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re: Apparently private equity is buying up small hospitals in LA
Posted on 3/18/24 at 9:31 pm to nitwit
Posted on 3/18/24 at 9:31 pm to nitwit
I don't really know the answer to your question. I know the "for profits" have to pay property taxes while the "not for Profits" do not. That gives the second group about a ten percent head start towards profit, which they blow by having double the staffing of a "profit". Thats also why non-for profits can buy so much land and then just sit on it, they don't have to pay property taxes.
I don't know that you can break down the question you are asking. Hospitals will look at their overall percentage of Medicaid, Medicare, and insurance payments for patients. They will increase their prices to the insurance companies and private pays based on the percentages. Since M & M patients payments are going to be below the costs of the services, they have to make money somewhere. Either that, or shut down. Since, for profits, tend to manage their costs much better than not-caring-how-much-they-spend non-for profits they tend to be a better quality at a better cost.
I don't know that you can break down the question you are asking. Hospitals will look at their overall percentage of Medicaid, Medicare, and insurance payments for patients. They will increase their prices to the insurance companies and private pays based on the percentages. Since M & M patients payments are going to be below the costs of the services, they have to make money somewhere. Either that, or shut down. Since, for profits, tend to manage their costs much better than not-caring-how-much-they-spend non-for profits they tend to be a better quality at a better cost.
Posted on 3/18/24 at 9:47 pm to jeffsdad
What can further complicate health care facilities in Louisiana are hospital boards.
Hospital boards are locally politically appointed boards to manage the overall operations of a hospital. Day to day management is handled by a CEO.
Some of these boards can pass taxes and bond issues. Some of them still exist even when the hospital is self sufficient and does not require property taxes. They are also have limitations from expanding certain services beyond their geographic territory.
What has been a recent trend is that hospital districts will contract out these facilities to nonprofits like Ochsner, Louisiana Children’s Hospital, or even a for profit company. The hospital district will own the building and some equipment while most of the employees and doctors are all workers for the contractor.
Hospital boards are locally politically appointed boards to manage the overall operations of a hospital. Day to day management is handled by a CEO.
Some of these boards can pass taxes and bond issues. Some of them still exist even when the hospital is self sufficient and does not require property taxes. They are also have limitations from expanding certain services beyond their geographic territory.
What has been a recent trend is that hospital districts will contract out these facilities to nonprofits like Ochsner, Louisiana Children’s Hospital, or even a for profit company. The hospital district will own the building and some equipment while most of the employees and doctors are all workers for the contractor.
This post was edited on 3/18/24 at 10:12 pm
Posted on 3/18/24 at 9:50 pm to GeauxTigers123
You forgot to add some Ponzi scheme stuff in there about recruiting new funding every six months.
Posted on 3/18/24 at 10:08 pm to cwil177
quote:
I had no idea big medicine was also creating our unhealthy food chain.
I was pointing out the negative effects of agribusiness, I never said that the medical industry was responsible for that. They do tangentially benefit though.
quote:
waiting on big pharma to give me kickbacks and vacations
Oh wow, you are so ethical. Truly a prodigy in your field has never seen this occur, my bad.
Posted on 3/19/24 at 1:46 am to LSUFanHouston
Steward sucked the juice out of a “rival” hospital on the other side of the city.
Gonna be a shite sandwich no matter which way it ends up.
shite should be illegal.
In my area it appears that they are going for option 4 or 5.
Does anyone here feel as though there is no one with our interests at the helm of our country anymore? Don’t mean just the President of the U.S., I mean thought leaders, decision makers, etc.
We are slowly headed off a damn cliff and it’s as though not only is no one doing anything to help, but our pockets are being picked before they jump ship into the only remaining lifeboats.
Gonna be a shite sandwich no matter which way it ends up.
shite should be illegal.
In my area it appears that they are going for option 4 or 5.
Does anyone here feel as though there is no one with our interests at the helm of our country anymore? Don’t mean just the President of the U.S., I mean thought leaders, decision makers, etc.
We are slowly headed off a damn cliff and it’s as though not only is no one doing anything to help, but our pockets are being picked before they jump ship into the only remaining lifeboats.
This post was edited on 3/19/24 at 4:55 am
Posted on 3/19/24 at 6:19 am to LSUFanHouston
quote:
The goal of private equity is as follows: 1) Buy a business and load it up with debt 2) Take a ton of cash out 3) Trim expeneses to the absolute bone, and usually beyond 4) Starve the business of resources / spending as much as possible, but not so much as to cause it to shut down, so they can flip it in a few years and make a ton of money and pass it on to the next group, or 5) If they go too deep and end up putting it out of business, just sell off the assets and get the remaining cash out that way.
I saw this on an episode of Sopranos. We could use a few more mob members keeping neighborhoods crime free in the cities and a few less private equity folks ruining banking systems at the cost of middle class.
Posted on 3/19/24 at 6:40 am to LSUFanHouston
quote:
The goal of private equity is as follows: 1) Buy a business and load it up with debt 2) Take a ton of cash out 3) Trim expeneses to the absolute bone, and usually beyond 4) Starve the business of resources / spending as much as possible, but not so much as to cause it to shut down, so they can flip it in a few years and make a ton of money and pass it on to the next group, or 5) If they go too deep and end up putting it out of business, just sell off the assets and get the remaining cash out that w
, the goal of PE is, over time, to make money. If that don’t make money they won’t keep getting those fees.
I’m no PE fanatic by any stretch, but running a business to make money is a lot better way to do it than many of the alternatives.
Posted on 3/19/24 at 8:53 am to slackster
quote:
the goal of PE is, over time, to make money. If that don’t make money they won’t keep getting those fees. I’m no PE fanatic by any stretch, but running a business to make money is a lot better way to do it than many of the alternatives.
