a half-million dollar loss for a while now.

16 comments:

Anonymous said...

Sorry to foreshorten your comment, but links to sites like horse rescue and squirrel rehab aren't germaine to the blog...frank

It seems that what is happening to PRMC is all over the country. Patient abuse from Nurses Doctors, and hospital administration. It is apparent that there so many layers of cover up going on a patient has no recourse.

All of the monitoring agencies are there to protect the Doctors, Nurses and the Hospital not to protect the patients. The type of care provided doesnt matter so long as they can get the money from insurance and Medicare.

Anonymous said...

Frank,
Isn't that the same loss as Christus had, prior to the buy?

So, you're saying, what did change, other than the attitude, staffing levels, census, and the people? Not the money....frank

Giles Corey said...

Have you seen the message from the new CEO of Essent? Something to the effect of "We know where we want to take the company but we don't know how to get there" (Paraphrased)

ROFLMAO! At least he's being honest!

fac_p said...

The man without direction doesn't know where he's going, when he gets there, doesn't know where he is, and when he leaves, doesn't know where he has been.

Something like our political process....frank

Anonymous said...

http://www.phc4.org/reports/fin/07/docs/fin2007report_volumeone.pdf

(Page 24 & 25 for SouthWest Regional Medical Center)

So their revenue is up an incredible $10 million. Good job SRMC!!!

Oh yeah ... their expenses shot up $14 million! Gee, I guess jacking up the prices on the chargmaster didn't help the bottom line after all. (Did they even look at the payor mix?) However, arbitrarily increasing charges did accomplish the following:

1. It forced the already cash strapped self-pay demographic in Greene County to pay MUCH more for the same products/services. Thanks Essent!

2. It made Essent look like they gave more away (in dollars) in charity care.

3. It made it look like they are growing revenue. (do you think the investors are that dumb?)

For good measure they also made the list of hospitals that reported their information late.

SRMC also has the distinction of reporting the 2nd worse operating margin in their area at a NEGATIVE <11.94%>.

Given the huge chunk of cash they saved just by swapping out the good healthcare insurance (Blue Cross) provided to employees by the old Greene County Memorial Hosptial with cheap health insurance, one really has to ask ... just where did all the money go??????

Keep polishing that turd, Essent! Tick tock ... tick tock ... tick tock.

Anonymous said...

With the amount of red ink in the books, how long will it be before we have an Essent Death Watch? Anybody want to get up a betting pool on when the company folds?

Or at least when the real losers in this sorry mess get tossed overboard (see: Crossroads) to keep the rest of the empire afloat?

Anonymous said...

Talk about throwing good money after bad.....bring in two radiologists, tout them as the best things since sliced bread (and make the Snooze help them).....only to see them leave town as fast as their little legs could carry them.

Can you say "egg on your face"?

Way to look like a genius, Duckboy. Ya s'pose you oughta swallow your pride and talk to the Red River boys, assuming they don't tell you to do something I can't mention here? For once, admit that the idiots in NashVegas don't know squat about what's best for Paris and the surrounding area, and actually WORK with the locals, instead of alienating them to the point where business goes elsewhere, leaving only those who can't afford to go anywhere else. Admit your business model is flawed and failing, and either fix it or pack your tent and slink away.

I'm not sure which is worse, Christus or Essent. Right now, Essent is making a strong case.

Anonymous said...

To 10:53 AM:

I like it when the insured patients leave Paris for healthcare. I left e$$ent. So now I'm one of the providers taking care of Lamar Counties insured. It's great job security for me. Keep up the good work e$$ent. I for one appreciate it :)

Anonymous said...

