KCUR think-piece considers a corporate takeover of the highest order: Company Seeking To Buy KC-Area Catholic Hospitals Inspires Anger, Admiration
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Prime Healthcare Services isn't even close to having the bad record of HCA which is already buying up hospitals in the metro.
ReplyDeleteIf Obamacare is such a disaster for the mafia enterprise known as American medicine, why do big companies like HCA keep buying more hospitals?
ReplyDelete"In California, Salm said, Prime has a history of cutting staff and eliminating money-losing operations, such as behavioral health, when it acquires a hospital."
ReplyDeleteWhat else would / should be expected of a for-profit company whose business model includes buying underperforming hospitals and attempting to turn them around? Of course they eliminate "money-losing" operations, because they LOSE MONEY. The SEIU hates this company because they play hardball on staff reductions where required, and is hoping to rely on the PR spin and relationships within government to handcuff the deal with a bunch of stipulations. If the SEIU want's "money-losing" operations and the employee's who staff them to stick around, maybe they should start paying for them.
Guessing that hospital in Blue Springs will be closed by the end of next year. Old outdated facilities.
ReplyDeletePrime Healthcare Services is under investigation by the United States Department of Health and Human Services and the California Department of Justice about concerns over a reported spike in septicemia. The investigation centers around whether the spike in septicemia represents a large public health issue or potential Medicare fraud.
ReplyDeleteCompany prospers by canceling insurance contracts and, some say, shortchanging patients.
As he piloted his new, $1.4-million helicopter from his Apple Valley home to Orange County one recent morning, Dr. Prem Reddy enjoyed a cloudless view of his growing empire.
Today, the five-seat Eurocopter EC120 whisks him to Anaheim, where he recently agreed to buy two hospitals. On other days, he sweeps over endless miles of gridlock to his facilities in Sherman Oaks, Huntington Beach and San Diego.
The 58-year-old cardiologist has scooped up six of his eight hospitals in the last two years and could take over as many as six more in the coming months.
The buying spree is making his company one of the largest hospital owners in the state, placing it in a position to challenge industry leaders including Kaiser Permanente and Catholic Healthcare West.
"There's a lot of sacrifice in a doctor's life," Reddy said, over the whir of the chopper's blades. "But there are many rewards."
http://articles.latimes.com/2007/jul/08/business/fi-reddy8