Who said they shouldn’t be allowed to make money?
The problem with private equity is that it has turned into excessively greedy vulture capitalism.
Would you agree that is not okay?
This post was edited on 3/19/24 at 8:54 am
Posted on 3/19/24 at 9:37 am to LSUSkip
quote:
This is going to be a total disaster
There have been for profit hospital corporations, both traded publicly and owned by private equity firms for 30+ years. It's not something new.
Posted on 3/19/24 at 9:40 am to LaLadyinTx
quote:
There have been for profit hospital corporations, both traded publicly and owned by private equity firms for 30+ years. It's not something new.
This situation IS relatively new.
STOP conflating regular capitalism with the vulture-like capitalism of these super-greedy private equity companies.
Posted on 3/19/24 at 9:52 am to Beessnax
quote:
Just wait until you find out what they have done to the med school since "partnering". It's coming.
You mean an offshore 3rd rate med school is a problem?
Hey- they'll likely be on par with the "prestigious" DEI infested med schools soon anyway.
What could possibly go wrong?
Oh wait.... Nevermind
Posted on 3/19/24 at 10:04 am to GeauxTigers123
quote:I have been selling to HC facilities for years.
Some of the articles state that people won’t do business with them anymore cause they won’t pay suppliers
PE from out of state comes in and tries to cut your margins to zero, cuts quality of supplies or services. Then to top it all off they stretch you out to 90 days. I now just assume the acct is gone.
The operators that are local or regional buy them and you have nothing to worry about.
This post was edited on 3/19/24 at 10:06 am
Posted on 3/19/24 at 10:08 am to CatfishJohn
quote:
Could our system use a complete overhaul? Absofrickinglutely. Is it fricked because of capitalism? No. It is fricked because it is decades of patch work legislation with endless nuance from a patient, insurer, and provider perspective. It is the most convoluted institution in our country. The defense department is 1st grade math in comparison. That isn't just because of capitalism. It was designed in unsustainable fashion from the get-go and never fixed. It wasn't built to handle 300 million fat people that don't care about their own well-being.
I talk to doctors that have no idea how the government system works. I talk to FTC employees that have no idea how the hospital system works. I talk to insurance companies that have no idea how either work. It needs to start over.
As a long time hospital CFO, I agree with everything you said. It's always so annoying watching people who aren't in the business side of healthcare posting about what they think because they have no fricking clue what they are talking about. We have the most disjointed healthcare system that is possible and because of that it is significantly more expensive than anywhere else on earth. The way it's patched together hurts care as well because most of the people taking care of you don't actually have all your healthcare info. Therefore they do the same tests, diagnostics, etc. over and over. There has been a good bit of legislation trying to mandate EMRs and make it so that your info was portable and providers could easily access it. All have failed. Our system sucks.
This post was edited on 3/19/24 at 11:12 am
Posted on 3/19/24 at 10:21 am to LaLadyinTx
quote:
LaLadyinTx
quote:
As a long time hospital CFO, I agree with everything you said. It's always so annoying watching people who aren't in the business side of healthcare posting about what they think because they have no fricking clue what they are talking about. We have the most disjointed healthcare system that is possible and because of that it is significantly more expensive than anywhere else on earth. We The way it's patched together hurts care as well because most of the people taking care of you don't actually have all your healthcare info. Therefore they do the same tests, diagnostics, etc. over and over. There has been a good bit of legislation trying to mandate EMRs and make it so that your info was portable and providers could easily access it. All have failed. Our system sucks.
This lady knows what is up. I am a Sr Consultant with Oracle America and can attest to how f'd up the EMR/EHR connectivity issue is. We are trying our best to get it all connected but its nowhere near as easy as it sounds
Posted on 3/19/24 at 11:40 am to BuckyCheese
quote:
If the Church is God's House, the Devil's is a Nursing Home.
They way they spend down some of these people's incomes should be criminal.
Was spending $9200/month for my mother and had to battle them to get her out as they outright lied to the doctor.
5 star place and all I will say about that is the 3 stars must be real bad as I was not impressed at all with the care and I'd be surprised if prisons have worse food.
Nursing homes are a racket, no question. A kid I went to high school with owns a chain of them and is insanely wealthy. The nursing home lobby is second only to the oil and gas lobby for legislative influence in Louisiana.
With that said, my mother is in one and it's been a godsend. We simply couldn't duplicate the same level of care at home for any amount of money. She has nurses checking her condition twice a day, which I believe has saved her life at least once. She has aides helping her with her daily activities, she has more social interactions that she would at home. It's been a great weight off my dad's shoulders, who was ruining his own health trying to take care of her by himself. Most of all, my mother seems pretty content. Trying to manage independent living was stressful for her, too.
I wish it hadn't come to this. It's not how I imagined my parents' golden years. My heart breaks a little bit every time I go there. But it had to be, and we're making the best of it.
Posted on 3/19/24 at 12:33 pm to Jim Rockford
You are very lucky to have this type care for your mother, Jim Rockford.
Posted on 3/19/24 at 1:38 pm to bountyhunter
quote:
The medical industry is just another for-profit arm of our savagely capitalistic society that bleeds the consumer until they die. Produce unhealthy food for the masses that cause cancer, diabetes and heart disease. Deliver sub-par healthcare at a ridiculously inflated rate because they are charging your insurance that you're required to have. When they don't want to pay the stupid bill you get to pick up the tab. On top of that, as an added bonus these medical experts convince you to use some medicine that gives them incentives but gives you unintended side effects instead.
Capitalism is the WORST economic system there is.
Except for all the others.
Posted on 5/6/24 at 1:16 pm to Turnblad85
Looks like Steward is filling for bankrupcy. They must have stripped it for everything remotely valuable and now going for bankruptcy. Thats the PE plan!
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