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Started By
Message
OLOL’s LSU donation seems shady
Posted on 2/12/22 at 3:19 pm
Posted on 2/12/22 at 3:19 pm
LINK
Their “Mission” has always been generating revenue, disguised as the appearance of providing healthcare. I can only imagine the backroom deals that led to this.
Their “Mission” has always been generating revenue, disguised as the appearance of providing healthcare. I can only imagine the backroom deals that led to this.
22
Posted on 2/12/22 at 3:19 pm to StrangerInTheAlps
No shite
Posted on 2/12/22 at 3:24 pm to StrangerInTheAlps
Ask Fuentes where it got him.
Posted on 2/12/22 at 3:25 pm to StrangerInTheAlps
Even shadier is the percentage of the money that is tied to and managed by LSU athletics. That, and the percentage of academic's share that will go to providing insurance and medical care to "underserved and underprivileged" students.
Posted on 2/12/22 at 3:31 pm to StrangerInTheAlps
Massive tax write off.
That’s pretty much it
That’s pretty much it
Posted on 2/12/22 at 3:38 pm to StrangerInTheAlps
How does LOL have $245 mil to just give away and why. I just can't figure this one out. Shouldn't they use this money to upgrade to new precision technology.
Posted on 2/12/22 at 3:43 pm to ewilliams000
quote:
How does LOL have $245 mil to just give away
Covid-19 overpayments? Maybe it’s their way of paying LSU back for all the mandates?
Posted on 2/12/22 at 3:44 pm to ewilliams000
quote:
How does LOL have $245 mil to just give away and why. I just can't figure this one out.
It probably came from the Federal government.
Posted on 2/12/22 at 3:58 pm to ewilliams000
quote:
How does LOL have $245 mil to just give away and why.
They got paid for killing people with Covid.
Posted on 2/12/22 at 4:10 pm to StrangerInTheAlps
Shady? Come on. There was a public 9 page RFI issued by LSU, the Foundation, Athletics, and TAF together.
1. There was a competitive process. A Request for Information was issued in November. Proposals were due in December: RFI Summary
** No clue what "hydrocodonehelp" is but it's a site that just pulled the Business Report content which is now behind paywall.
2. The RFI covered R&D, athletics, sports medicine, athletics, student health, the new Science Building, and strategic partnerships for the LSU System to pursue National Cancer Institute designation.
There was an extensive full proposal and review process.
Read the press release. It has a lot more detail including specific breakdowns on distributions into the programs requested in RFI: LSU, OLOL, LCMC Press Release
LCMC is NCI designation partner. Looks like OLOL is everything else.
NCI designation is among highest LSU strategic priorities.
1. There was a competitive process. A Request for Information was issued in November. Proposals were due in December: RFI Summary
** No clue what "hydrocodonehelp" is but it's a site that just pulled the Business Report content which is now behind paywall.
2. The RFI covered R&D, athletics, sports medicine, athletics, student health, the new Science Building, and strategic partnerships for the LSU System to pursue National Cancer Institute designation.
There was an extensive full proposal and review process.
Read the press release. It has a lot more detail including specific breakdowns on distributions into the programs requested in RFI: LSU, OLOL, LCMC Press Release
LCMC is NCI designation partner. Looks like OLOL is everything else.
NCI designation is among highest LSU strategic priorities.
This post was edited on 2/12/22 at 4:13 pm
Posted on 2/12/22 at 4:10 pm to StrangerInTheAlps
Covid and LSU forcing kids to be vaccinated didn't hurt.
Posted on 2/12/22 at 4:15 pm to loogaroo
Nice arse (above). The devil's in the details.
This post was edited on 2/12/22 at 4:16 pm
Posted on 2/12/22 at 4:15 pm to StrangerInTheAlps
(no message)
This post was edited on 2/28/22 at 3:40 am
Posted on 2/12/22 at 4:24 pm to Budge
I just scanned the release. It says OLOL will put in $170 million of the $245 million in the first 10 years of the deal. What will the extra $75 million go toward and when will it be used?
Also, this highlights a bit of the real motivation for OLOL:
Also, this highlights a bit of the real motivation for OLOL:
quote:
This unprecedented level of investment establishes Our Lady of the Lake as LSU’s exclusive Championship Healthcare Partner.
This post was edited on 2/12/22 at 4:56 pm
Posted on 2/12/22 at 4:34 pm to StrangerInTheAlps
Bribe to LSU by OLOL to remain as a LSUHSC teaching hospital?
Posted on 2/12/22 at 4:39 pm to LegendInMyMind
quote:You missed $5M. It's $75M, and that's coming from LCMC.
It says OLOL will put in $170 million of the $245 million in the first 10 years of the deal. What will the extra $70 million go toward and when will it be used?
$245M = $170M (OLOL) + $75M (LCMC).
From the release:
"LCMC Health has committed $75 million to revolutionize cancer research, treatment and outcomes in Louisiana and ensure a sustained talent pipeline for the state’s healthcare industry." All NCI designation with Health Science Center(s).
This was a very competitive process.
Posted on 2/12/22 at 4:43 pm to StrangerInTheAlps
Frick My Life Hospital System
Posted on 2/12/22 at 4:43 pm to LegendInMyMind
quote:
It probably came from the Federal government.
AKA taxpayers
Posted on 2/12/22 at 5:01 pm to Fat and Happy
quote:
Massive tax write off.
That’s pretty much it
Aren't they a non-profit? Why would they need a massive tax write off?
Posted on 2/12/22 at 5:08 pm to StrangerInTheAlps
There's so much extra money in Hospitals that 2 not-for profits accumulated so much profits that they combined have $250-$300 million in accumulated excess financial assets that are not needed for operations or capital needs. It's not from fee for services, but rather from pooling contracts and pulling down grant revenue from the feds for providing care to patients who have medicaid or medicare. Then came COVID and the CARES act which just poured gas on the money tree. I am happy for LSU I guess but in a bit of a quandry as to whether this is a net good. Like how could this set of circumstances happen? It's pretty crazy.
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