Sunday, February 15, 2009

Caught In The Headlights....2/22


You might remember when Hud left...(for those who don't, he was the CEO of Essent) and some of the rhetoric that was used when he was ousted. Possibly you might have missed a statement that was issued by David Jarrard, an Essent spokesperson to the Nashville Post:


According to Jarrard, discussions of a possible sale have been tabled for the time being noting that “every Essent hospital is profitable and growing in their markets."
If you note the timeframe, that was in November of 2007--exactly the period that is displayed on the American Hospital Directory's site right now, showing the losses of what, $5 Million? So much for Essent's veraciousness.

If we take that, and Essent's backing out of the retirement match, you might have some serious doubts about the present and future health of Essent as a viable entity. And how can you trust what they say?

12 comments:

sleepy_steve said...

Quite Stalin-like, don't you think? Instead of executing generals, "Rubber-Ducky" and his puppet-masters are demoralizing and running-off their nurses and other skilled professionals. "Hey, Joseph!" How'd you like it when the Nazis invaded? How'd executing all of your generals work out for you?" Not too good, by the history books that I've read.
I don't even work for them and it's still incredibly frustrating to me.

Anonymous said...

Sadly, one thing Essent does well is propaganda.

And just where was the newspaper in terms of checking the facts? It's pretty telling that they just let statements (aka: absolute lies) slide, no?

Again, Essent is good at PR and the propaganda that goes along with it. Sadly, that may be the sole area of expertise for this organization.

Just think how well they COULD be doing if they used all that energy and money to benefit their patients! Given their history, that day isn't going to come any time soon .... or most likely .... ever.

Anonymous said...

Trying to find out the truth about Essents financial health is nigh on impossible . If you hear various managers talk they are, in fact ,making money. The numbers that are reported on the cited web site in this blog are contaminated with depreciation schedules and "mark to market" values on realestate and intangibles like inventory. I think they are profitable and the cuts are to placate investors who are upset over the cost of borrowing money in the new banking enviornment.Miller and Duck have both been quoted as saying they are making money.

Anonymous said...

WORD OF ADVISE TO ESSENTS CORP. SELL ALL HOSPITALS TO SOMEONE WHO CARES ABOUT ITS EMPLOYEES. IF ANOTHER HOSPITAL OWNED ALL OF ESSENTS HOSPITALS, THE IMPATIENT CENSUS MAY GO UP AND STAY UP. NASHOBA VALLEY MEDICAL CENTER, ON FRIDAY, FEBRUARY 13, CENSUS OF 5 PATIENTS, ON SUNDAY, FEBRUARY 15, CENSUS OF 10, WITH KNOWN D/C. ITS FEBRUARY WOULDNT YOU THINK THE CENSUS WOULD BE HIGHER FOR MID WINTER??

Anonymous said...

Well, actually, there IS a shred of truth in Pinocchio-er, Jarrad's statement- the "profit" belongs to the folks making the red ink used by Essent to put in their ledgers, and the "growing" part refers to their losses in money, reputation, trust, and competency.

You see, it's all a matter of semantics- that's the Essent business model in a nutshell. Take a turd, paint it gold, put a ribbon on it, and viola- it's a gold nugget.

I do find it interesting that no one has come out in support of Essent here lately, even under the cover of anonymity. Truth hurts, don't it, Duckers?

Anonymous said...

"Trying to find out the truth about Essents financial health is nigh on impossible. If you hear various managers talk they are, in fact ,making money."

I don't doubt for a second that some managers, contrary to the numbers that Essent has already reported, have stated that Essent is somehow profitable. Are these managers stating that Essent is misstating their reported financials to show a loss? I don’t know how a reasonable person could conclude anything else.

It's really not difficult to determine if a company is profitable. If the bottom line on their income statement is a negative (and it is in a BIG way based on the numbers Essent has reported), then they are losing money.

Clearly these managers are either being prompted to lie to the employees, or they are just ignorant of the financial facts of their own company. Either way, it's not much of an endorsement of Essent Healthcare or their management, is it?

Anonymous said...

"I do find it interesting that no one has come out in support of Essent here lately, even under the cover of anonymity. Truth hurts, don't it, Duckers?"

i imagine that ducks is promising to fire anyone who is found to be reading / posting on "the paris-site". nothing like intimidation and censorship to keep the worker bees in check....especially with their jobs already hanging by a thread.

Anonymous said...

I overheard a conversation that wasn't for public consumption. The gist was that ETMC was currently engaged in talks to acquire PRMC.

I don't know how far it's gone, but it sounded serious.

Giles Corey said...

I find it rather alarming that Essent's logo is very much like Enron's. Didn't that start with the CEO stilling the employee's pensions??

Anonymous said...

So, if ETMC acts anything like Essent, and HCA before them, they'll have the department heads from Clarksville taking over both departments...and the current ones will just sort of go away.

Keep that in the back of your mind, Cheryl.

Anonymous said...

even if one isn't employed there, the things going on with prmc are beyond alarming....after all many of us live in the lamar county community and have little choice about where to go in the event of a true medical emergency. nurses having to file "safe haven"????? that is over the top, ducks. you have to have enough nurses per shift to take care of your patients. this is dangerous and unethical.

yes, let us pray that some other entity will buy them out, and soon.

Anonymous said...

Bottom line........better patient care.........which do you think Duckers would choose?

If you chose the latter, you've either never read this blog before, or you're an Essent apologist (or a quacker-backer).