when is this "new" cardiac er at north campus going to open up? also what happens if a mother carries her child, or a bad trauma comes in to the north campus. is the staff at north going to stabilize or call 911 for a ambulance to go south? what about if a child comes in not having a chest pain? send the child to south and then he will get shipped back to north for a pedi room? it doesn't make sense. as much money that this "essent" company has spent on remodeling and "bright ideas" they could already had at least partial new hospital being constructed at the north campus. lets look at all the VACANT building that prmc has. the old/new day surgery by the hospital. er 2 when the cardiac er opens up. this company waste more damn money that any company i know. hell no wonder the docs don't take call and are leaving. hell look how many CEO's prmc has had in the last 5 years. i am just curious how they are going to curb the smoking policy to visitors. i imagine some of the security will have there hands full. i guess what i am saying is that it doesn't make sense to have a er on the southside of town and the cardiac er on the north side of town. chest pains are going to go to both and medical emergencies are going to walk in to the north campus. quit trying to copy cat baylor plano. at least there cardiac er and main er are connected with a cat walk and not 3 miles apart. geez, who was the brainchild who thought of the cardiac er at north. i really feel sorry for the ambulance people. thumbs down to prmc. please sell and leave texas. you have ruined the medical image of ne texas.

Anonymous said...

From what's being said, they aren't going to have two campuses--just one hospital. The south is looking at rehab/long-term care.

So, the re-do of the ER, 6th, and the others will be for rehab???? It will take an awful lot of marketing to fill all those beds! Make the surgical suites into handball courts.

That still leaves the question of what's going to happen to all the properties that they own by South?

What price per square foot are they going to pull in for offices by a rehab facility? Maybe they'll give all the directors their own suite.

Anonymous said...

The ER is small, the waiting area is smaller, and there is no place to expand. Shoot, there's no place anywhere in that area to expand unless they buy up some more surrounding property, condemn it, and build on.

Like that would be easy.......

There is, and has been, much more space to expand on the north campus. The ER and waiting room is bigger. More room to build extra on the existing property, perhaps some more doctor's space (in addition to the pavillion buildings), easy access off the loop.......but I have little faith Essent will do what they have said they'll do.

Anonymous said...

Two senior executives of Emerson Hospital in Concord created documents that misstated the hospital's financial condition over parts of its last three fiscal years, the hospital found after an investigation and audit that concluded last week.

The misstatements made the hospital's performance appear better than it actually was. Michael Collins, its controller - left Emerson last year. Officials declined to say whether they resigned or were fired. Don't let Mr Collins fool everyone - this is still happening but at a different address and with a didn't partner the new CFO. Imaging what the true loss is!!!!!!

Anonymous said...

Have you seen the message from the new CEO of Essent? Something to the effect of "We know where we want to take the company but we don't know how to get there" (Paraphrased. How confidence is he. You're the CEO of Essent Healthcare and you don't know how to get there. What wonderful leadership but that is usually the qualification for leadership within Essent. At MVH most of the department head have High School Diploma with lack of experience and lack of motivation. The CEO went from controller to CEO and the CFO has miminal experience as a CFO and it's VERY apparent. On average most director's work 3 day per week but are paid for 5 days/40 hours. Submit vacation time for days off is unheard of and no one in adminstration monitor the payroll process at MVH. 40 hours and 5 days a week isn't in their work ethic. Maybe if Mr Bowder took some interest on what is apparent at MVH he can figure how to get there. There are so many layers of cover up going on at MVH it is amazing they are still open.

Anonymous said...

Talking about throwing money away.
MVH brought on a GI doctor paid her two sign on bonus upfront and now she leaving without fullfilling her obligation. Mr. Collins assure the leadership that she wasn't leaving because anything MVH did or didn't do for her. Reality we all know why she is leaving - NO BUSINESS - NOT HAPPY.

fac_p said...

The idea is to get the patients in, and not need the additional size in the waiting room.

What we are failing to see, is the drop off of patients from needing two ERs, two hospitals--to one, and the smallest one, at that.

How much standard capacity is being lost to the "Heart Hospital", and when will that be replaced?

Anonymous said...

was told by a prmc employee that the cardiac er will open at the end of august and have 2 rn's in the morning/night to manage 5 "chest pain" rooms. there will be no triage nurse, tech, or ward clerk. also heard that er 2 is closing on the opening of the cardiac er. was told if a mother brings in a child with a lacertion to the brow, the staff at north are to control the bleeding if any, bandage, and call 911 to take child to prmc south. alot of wasted money from essent. has anybody seen the new lewis shop, i mean lewis hall? what a joke.