Monday, September 28, 2009

Half Better Than None?....10/30

Remember when Essent was negotiating for Nachez Regional Medical Center--and they backed out because the other hospital in town wasn't included in the deal? Well, for the first time in five years, NRMC is projecting a profit of approximately 3/4 of a million. Timing is everything, I'd say.

'Course they're also projecting $12.5 Million in bad debt--unpaid bills. Now, if Obama-care makes it through, would those debts be unpaid? That would suddenly transform these small, un-profitable hospitals into cash machines...or so it's touted.

A lot of folks don't remember, but one of Hud's (the original CEO of Essent) catch phrases was, "We want to make this 'the' hospital in the area..." Hud really meant, the only hospital in the area. They were actually going to try to repeat the Paris condition.

This is the one where patients are shuttled back and forth by ambulance from ER to ER, based on an initial diagnosis which may or may not be accurate? And where they are moved, again by ambulance, to the North to have an MRI, and then back to the South?

To heck with hospitals, I'm investing in ambulance services! That is the growth industry.

But, if either Obama-care, or the proposed Republican health care plan go through, the county hospitals that Essent has been scooping up will suddenly be gold--in 2010-13. Isn't that when the phase in goes into effect?